Mixed-Use Property with Development
For Sale
Contact for pricing
890 Payne Ave, Saint Paul, MN 55130
Value-add mixed-use property with commercial space and residential units.
Property Size5,970 SF
Lot Size0.11 Acres
Price / SF$93.80
Days on Market168
Property Features for 890 Payne Ave
General Information
Standard status
Active
Size
5,970 SF
Class
C
Lot size
0.11 Acres
Property subtype
Mixed Use, Multifamily, Retail
Zoning
B2 Community Business
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$7,276
Building Details
Year Built
1888
Buildings
1
Stories
2
Units
5
Listing Agency:
KW Commercial Woodbury - East Suburban
Listed By:
William Schultz · License #40835740
Source:
Crexi
Added: Mar 3
Changed: Aug 16
Last Checked: Aug 17 at 9:45AM
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 KW Commercial Woodbury - East Suburban
Investment Insights
Based on property information with market context.
This mixed-use property is located in Saint Paul’s Payne-Phalen corridor. It features one street-level commercial space currently operating as a laundromat, and four residential units, including three 1-bedroom, 1-bathroom units and one studio apartment. The sale includes a B2-zoned lot at 648 York Ave, comprising approximately 4,836 square feet. The property generates an effective gross income of $70,680, with a net operating income of approximately $36,382, based on roughly $34,298 in annual operating expenses. The residential units present an opportunity for increased rental income through interior improvements such as paint, flooring, and kitchen/bathroom upgrades. Pro forma projections estimate a stabilized effective gross income of approximately $79,080 and a net operating income of $44,782, representing an approximate 23% increase, assuming expenses remain at current levels. The included B2 lot offers potential for off-street parking, signage, storage, or future expansion, subject to city approvals. The property size is 5970 square feet.
Key Highlights
- Value‑add opportunity: Increase NOI by approximately 23% with light interior improvements.
- B2‑zoned lot included (~4,836 SF) offering options for parking, signage, storage, or future expansion.
- Generates in‑place cash flow with an existing NOI of approximately $36,382.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Value-add mixed-use property with commercial space and residential units.
Where is this mixed-use property located?
The property is located at 890 Payne Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Value‑add opportunity: Increase NOI by approximately 23% with light interior improvements.; B2‑zoned lot included (~4,836 SF) offering options for parking, signage, storage, or future expansion.; Generates in‑place cash flow with an existing NOI of approximately $36,382.
