Mixed-Use Property with Development
For Sale
$560,000
890 Payne Avenue, 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 Market224
Property Features for 890 Payne Avenue
General Information
Standard status
Active
Size
5,970 SF
Lot size
0.11 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,726
Amenities
3
Parking.
Lot, On Street.
Building Details
Year Built
1888
Stories
2
Listing Agency:
Keller Williams Premier Realty
(651) 216-6814
Listed By:
William Schultz · License #40835740
(651) 216-6814
Source:
Xome
Added: Jan 11
Changed: Aug 23
Last Checked: Aug 22 at 11:52AM
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 Keller Williams Premier Realty
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 Avenue 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.
