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$ 560,000
Est. payment | /mo
3 Beds
4 Baths
2,395 Sqft Lot
$ 560,000
Est. payment | /mo
3 Beds
4 Baths
2,395 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Chas Weides Sub Of B34 Arling
MLS Listing ID 6808073
Bedrooms 3
Year Built 1888
Annual Tax Amount $8,726
Tax Year 2025
Contingent None
Lot Size 2,395 Sqft
Lot Dimensions 38 x 70
Property 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).
Location
State MN
County Ramsey
Zoning Business/Commercial
Interior
Heating Boiler
Inclusions Land
Fireplace No
Exterior
Parking Features On-Street Parking Only, Parking Lot
Utilities Available None Available
Present Use Laundromat,Residential
Building
Story Two
Foundation 1950
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District St. Paul
Listed by William Schultz • Keller Williams Premier Realty
Nearby Locations
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Tom Ott
REALTOR® | Lic# 590400