Saint Paul, MN 55130 890 Payne Avenue

890 Payne Avenue Saint Paul, MN - Image 1890 Payne Avenue Saint Paul, MN - Image 2890 Payne Avenue Saint Paul, MN - Image 3
13 more
890 Payne Avenue Saint Paul, MN - Image 4890 Payne Avenue Saint Paul, MN - Image 5890 Payne Avenue Saint Paul, MN - Image 6890 Payne Avenue Saint Paul, MN - Image 7890 Payne Avenue Saint Paul, MN - Image 8890 Payne Avenue Saint Paul, MN - Image 9890 Payne Avenue Saint Paul, MN - Image 10890 Payne Avenue Saint Paul, MN - Image 11890 Payne Avenue Saint Paul, MN - Image 12890 Payne Avenue Saint Paul, MN - Image 13890 Payne Avenue Saint Paul, MN - Image 14890 Payne Avenue Saint Paul, MN - Image 15890 Payne Avenue Saint Paul, MN - Image 16890 Payne Avenue Saint Paul, MN - Image 17
Presented By: Keller Williams Premier Realty
  • MLS# 6808073
  • 03/04/2026
  • Request Tour
  • Request Info
  • Beds • 3
  • Baths • 4

Home Details

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).
Presented By: Keller Williams Premier Realty

Interior Features for 890 Payne Avenue

Bedrooms

Total Bedrooms3

Bathrooms

Total Baths4

Other Interior Features

Basement (Y/N)Yes
FuelNatural Gas

General for 890 Payne Avenue

AccessibilityOther
Additional Parcels Y/NNo
CitySaint Paul
ContingencyNone
CountyRamsey
Current UseLaundromat, Residential
Directions94 to Mounds Blvd, To 7th St E, To Payne Ave
Garage Spaces
Gross Income70680
HeatingBoiler
High School DistrictSt. Paul
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Lot Size UnitsAcres
Net Operating Income36382
New ConstructionNo
Number Of Units Total5
Operating Expense34298
PostalCitySaint Paul
Property TypeCommercial Sale
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameChas Weides Sub Of B34 Arling
Tax Annual Amount8726
Tax Year2025
UtilitiesNone Available
Year Built1888
Zoning DescriptionBusiness/Commercial

Exterior for 890 Payne Avenue

Foundation Area1950
InclusionsLand
Lot Dimensions38 x 70
Lot Size Area0.055
Parking FeaturesOn-Street Parking Only, Parking Lot
Water SourceCity Water/Connected

Additional Details

Price History

John Wichmann

Agent
Price $560,000
MLS#6808073
List Date 03/04/2026
Property Type Commercial
Request Tour
Request Info
Visit My Website

Similar Properties to 890 Payne Avenue