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981 Payne Ave
Saint Paul, MN 55130
Retail Property For Sale
Investment Highlights
- Fully finished commercial property with three sections, currently operated as a beauty salon and barbershop.
- Excellent visibility and steady foot traffic along Payne Avenue, a key commercial corridor
- Flexible floor plan supports multi-operator use or conversion into a single retail/service space.
- Located near major redevelopment projects fueling commercial growth and property value appreciation
Executive Summary
This property offers a fully built-out 1,556-square-foot commercial space in Saint Paul’s Payne-Phalen corridor, priced at $250,000 with a 6.25% cap rate. Featuring a flexible layout currently used as a beauty salon and barbershop, it provides strong visibility, steady foot traffic, and recent upgrades that enhance rental potential. Surrounded by major redevelopment projects, the location is well-positioned for long-term appreciation and income growth.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
2,000 SF
Building Class
C
Year Built
1922
Price
$250,000
Price Per SF
$125
Cap Rate
6.25%
NOI
$15,625
Tenancy
Single
Building Height
1 Story
Building FAR
0.77
Lot Size
0.06 AC
Zoning
B2 - Community Business
Frontage
9’ on Payne Ave
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 29-29-22-13-0158 | Improvements Assessment | $227,400 |
| Land Assessment | $19,500 | Total Assessment | $246,900 |
Property Taxes
Parcel Number
29-29-22-13-0158
Land Assessment
$19,500
Improvements Assessment
$227,400
Total Assessment
$246,900
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