1132 Payne Avenue, Saint Paul, MN 55130 (MLS# 6806880)

1132 Payne Avenue, Saint Paul, MN 55130

$275,000
Property Type: Commercial Bedrooms: 2 Baths: 2 Lot Size (sq. ft.): 2,178 Status: Active
Current Price: $275,000 List Date: 11/11/2025 Last Modified: 6/26/2026

Overview

Description

Exceptional value-add investment opportunity in the heart of Saint Paul’s rapidly revitalizing Payne-Phalen corridor. This three-unit mixed-use commercial property offers strong potential for investors or owner-operators looking to unlock value through upgrades and rent increases. All three units are currently functional but would benefit from modernization, allowing for substantial cash flow growth and appreciation. The property’s prime location on Payne Avenue positions it perfectly to benefit from the area’s ongoing transformation. The Payne Avenue corridor is home to some of Saint Paul’s most ambitious redevelopment efforts. The Hamm’s Brewery redevelopment is set to bring new housing, retail, and community spaces to the area, while the Latino Economic Development Center’s multi-million-dollar renovation will introduce a new event center, commercial kitchen, restaurants, and retail destinations, further energizing this historic commercial strip. As investment pours into ...

Listing Details MLS# 6806880

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
3
Waterfront YN
No
Year Built
1900
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
2280
For Sale or Lease
For Sale
Acres
0.05
Lot Dimensions
24 X 95
Assessment Pending
No

Property Features

Accessible: None Assumable Loan: Not Assumable CMU Style: Mixed Use Construction Status: Previously Owned Current Use: Beauty/Barber Shop; Commercial; Residential Exterior: Fiber Board; Shakes; Other Foundation: Brick/Mortar Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Contract for Deed; Conventional; Trade Lock Box Type: None On Site Utilities: Electric Separate Owner Pays: Gas; Insurance; Sewer; Trash Collection; Water Parking Characteristics: Gravel Lot Potential Use: Grocery; Office; Other; Professional; Retail; Shop Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
275000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
1132
Street Name
Payne
Street Suffix
Avenue
Postal City
Saint Paul
County
Ramsey
State
MN
Zip Code
55130
Complex/Dev/Subdivision
Holterhoff & Meads Add

Assessments

Tax With Assessments
5986

Building Information

Building Finished SqFt
2970

More Information

Income and Expenses

Annual Gross Expenses
16567
Annual Gross Income
34800
Annual Net Income
18233

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
22
Section#
29
Township#
29

Sale Options

Sale Includes
Building, Fixture/Equipment, Leases, Rental License

Unit 1

Unit Number
A
Monthly Rent
1300
Half Baths
Yes
Total Bathrooms
Yes
Level
Main Level
Leased?
No
No. of 1 Bedroom Units
Yes

Unit 2

Leased?
No
Level
2nd Level
Monthly Rent
700
Total Bedrooms
Yes
Unit Number
Yes

Unit 3

Full Baths
Yes
Leased?
No
Level
2nd Level
Monthly Rent
900
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
2

Unit Details

Total Units
3

Unit Information

No. of Efficiency Units
Yes
IDX
Listing Office: Keller Williams Premier Realty
Last Updated: June - 26 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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