890 Payne Avenue, Saint Paul, MN 55130 (MLS# 6808073)

890 Payne Avenue, Saint Paul, MN 55130

$560,000
Property Type: Commercial Bedrooms: 3 Baths: 4 Lot Size (sq. ft.): 2,178 Status: Active
Current Price: $560,000 List Date: 3/04/2026 Last Modified: 8/27/2026

Overview

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).

Listing Details MLS# 6808073

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
10
Owner Occupied
No
Waterfront YN
No
Year Built
1888
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
1950
For Sale or Lease
For Sale
Acres
0.05
Lot Dimensions
38 x 70
Assessment Pending
Unknown

Property Features

Accessible: Other CMU Style: Apartments and Retail; Mixed Use Construction Status: Previously Owned Current Use: Laundromat; Residential Exterior: Brick/Stone Foundation: Stone Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Conventional On Site Utilities: None Available Parking Characteristics: Parking Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
560000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
890
Street Name
Payne
Street Suffix
Avenue
Postal City
Saint Paul
County
Ramsey
State
MN
Zip Code
55130
Complex/Dev/Subdivision
Chas Weides Sub Of B34 Arling

Assessments

Tax With Assessments
8726

Building Information

Building Finished SqFt
5970

More Information

Income and Expenses

Annual Gross Expenses
34298
Annual Gross Income
70680
Annual Net Income
36382

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
Unit A (L
Monthly Rent
1950
Level
Main Level
Lease Expiration Date
2026-04-01
No. of 1 Bedroom Units
3

Unit 2

Full Baths
Yes
Level
2nd Level
Monthly Rent
1030
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 1

Unit 3

Full Baths
Yes
Level
2nd Level
Monthly Rent
927
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 2

Unit 4

Full Baths
Yes
Level
2nd Level
Monthly Rent
950
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Unit 3

Unit 5

Full Baths
Yes
Level
2nd Level
Monthly Rent
800
Total Bathrooms
Yes
Total Rooms
Yes
Unit Number
Unit 4 (S

Unit Details

Total Units
5

Unit Information

No. of Efficiency Units
Yes
IDX
Listing Office: Keller Williams Premier Realty
Last Updated: August - 27 - 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.
Search powered by FBS Products