Property Listing
Description
890 Payne Ave is a value-add mixed-use opportunity in Saint Paul’s Payne-Phalen corridor offering income today and upside through stabilization. The property features one street-level commercial space (laundromat) plus four apartments (three 1BR units and one studio). Current operations generate $70,680 in effective gross income with NOI of approximately $36,382, and the market pro forma projects about $79,080 in effective gross income with NOI increasing to roughly $44,782 (about +23%), assuming expenses remain near current levels (~$34,298/year). The sale also includes the B2-zoned lot at 648 York Ave (~4,836 SF), adding valuable optionality for off-street parking, signage, storage, or future expansion potential (subject to city approvals).
Property Information
Status: Active
Sub Type: ********
List Price: $560,000
MLS#: 6808073
Current Price: $560,000
Address: 890 Payne Avenue, Saint Paul, MN 55130
City: Saint Paul
State: MN
Postal Code: 55130
Geo Lat: 44.968175
Geo Lon: -93.073288
Subdivision: Chas Weides Sub Of B34 Arling
County: Ramsey
Property Description
Year Built: 1888
Lot Size SqFt: 2178
Gen Tax: 8726
Specials Inst: 0
High School: St. Paul
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Total SqFt.: ********
Style: ********
Total Bedrooms: 3
Total Bathrooms: 4
Total Full Baths: ********
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Garage Stalls: 0
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Property Features
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