Updated 6-Unit Apartment
125 Pierce Street Lewiston, ME 04240
For Sale
$650,000
MULTI_FAMILY - Cape Cod - Lewiston, ME
Property Size5,734 SF
Lot Size0.10 Acres
Price / SF$113.36
Days on Market9
Property Features for 125 Pierce Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Downtown Res
- Bathrooms
- 6
- Rooms
- Bathroom 3, Bathroom 4, Bathroom 6, Bathroom 1, Bathroom 5, Basement, Bathroom 2
- Parking features
- Off Street
- Pets allowed
- No
- Interior features
- Storage
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 5,734 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3880
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Oil, Baseboard, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1891
- Floors in Building
- 3
- Number of units
- 6
- Flooring type
- Wood, Laminate, Vinyl
- Building materials
- Wood Frame, Asbestos, Wood Siding
- Roof type
- Shingle
- Architectural style
- Cape Cod
- Additional Structures
- Storage
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Thomas Gadbois · License #BA918504
(207) 409-8339
Added: Jul 16
Last Checked: Jul 24 at 8:06PM
MLS# 1672102
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This solid 6-unit apartment building offers a mix of (4) three-bedroom units and (2) two-bedroom units. According to the seller, multiple units have been updated with new flooring, paint, cabinets, and plumbing, along with new outside porches. The building also features siding improvements and a newer roof.
Located at 125 Pierce Street in Lewiston, Maine, the property sits within the Downtown Res zoning designation.
With both three- and two-bedroom configurations, the building provides an established rental mix within a compact footprint.
Located at 125 Pierce Street in Lewiston, Maine, the property sits within the Downtown Res zoning designation.
With both three- and two-bedroom configurations, the building provides an established rental mix within a compact footprint.
Key Highlights
- 6‑unit apartment building in Lewiston with (4) 3‑bedroom units and (2) 2‑bedroom units
- Units have been updated including flooring, paint, cabinets, and plumbing
- New outside porches, siding, and a newer roof
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.1k | $17.28 |
| − Vacancy | −$1.4k | −$0.24 |
| EGI | $97.7k | $17.04 |
| − OpEx | −$44.0k | −$7.67 |
| NOI | $53.7k | $9.37 |
5,734 SF · lease $17.28/SF/yr · vacancy 1.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$767.6K
$671.7K – $895.6K
NOI $53,733 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.18M
$8.91M – $11.88M
NOI $712,881 @ 7.0% cap · market cap 109.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with updated interiors, newer roof, and renovated outside porches and siding.
Where is this apartment building located?
The property is located at 125 Pierce Street Lewiston, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 6‑unit apartment building in Lewiston with (4) 3‑bedroom units and (2) 2‑bedroom units; Units have been updated including flooring, paint, cabinets, and plumbing; New outside porches, siding, and a newer roof
