Tenant-Occupied Triplex with
For Sale
$389,900
209-213 Sabattus Street, Lewiston, ME 04240
Lewiston, ME
Property Size3,160 SF
Price / SF$123.39
Days on Market15
Property Features for 209-213 Sabattus Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
3
Full bathrooms
3
Elementary school district
Lewiston Public Schools
Middle school district
Lewiston Public Schools
High school district
Lewiston Public Schools
Standard status
Active
Size
3,160 SF
Building Details
Year built
1891
Listing Agency:
Auburn, Maine · Better Homes and Gardens Real Estate
(207) 782-8311
Listed By:
Mark Pilot
(207) 782-8311
Added: Aug 12
Changed: Aug 25
Last Checked: Aug 26 at 11:06AM
MLS# 1675865
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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 3,160-square-foot triplex contains three tenant-occupied apartments with spacious rooms throughout. Built in 1891, the property also includes a third-floor area that is currently unused. The space has direct access from the second-floor unit and includes multiple rooms that could expand that residence across multiple levels.
The property is located at 209-213 Sabattus Street in Lewiston, Maine. Site improvements include multiple paved driveways providing off-street parking and a detached garage. Its central Lewiston setting places the building near area amenities.
The property is located at 209-213 Sabattus Street in Lewiston, Maine. Site improvements include multiple paved driveways providing off-street parking and a detached garage. Its central Lewiston setting places the building near area amenities.
Key Highlights
- Three‑unit, tenant‑occupied triplex
- 3,160 square feet across the property
- Third floor currently unused with direct access from the second‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,167
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$623,340
$623.3K
Cap Rate 7%
$445,243
$445.2K
Cap Rate 9%
$346,300
$346.3K
Market Conditions
NOI Build-Up for 3,160 SF
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.
Gross rent
$45.1K $14.28/SF
− Vacancy
−$600 −$0.19/SF
EGI
$44.5K $14.09/SF
− OpEx
−$13.4K −$4.23/SF
NOI
$31.2K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$623,340
Cap Rate 7%
$445,243
Cap Rate 9%
$346,300
Alternative Uses
Best Use
Multifamily LT 5
$445.2K
$389.6K – $519.5K
NOI $31,167 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$423.0K
$370.2K – $493.5K
NOI $29,612 @ 7.0% cap · market cap 7.59%
Theoretical Best
Warehouse
$5.61M
$4.91M – $6.55M
NOI $392,868 @ 7.0% cap · market cap 100.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied three-unit property with paved off-street parking and a detached garage.
Where is this triplex located?
The property is located at 209-213 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three‑unit, tenant‑occupied triplex; 3,160 square feet across the property; Third floor currently unused with direct access from the second‑floor unit
