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    Property profile & analytics

    1081 Payne Ave Saint Paul, MN 55130

    • Investment properties
    • 2,908 SF
    • 0.09 lot acres
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0771903
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 1081 Payne Ave

    Year built
    1960
    Lot size
    0.09 lot acres
    Property size
    2,908 SF
    Zone code
    L
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    29-29-22-12-0171
    APU
    292922120171

    Description

    This exceptional Saint Paul investment opportunity encompasses a diverse portfolio including a former restaurant space (1,000 square feet), a three-unit residential building (triplex), and an additional vacant lot, totaling 0.1 acres. Located at 1081 Payne Ave and 623 Magnolia Ave E, Saint Paul, MN 55130, this property presents a unique blend of commercial and residential potential. The former restaurant, situated within a B-2 (Community Business) zoned area, offers flexibility for a wide range of commercial ventures. The accompanying triplex provides immediate rental income, while the vacant land offers expansion or redevelopment possibilities. The entire portfolio is offered at an asking price of $600,000. The property is available for occupancy beginning January 1, 2025. This is an owner/user investment opportunity in Ramsey County, Minnesota. The two buildings sit on a combined 0.1-acre lot. This is a rare chance to acquire a mixed-use portfolio in a desirable Saint Paul location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $334,000
      Market price range: $126k - $335k
      AI Estimate
      $198,000
      Market price range: $89.4k - $198k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $220,000
      Current use
      WAREHOUSE, STORAGE
      $335,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $320,000
      Change: +45% Conversion: Easy
      RETAIL STORES
      $295,000
      Change: +35% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.0739
    Latitude
    44.974
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,342
    $41,700
    $410,000
    $451,700
    -
    $41,700
    $410,000
    $451,700

    Comparable in this City

    • Value Estimation
      $210,000
      0.19 Acres

      1193 Payne Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.19 Acres
      1193 Payne Ave, Saint Paul, MN 55130-3642
      View Details
    • Value Estimation by Request
      4,590 SF

      1097 Payne Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,590 SF
      1097 Payne Ave, Saint Paul, MN 55130-3738
      View Details
    • Value Estimation
      $285,000
      3,194 SF

      721 Jackson St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,194 SF
      721 Jackson St, Saint Paul, MN 55130-4307
      View Details
    • Value Estimation
      $275,000
      17,076 SF

      495 Kenny Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 17,076 SF
      495 Kenny Rd, Saint Paul, MN 55130-4530
      View Details
    • Value Estimation
      $235,000
      6,948 SF

      1110 Payne Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,948 SF
      1110 Payne Ave, Saint Paul, MN 55130-3739
      View Details
    • Value Estimation
      $235,000
      3,900 SF

      1382 Payne Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,900 SF
      1382 Payne Ave, Saint Paul, MN 55130-3442
      View Details

    Similar Nearby for Sale

    • $400,000
      0.05 Acres

      Mixed-Use Investment in Payne-Phalen

      Four-unit property with commercial space and residential units.
      985 Payne Ave, Saint Paul, MN 55130
      View Details
    • $365,000
      0.03 Acres

      Payne Avenue Mixed-Use Investment

      Mixed-use property with expansion potential in a redeveloping corridor.
      977 Payne Ave, Saint Paul, MN 55130
      View Details
    • $250,000
      0.06 Acres

      Mixed-Use Property in Saint Paul

      Mixed-use property with retail and residential units for sale.
      1129 Payne Ave, Saint Paul, MN 55130
      View Details
    • $290,000
      0.06 Acres

      Mixed-Use Commercial Property in Saint Paul

      Value-add investment opportunity in revitalizing Payne-Phalen corridor.
      1132 Payne Ave, Saint Paul, MN 55130
      View Details
    • $600,000
      0.10 Acres

      Prime Saint Paul Mixed-Use Portfolio

      Two Buildings, 1,000 sq ft, Investment Opportunity
      1081 Payne Ave, Saint Paul, MN 55130
      View Details
    • $349,900
      17,000 SF

      Prime St. Paul Executive Office Building

      17,000 SF Office Space - $349,900
      1001 Payne Ave, Saint Paul, MN 55130
      View Details
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    1081 Payne Ave
    Saint Paul, MN 55130
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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