985 Payne Avenue,Saint Paul, MN 55130
Saint Paul, MN 55130
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.
Details
| MLS # | 6806885 |
|---|---|
| Listing Type | For Sale |
| Style | Other |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1917 |
| Days On Site | 330 |
| Listing Provided By | Keller Williams Premier Realty | William Schultz |
Features
| Bath(s) | 4 |
|---|---|
| SQ Feet | 6,450 |
| Story(s) | 1 |
| Units | 4 |
| Zoning | Business/Commercial,Residential- |
| Acreage | 0.05 |
Interior
| Heating | Boiler |
|---|
Exterior
| Construction Materials | Brick/Stone |
|---|
Parking
| Parking Features | On-Street Parking Only |
|---|
Utilities
| Utilities | Electric Separate |
|---|
Taxes
| Property | 9366 |
|---|
Area Information
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55130 |
| Area | 98 |
| Community Name | J R Weide Re L28 30b15 L1 2b16 |
| School District | 625 |
| High School | St. Paul |
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of October 7, 2026 at 7:48:29 PM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
Contact
Learn More About This Property
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55130 |
| Area | 98 |
| Community Name | J R Weide Re L28 30b15 L1 2b16 |
| School District | 625 |
| High School | St. Paul |
Listings courtesy of Northstar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
