985 Payne Avenue Saint Paul, MN $ 400,000
985 Payne Avenue
$ 400,000
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985 Payne Avenue

Saint Paul, MN, 55130
$ 400,000
Bedrooms-- Baths4.0

Monthly Estimate*

$ 2,763

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Commercial Property for sale in Saint Paul, MN

for $400,000 with 4 full baths. This building was built in 1917 on a lot size of 0.052.

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.

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Commercial Pending

Price

$ 400,000

Full Bath

4

Property Type

Commercial

Taxes

$ 9,366

Style

Lot Size

0.052

Year Built

1917

Town/City

Saint Paul

County/Region

Ramsey

MLS | Web ID

6806885

Features
General
Sewer City Sewer/Connected
Heating Boiler
Utilities Electric Separate
Garage Spaces 0
Year Built 1917
Tenant Pays Electricity
Levels One
Tax Year 2025
Current Use Residential Retail
Gross Income 51740
Accessibility None
County Ramsey
Net Operating Income 27340
Operating Expense 24400
New Construction N
Property Type Commercial Sale
Contingency None
Subdivision Name J R Weide Re L28-30b15 L1-2b16
Possible Use Office Other Professional Service Retail Shop Grocery
Directions 35 E TO MARYLAND TO PAYNE AVE
City Saint Paul
High School District St. Paul
Zoning Description Business/Commercial Residential-Multi-Family
Number Of Units Total 4
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 9366
Additional Parcels Y/N N
Standard Status Pending
Lender Owned No
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Exterior
Parking Features On-Street Parking Only
Water Source City Water/Connected
Inclusions Building Fixture/Equipment Leases Rental License
Lot Size Area 0.052
Lot Dimensions 50 x 78
Waterfront Y/N N
Foundation Area 3900
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Interior
Basement (Y/N) N
Total Bedrooms 0
Total Baths 4
Foundation Dimensions 3900
Fuel Natural Gas
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Internal Only
Street Number 1 985
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* Excluded Features
List By
Keller Williams Premier Realty

Broker

william.schultz@kw.com

Email

Affordability Calculator

$3,543
Per Month
78%
22%
0%
Monthly Principal & Interest
$2,763
Monthly Property Taxes
$781
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
709337 Elementary School
708288 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/11/2025$400,000 Listed Price

Map


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985 Payne Avenue, Saint Paul, MN, 55130 is a Commercial Property for sale at $400,000 with a lot size of 0.052. 985 Payne Avenue has 4.0 baths and was built in 1917. The property's zip code is 55130 which is in Saint Paul, MN