985 Payne Avenue, Saint Paul, MN 55130
sale
$400,000
|
Other
Courtesy Of Keller Williams Premier Realty
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.
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.
Read More About This Property
Read Less About This Property
Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Legal Description: J R WEIDE RE L28 30B15 L1 2B16 W 11 FT 8 INCHES OF LOT 4 AND ALL OF LOT 3 BLK 16
- MLSID: 6806885
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$500,000
Other
39 Viking Drive W
Little Canada, MN 55117
Land: 0.52 Acres
Courtesy Of Integrity Holdings Real Estate LLC
sale
$499,999
Other
2345 County Road H2
Mounds View, MN 55112
Land: 0.38 Acres
Courtesy Of NorthStar Real Estate Associates
sale
$450,000
Other
767 University Avenue W
Saint Paul, MN 55104
Land: 0.22 Acres
Courtesy Of John Lynden and Associates, Ltd. dba Lynden Realty, Ltd.
sale
$409,900
Other
1103 Weir Drive 200
Woodbury, MN 55125
Land: 0.07 Acres
Courtesy Of RE/MAX Professionals