Anand Prashad, Broker
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).
Property Features
Property Type: Commercial - Business
Fuel Type: Natural Gas
Heating: Boiler
Lot Size: 0.06 Acres
Stories: 2.0
Taxes: $8,726
Year Built: 1888
Feature Descriptions
Current Use: Laundromat, Residential
Days on Site: 183
Foundation Size: 1950
Lot Dimensions: 38 x 70
Parcel#: 292922420146
Parking: On-Street Parking Only, Parking Lot
Sale Includes: Land
Sewer: City Sewer/Connected
Units: 5
Utilities: None Available
Water: City Water/Connected
Local Schools
School District: St. Paul
Listed By / Shown By
Listed By
Agency Name: Keller Williams Premier Realty
Agency Phone: 651-379-5252
Shown By
Agent Name: Anand Prashad, Broker
Agent Phone: (612) 790-6080
Agency Title: Counselor Realty
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890 Payne Avenue | MLS# 6808073
This commercial property located at 890 Payne Avenue, Saint Paul, MN 55130 is currently listed for sale with an asking price of $560,000. Payne Avenue is located within the St. Paul school district. Search Saint Paul real estate on aprashad.counselorrealty.com today.