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1132 Payne Ave 2,613 SF 100% Leased Office Building Saint Paul, MN 55130 $275,000 ($105.24/SF) 6.63% Cap Rate
Investment Highlights
- Close to major community investments, including Hamm’s Brewery and Latino Economic Development Center projects.
- Mixed-use layout delivering diversified income from commercial and residential units
- Located along revitalizing Payne Avenue, one of Saint Paul’s key redevelopment corridors
- Strong long-term appreciation prospects fueled by ongoing neighborhood transformation
Executive Summary
1132 Payne Avenue offers a compelling value-add investment opportunity in Saint Paul’s Payne-Phalen corridor, a neighborhood undergoing significant revitalization. This mixed-use property features three fully occupied units, providing immediate income with strong upside potential through renovations and rent enhancements. Positioned in an active redevelopment zone near major projects like the Hamm’s Brewery redevelopment and the Latino Economic Development Center’s $1 million reinvestment, this property is well-situated for future growth and appreciation. With its central location and favorable B2 Community Business zoning, the building serves both commercial and residential uses, appealing to investors seeking stable returns and long-term value.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
2,613 SF
Building Class
C
Year Built
1900
Price
$275,000
Price Per SF
$105.24
Cap Rate
6.63%
NOI
$18,233
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,613 SF
Slab To Slab
11’
Building FAR
1.03
Lot Size
0.06 AC
Zoning
B2 - Community Business
Amenities
- Bus Line
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 29-29-22-12-0038 | Improvements Assessment | $242,400 |
| Land Assessment | $20,200 | Total Assessment | $262,600 |
Property Taxes
Parcel Number
29-29-22-12-0038
Land Assessment
$20,200
Improvements Assessment
$242,400
Total Assessment
$262,600
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1132 Payne Ave
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