TITLE:
890 Payne Ave
CONTROL:
Exclusive
VALUE:
$560,000
LOAN:
$300,000
EQUITY:
$260,000
TYPE:
Retail/Commercial
HAVE:
This mixed-use asset generates $67,884/year from a laundromat plus four apartments, with upside through light unit renovations and rent growth. Stabilization projects ~$40,102 NOI (+19%), with added value from the included B2-zoned lot.
ADDRESS:
890 Payne Ave, Saint Paul, Minnesota
BENEFITS TO NEW OWNER:
Property comes with a lot zoned for commercial use.
GROSS SCHEDULED INCOME:
$70,084 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$70,084
EXPENSES:
$34,151
NOI:
$35,933
DEBT SERVICE:
$0
CASH FLOW:
$35,933
CAP RATE:
6.42%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$300,000
$0
4%
12/31/1969
No
CAN ADD:
Other commercial and multifamily properties in the Twin Cities area
COUNSELOR:
William Schultz
KW Commercial/Keller Williams Premier
625 Bielenberg Drive
Saint Paul, Minnesota, 55125
