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About This Home
This 3-bedroom, 0-bathroom commercial at 890 Payne Avenue in Saint Paul, MN is listed for $560,000. Built in 1888, on a 0.06 acres lot.
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).
Key Features
- Built in 1888
- 0.06 acre lot
Property Details
Monthly Cost Estimate
$2,995/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
890 Payne Avenue
Saint Paul, MN 55130
Chas Weides Sub Of B34 Arling
Features & Amenities
Exterior Features
Property Details
Parking
Questions & Answers
This 3-bedroom, 0-bathroom commercial at 890 Payne Avenue is listed at $560,000. The estimated monthly payment is $2,427 based on 20% down at 6.5% interest.
Key features include: Built in 1888, 0.06 acre lot. Exterior Features: Brick/Stone.
This property is listed by William Schultz and can be reached at 6513795252 or william.schultz@kw.com.
