Homes for sale - 985 Payne AVE, Saint Paul, MN 55130

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Josh Genz

josh@midwestlifestyleproperties.com +1(608) 797-7230

$ 400,000

Est. payment | -/mo

2,178 Sqft Lot

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$ 400,000

Est. payment | -/mo

Save

2,178 Sqft Lot

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision J R Weide Re L28-30B15 L1-2B16

MLS Listing ID 6806885

Year Built 1917

Annual Tax Amount $9,366

Tax Year 2025

Contingent None

Lot Size 2,178 Sqft

Acres 0.05

Lot Dimensions 50 x 78

Property Sub-Type Other

Property Description

Outstanding mixed-use investment opportunity located in the heart of the rapidly growing Payne-Phalen corridor. This 4-unit property features one expansive commercial space (that has been rented as separate spaces in the past) and 2 large residential units, offering multiple income streams and strong value-add potential. The main-level commercial space spans approximately 1,510 square feet with an additional 1,500 square feet of finished basement space, perfect for storage or conversion into additional leasable areas. The commercial unit could rent for as much as $3,000 per month, or be subdivided into multiple smaller spaces to maximize returns.
Upstairs, the 2 residential units are spacious and feature tall ceilings and flexible layouts, providing ideal conditions for interior upgrades that could command higher market rents. With thoughtful improvements, this property has the potential to generate excellent cash flow and appreciation in a district primed for growth.
The Payne Avenue corridor is undergoing one of Saint Paul's most significant redevelopment pushes, anchored by the Hamm's Brewery revitalization project and the Latino Economic Development Center's multi-million-dollar renovation, which will introduce a new event center, commercial kitchen, restaurants, and retail destinations to the area. These transformative projects are driving new investment, foot traffic, and business activity along Payne Avenue, making this the perfect time to acquire a property in this emerging commercial hub.
Positioned to benefit from the East Side's resurgence, 985 Payne Ave offers investors and owner-operators alike the opportunity to participate in the neighborhood's exciting next chapter while building long-term equity through strategic upgrades and rental optimization.
Buyer agents to verify all measurements.

Location

State MN

County Ramsey

Zoning Business/Commercial,Residential-Multi-Family

Interior

Heating Boiler

Inclusions Building, Fixture/Equipment, Leases, Rental License

Fireplace No

Exterior

Parking Features On-Street Parking Only

Utilities Available Electric Separate

Present Use Residential,Retail

Building

Foundation 3900

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Brick/Stone

Schools

School District St. Paul

Listed by William Schultz • Keller Williams Premier Realty

+1(608) 797-7230

josh@midwestlifestyleproperties.com

426 2nd Ave S, Onalaska, WI, 54650, United States

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