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    457 Old Lewiston Rd Winthrop, ME 04364

    Sponsored
    For Sale
    $1,065,000

    COMMERCIAL - Winthrop, ME

    Property size:
    13,718 SF
    Lot size:
    5.30 Acres
    Days on Market:
    9
    Last Refresh:
    Feb 26 at 3:06 pm

    Property Features for 457 Old Lewiston Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Mixed
    Rooms
    Basement
    Parking features
    Offsite
    Interior features
    Storage
    Basement
    Unfinished, Full
    Size
    13,718 SF
    Lot size
    5.30 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Heat Pump (Heating), Hot Water(Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1968
    Flooring type
    Wood, Vinyl, Laminate
    Building materials
    Wood Siding, Vinyl Siding, Other Exterior, Wood Frame
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    James Pepin

    Sprague and Curtis Real Estate (207) 623-1123

    Listing agent James Pepin (207) 623-1123

    Listing date Feb 18, 2026

    MLS# 1646929

    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.

    Learn more

    Property Insight Report

    Overview

    Winthrop Multi-Use Redevelopment Opportunity

    This multi-use building presents an investment opportunity with redevelopment potential. Situated on a 5.3-acre lot, the property offers road frontage, ample parking, and expansion possibilities. The surrounding area is quiet and somewhat rural, with proximity to both Augusta and Lewiston. The building spans over 13,000 square feet, with additional space available in the basement. Inside, there are individual rooms and baths, an entry/reception area, nurses' stations, and multiple offices. A spacious, sunny two-room dining area features seating capacity and two fireplaces, and there is also a beauty salon. The building has two levels with an elevator that also accesses the basement. It is equipped with BBHW heat, some heat pumps, and vinyl windows. The full basement includes a laundry, kitchen, staff offices, and storage. Additional features include a propane generator system, a sprinkler system, city water and sewer, and ramps. There are approximately 60 parking spaces in two areas, one in front and one in back. A section of the building was flooded and has been remediated. Formerly a 52-bed assisted living and rehabilitation center, the property is a candidate for redevelopment into an apartment building or living facility. Seller bridge financing may be available to qualified buyers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Teresa E. ... Physician Heritage Residential Care Home Health Care Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Winthrop
    County
    Kennebec
    State
    Maine
    Longitude
    -70.0033804
    Latitude
    44.2880526

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    FAQs

    What type of property is this?
    Assisted living facility - Large multi-use building on 5.3 acres with redevelopment potential.
    Where is this assisted living facility located?
    The property is located at 457 Old Lewiston Rd Winthrop, ME.
    What is the asking price?
    The asking price for this property is $1,065,000.
    What are key features of this property?
    This property features: - Large multi-use building with over 13,000 SF on a 5.3-acre lot.; - Excellent redevelopment potential for apartments, living facilities, or other uses.; - Full basement with usable space including laundry, kitchen, staff offices, and storage, accessible by elevator.
    (207) 242-3015
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    457 Old Lewiston Rd Winthrop, ME 04364
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    457 Old Lewiston Rd Winthrop, ME 04364
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    We can help!
    Listing Contact
    James Pepin
    (207) 242-3015 (207) 623-1123
    Learn more
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