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Listing Details
- $560,000
- MLS# 6808073
- Type Commercial - Business
- Status Active
Listed By
Agency Name: Keller Williams Premier Realty
Agency Phone: 651-379-5252
Shown By
Agency Title: Town & Country Realty
Agency Phone: (701) 293-3333
Home Value Estimate
Description
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...read more
Features
- Heating: Boiler
- Stories: 2.0
- Taxes: $8,726
- Water: City Water/Connected
- Year Built: 1888
Gallery
Listed By
Agency Name: Keller Williams Premier Realty
Agency Phone: 651-379-5252
Shown By
Agency Title: Town & Country Realty
Agency Phone: (701) 293-3333
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