Standalone Industrial
For Sale
Contact for pricing
747 Payne Ave, Saint Paul, MN 55130
Standalone industrial building with multiple spaces, drive-in access, updated systems, and off-street parking.
Property Size8,333 SF
Lot Size0.18 Acres
Price / SF$172.93
Days on Market175
Property Features for 747 Payne Ave
General Information
Standard status
Active
Size
8,333 SF
Lot size
0.18 Acres
Property subtype
INDUSTRIAL
Zoning
industrial commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Heavy Power
Yes
Amenities
LED lighting
steel entry doors
restroom
utility sink
backup generator
access ramp
Building Details
Construction
cinder block and brick
Listing Agency:
Commercial Equities Group, Inc
(612) 428-3333
Listed By:
Jeff Salzbrun · License #40699119
(612) 428-3333
Source:
Moodyscre
Added: Feb 25
Changed: Jul 21
Last Checked: Jul 21 at 11:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Equities Group, Inc
Investment Insights
Based on property information with market context.
Standalone cinder block and brick industrial building with off-street parking. The property includes several distinct spaces, including heated space with a white EPDM membrane roof and 11’ clear to the bottom of the truss (17’ to the roof deck), plus a drive-in door measuring 9’9”x9’9”. Additional areas include non-heated space with a loading dock and 220 amp power with backup generator, and another heated area with updated HVAC, a utility sink, and restroom facilities. The building also has LED lighting, steel entry doors, and a fenced-in rear area that could support additional parking.
Recent updates include lighting, HVAC (updated in 2024), roofing (new roofing to be completed in 2026), windows (new windows added October 2023 and February 2026), and interior and exterior paint. There is also a ramp and storage area included within the configuration. The property was built in the 1800s on 0.1787 acres.
Phase 1 Environmental Assessment has been completed with no action needed. Zoning is industrial commercial, with approval for industrial uses and other categories listed in the remarks, and limited production and processing including under 15,000 feet of cannabis product manufacturing/cultivation. Off-street parking totals include four asphalt spots plus additional grass spaces, and the site is positioned on a corner lot with easy access to I-94, I-35E, and downtown St. Paul.
Recent updates include lighting, HVAC (updated in 2024), roofing (new roofing to be completed in 2026), windows (new windows added October 2023 and February 2026), and interior and exterior paint. There is also a ramp and storage area included within the configuration. The property was built in the 1800s on 0.1787 acres.
Phase 1 Environmental Assessment has been completed with no action needed. Zoning is industrial commercial, with approval for industrial uses and other categories listed in the remarks, and limited production and processing including under 15,000 feet of cannabis product manufacturing/cultivation. Off-street parking totals include four asphalt spots plus additional grass spaces, and the site is positioned on a corner lot with easy access to I-94, I-35E, and downtown St. Paul.
Key Highlights
- Standalone cinder block and brick industrial/commercial building on 0.1787 acres with off‑street parking
- Parking includes 4 asphalt spots plus 2–3 on grass, with a fenced‑in back area that could allow more parking
- Drive‑in options: Space 1 has 9'9" x 9'9" drive‑in opening; Space 2 has a 9'3" x 10'1" loading dock
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,926
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,198,520
$2.2M
Cap Rate 7%
$1,570,371
$1.6M
Cap Rate 9%
$1,221,400
$1.2M
Market Conditions
NOI Build-Up for 8,333 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.0K $16.20/SF
− Vacancy
−$5.7K −$0.68/SF
EGI
$129.3K $15.52/SF
− OpEx
−$19.4K −$2.33/SF
NOI
$109.9K $13.19/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,198,520
Cap Rate 7%
$1,570,371
Cap Rate 9%
$1,221,400
Alternative Uses
Best Use
Warehouse
$1.57M
$1.37M – $1.83M
NOI $109,926 @ 7.0% cap · market cap 7.63%
Second Best
Industrial
$1.29M
$1.13M – $1.51M
NOI $90,527 @ 7.0% cap · market cap 6.28%
Theoretical Best
Healthcare Medical
$2.05M
$1.79M – $2.39M
NOI $143,544 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55130, MN
18,581
Population
6,368
Households
2.9
Avg Household Size
28
Median Age
21%
College-Educated
73%
High-School Grad
2.0 sq mi
ZIP Area
9,291
Density / Sq Mi
$53,281
Median Household Income
$36,740
Median Earnings
$1,151
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Standalone industrial building with multiple spaces, drive-in access, updated systems, and off-street parking.
Where is this warehouse located?
The property is located at 747 Payne Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,441,000.
What are key features of this property?
This property features: Standalone cinder block and brick industrial/commercial building on 0.1787 acres with off‑street parking; Parking includes 4 asphalt spots plus 2–3 on grass, with a fenced‑in back area that could allow more parking; Drive‑in options: Space 1 has 9'9" x 9'9" drive‑in opening; Space 2 has a 9'3" x 10'1" loading dock
