4-Unit Multifamily
For Sale
$550,000
Pending
26-28 Wilson Street, Lewiston, ME 04240
Lewiston, ME
Property Size3,614 SF
Days on Market21
Property Features for 26-28 Wilson Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
4
Full bathrooms
4
Standard status
Pending
Size
3,614 SF
Amenities
dedicated storage
laundry hookups
rear porches
hardwood flooring
Building Details
Year built
1950
Listing Agency:
Auburn, Maine · Better Homes and Gardens Real Estate
(207) 782-8311
Listed By:
Mark Pilot
(207) 782-8311
Added: Aug 6
Changed: Aug 24
Last Checked: Aug 26 at 11:06AM
MLS# 1675010
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 3,614-square-foot quadplex contains four two-bedroom apartments in a building constructed in 1950. Each unit includes a defined floor plan, hardwood flooring, a kitchen with direct access to an exterior porch, and dedicated basement storage. Laundry hookups are provided for each apartment, while additional finished basement space expands the property’s usable interior area.
The property includes off-street parking and rear porches for the residents. Its Lewiston setting places the building near area hospitals, shopping, and recreation, with the address identified as 26-28 Wilson Street, Lewiston, ME 04240.
The property includes off-street parking and rear porches for the residents. Its Lewiston setting places the building near area hospitals, shopping, and recreation, with the address identified as 26-28 Wilson Street, Lewiston, ME 04240.
Key Highlights
- Four 2‑bedroom apartments in a 3,614‑square‑foot quadplex
- Dedicated basement storage and laundry hookups for each unit
- Additional finished basement space
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
$35,645
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
6.48%
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%
$712,900
$712.9K
Cap Rate 7%
$509,214
$509.2K
Cap Rate 9%
$396,056
$396.1K
Market Conditions
NOI Build-Up for 3,614 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
$51.6K $14.28/SF
− Vacancy
−$686 −$0.19/SF
EGI
$50.9K $14.09/SF
− OpEx
−$15.3K −$4.23/SF
NOI
$35.6K $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%
$712,900
Cap Rate 7%
$509,214
Cap Rate 9%
$396,056
Alternative Uses
Best Use
Multifamily LT 5
$509.2K
$445.6K – $594.1K
NOI $35,645 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$483.8K
$423.3K – $564.5K
NOI $33,867 @ 7.0% cap · market cap 6.16%
Theoretical Best
Warehouse
$6.42M
$5.62M – $7.49M
NOI $449,311 @ 7.0% cap · market cap 81.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
747
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?
Quadplex - Four two-bedroom apartments with private storage, laundry hookups, porches, and off-street parking.
Where is this quadplex located?
The property is located at 26-28 Wilson Street Lewiston, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four 2‑bedroom apartments in a 3,614‑square‑foot quadplex; Dedicated basement storage and laundry hookups for each unit; Additional finished basement space
