For Sale: Saint Paul MLS# 6808068
Active
NEW!
$1,495,000
Commercial: 2 Stories
5 br • 4 ba • Built 1906
0.246 acres
MLS# 6808068
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Property Description
Prime Payne Ave mixed-use opportunity with income now and upside later. 883 Payne Ave offers 7 total units including two street-level restaurant suites plus five apartments, all complemented by a rare on-site parking lot. Current operations generate $192, 792 in gross/effective income with $88, 315 NOI, and pro forma projections support $214, 200 income and $109, 723 NOI through improved rents and continued stabilization. High-visibility corridor location with long-term flexibility for investors seeking strong cash flow, value-add potential, and future redevelopment optionality. All tours require proof of funds and/or approval of financing. No same-day tours.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,495,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1906
State:
MN
Property Style:
2 Stories
Zip Code:
55130
Neighborhood/Area:
98
Subdivision Name:
Chas Weides Sub Of B35 Arling
Interior
Bedrooms:
5
Bathrooms:
4
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
5,460 ft2
Handicap Accessible:
Other
Heating System:
Boiler
Parking Features:
Paved Lot
Lot & Land
Acres:
0.246
Geolocation:
44.967863, -93.073832
Inclusions:
Land
Lot Dimensions:
75 x 80
Zoning:
Business/Commercial
Schools
School District:
2102
District Phone:
6517678100
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$22,870
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$22,870
Income
Annual Gross Income:
$192,792
Rent
Annual Net Income:
$88,315
Units
Total Units:
7
Miscellaneous
Current Use:
- Commercial
- Residential
- Restaurant
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
None Available
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.