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977 Payne Ave
Saint Paul, MN 55130
Retail Property For Sale
Investment Highlights
- Fully occupied mixed-use building
- Proximity to Hamm’s Brewery and Latino EDC revitalization projects
- Located in the Payne-Phalen corridor, one of Saint Paul’s most vibrant and actively redeveloping areas
- Flexible layout
Executive Summary
This mixed-use property at 977 Payne Avenue presents a compelling value-add investment located in one of Saint Paul’s most active redevelopment corridors. Currently fully occupied, the property offers stabilized income with a 6.02% CAP rate and significant potential for upside. Featuring well-maintained commercial space and an upper-level ideal for expansion or repositioning, this asset provides multiple strategies for enhancing returns—whether through office reconfiguration, creation of new leasable suites, or conversion to residential. Existing plumbing and electrical infrastructure reduce redevelopment costs and accelerates project timelines. Positioned near major revitalization projects, including Hamm’s Brewery and the Latino Economic Development Center initiatives, this property is well-poised for appreciation and consistent demand growth.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,200 SF
Building Class
C
Year Built
1884
Price
$502,021 CAD
Price Per SF
$119.53 CAD
Cap Rate
6.02%
NOI
$30,222 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
3.35
Lot Size
0.03 AC
Zoning
B2 - Community Business
Frontage
24’ on Payne Ave
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 29-29-22-13-0157 | Improvements Assessment | $399,691 CAD |
| Land Assessment | $13,754 CAD | Total Assessment | $413,445 CAD |
Property Taxes
Parcel Number
29-29-22-13-0157
Land Assessment
$13,754 CAD
Improvements Assessment
$399,691 CAD
Total Assessment
$413,445 CAD
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