Three-Bay Auto Repair
For Sale
$240,000
61 Lincoln Street, Lewiston, ME 04240
COMMERCIAL - Lewiston, ME
Property Size1,947 SF
Lot Size0.23 Acres
Price / SF$123.27
Days on Market36
Property Features for 61 Lincoln Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RF
Parking features
On Street
Lot features
Public Transport Access, Downtown, Business District, Bus Line, Near Shopping
Standard status
Active
Size
1,947 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3040
Utilities
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Water source
Public
Building Details
Year built
1954
Flooring type
Concrete
Building materials
Masonry, Block
Roof type
Flat, Membrane
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Aaren James
(207) 699-7022
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 6 at 11:06AM
MLS# 1667306
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 turnkey automotive repair facility includes a three-bay garage offered with the real estate and an extensive equipment package. The shop is equipped with two working lifts, a tire machine with helper, a tire balancer, bearing press, compressor, MIG welder, and torch setup, along with office furniture, shop tools, and additional equipment.
Built in 1954, the building features masonry block construction, concrete flooring, oil and forced air heating, and a flat membrane roof. The property sits on a high-visibility corner lot with on-street parking, and it is served by public water and public sewer.
With a history of more than 50 years of operation, the facility is designed to support day-to-day auto repair workflows in a straightforward shop layout.
Built in 1954, the building features masonry block construction, concrete flooring, oil and forced air heating, and a flat membrane roof. The property sits on a high-visibility corner lot with on-street parking, and it is served by public water and public sewer.
With a history of more than 50 years of operation, the facility is designed to support day-to-day auto repair workflows in a straightforward shop layout.
Key Highlights
- Three‑bay automotive repair garage with extensive included equipment
- Two working lifts plus tire machine with helper and tire balancer
- More than 50 years of operating history
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
$20,362
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
8.48%
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%
$407,240
$407.2K
Cap Rate 7%
$290,886
$290.9K
Cap Rate 9%
$226,244
$226.2K
Market Conditions
NOI Build-Up for 1,947 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
$35.0K $18.00/SF
− Vacancy
−$6.0K −$3.06/SF
EGI
$29.1K $14.94/SF
− OpEx
−$8.7K −$4.48/SF
NOI
$20.4K $10.46/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$407,240
Cap Rate 7%
$290,886
Cap Rate 9%
$226,244
Alternative Uses
Best Use
Industrial
$2.85M
$2.49M – $3.32M
NOI $199,345 @ 7.0% cap · market cap 83.06%
Second Best
Retail
$290.9K
$254.5K – $339.4K
NOI $20,362 @ 7.0% cap · market cap 8.48%
Theoretical Best
Warehouse
$3.46M
$3.03M – $4.03M
NOI $242,061 @ 7.0% cap · market cap 100.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
2,354
Businesses Nearby
33k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Hotels & Casinos 27%
Citgo
Shops & Services
8,720 visits/mo
0.4 miles
Hilton Garden Inn Auburn Riverwatch
Hotels & Casinos
6,373 visits/mo
0.3 miles
TD Bank
Shops & Services
6,313 visits/mo
0.3 miles
Gulf Oil
Shops & Services
4,920 visits/mo
0.5 miles
Citgo
Shops & Services
4,300 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Brandon's mobile auto repair — 9th St, Auburn, ME 04210
- Lewiston Radiator Works — 48 Riverside Dr, Auburn, ME 04210
- Young Guns Services Center — 105 Riverside Dr #6924, Auburn, ME 04210
- Sullivan Tire & Auto Service — 805 Lisbon St, Lewiston, ME 04240
- Brad's Precision Auto Repair — 144 Riverside Dr, Auburn, ME 04210
Frequently Asked Questions
What type of property is this?
Auto shop - Three-bay garage on a high-visibility corner lot, equipped with automotive repair tools and served by public water and sewer.
Where is this auto shop located?
The property is located at 61 Lincoln Street Lewiston, ME.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three‑bay automotive repair garage with extensive included equipment; Two working lifts plus tire machine with helper and tire balancer; More than 50 years of operating history
