883 Payne Avenue, Saint Paul, MN 55130 (MLS# 6808068)

883 Payne Avenue, Saint Paul, MN 55130

$1,495,000
Property Type: Commercial Bedrooms: 5 Baths: 4 Square Footage: 12,156 Lot Size (sq. ft.): 10,704 Status: Active
Current Price: $1,495,000 List Date: 3/04/2026 Last Modified: 9/13/2026

Overview

Description

Prime Payne Ave mixed-use opportunity with income now and upside later. 883 Payne Ave offers 7 total units including two street-level restaurant suites plus five apartments, all complemented by a rare on-site parking lot. Current operations generate $192,792 in gross/effective income with $88,315 NOI, and pro forma projections support $214,200 income and $109,723 NOI through improved rents and continued stabilization. High-visibility corridor location with long-term flexibility for investors seeking strong cash flow, value-add potential, and future redevelopment optionality. All tours require proof of funds and/or approval of financing. No same-day tours.

Listing Details MLS# 6808068

General Property Information

Lot Measurement
Square Feet
Multiple PIDs?
No
Other Parking Spaces
11
Owner Occupied
No
Waterfront YN
No
Year Built
1906
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Lot Size SqFt
10704
Foundation Size
5460
For Sale or Lease
For Sale
Lot Dimensions
75 x 80
Assessment Pending
Unknown

Property Features

Accessible: Other CMU Style: Mixed Use Construction Status: Previously Owned Current Use: Commercial; Residential; Restaurant Existing Financing: Conventional Exterior: Stucco Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Contract for Deed; Conventional Lock Box Type: None On Site Utilities: None Available Parking Characteristics: Paved Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
1495000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
883
Street Name
Payne
Street Suffix
Avenue
Postal City
Saint Paul
County
Ramsey
State
MN
Zip Code
55130
Complex/Dev/Subdivision
Chas Weides Sub Of B35 Arling

Assessments

Tax With Assessments
22870

Building Information

Building Finished SqFt
12156
Building SqFt
12156

More Information

Income and Expenses

Annual Gross Expenses
104477
Annual Gross Income
192792
Annual Net Income
88315

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
Land

Unit 1

Unit Number
Restauran
Monthly Rent
2775
Level
Main Level
Leased?
Yes
Lease Expiration Date
2026-03-01
No. of 1 Bedroom Units
4

Unit 2

No. of 2 Bedroom Units
Yes
Lease Expiration Date
2029-07-01
Leased?
Yes
Level
Main Level
Monthly Rent
8466
Unit Number
Restauran

Unit 3

Full Baths
Yes
Lease Expiration Date
2026-03-01
Leased?
Yes
Level
2nd Level
Monthly Rent
1300
Total Bathrooms
Yes
Total Bedrooms
2
Unit Number
Unit 1

Unit 4

Full Baths
Yes
Lease Expiration Date
2026-07-01
Leased?
Yes
Monthly Rent
900
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 2

Unit 5

Full Baths
Yes
Lease Expiration Date
2026-09-01
Leased?
Yes
Level
2nd Level
Monthly Rent
850
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 3

Unit 6

Lease Expiration Date
2026-10-01
Level
2nd Level
Monthly Rent
850
Unit Number
Unit 4

Unit 7

Full Baths
Yes
Lease Expiration Date
2025-12-01
Level
2nd Level
Monthly Rent
925
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 5

Unit Details

Total Units
7
IDX
Listing Office: Keller Williams Premier Realty
Last Updated: September - 13 - 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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