Property information

Beds

3

Baths

4

Sq Ft

—

Year Built

1888

Property Type

Commercial Sale

Acres

0.06

County

Ramsey

Waterfront

No

Waterfront View

—

Waterfront Feet

—

Water Body

—

Parking

0

Basement

—

Price/Sqft

—

Stories

Two

HOA Fee

N/A

Updated

28 D AGO

List Date

7/30/2026

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).