Four-Unit Quadplex with
For Sale
$595,000
7 Shawmut Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size5,720 SF
Lot Size0.23 Acres
Price / SF$104.02
Days on Market34
Property Features for 7 Shawmut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MFU
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3, Bathroom 4
Patio and Porch features
Porch
Pets allowed
No
Interior features
Bathtub, Pantry, Shower
Basement
Full, Unfinished
Lot features
Sidewalks, Intown, Near Shopping, Near Public Transit
Standard status
Active
Size
5,720 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3458
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Other (Heating)
Water source
Public
Amenities
common areas
storage areas
garbage room
Building Details
Year built
1920
Floors in Building
3
Number of units
4
Flooring type
Hardwood, Tile - Ceramic
Building materials
Wood Frame, Asbestos
Roof type
Membrane
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 773-1990
Listed By:
Jay Weinberg · License #BA905386
(207) 650-9119
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 22 at 5:06AM
MLS# 1662695
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.
Four-unit quadplex on a double lot (0.23 acres) with 5,720 SF. Built in 1920 with wood-frame construction and a membrane roof. Interiors feature a mix of hardwood and ceramic tile flooring, along with interior amenities that include a pantry and shower/bathtub fixtures.
The property includes multiple common areas, storage areas, and a dedicated garbage room. Each unit is described as having washer and dryer hookups, and the layouts include two 1-bedroom units and two larger 3-bedroom units. Several units also offer porches, including small front porches and larger rear porches, plus storage rooms with dryer hookups for the 3-bedroom units.
Utilities and services are listed as public water and public sewer, with heating that includes hot water heat and natural gas. The listing also notes the property is 100% up to all current fire codes and includes numerous upgrades completed over time, with the same ownership for over 20 years.
The property includes multiple common areas, storage areas, and a dedicated garbage room. Each unit is described as having washer and dryer hookups, and the layouts include two 1-bedroom units and two larger 3-bedroom units. Several units also offer porches, including small front porches and larger rear porches, plus storage rooms with dryer hookups for the 3-bedroom units.
Utilities and services are listed as public water and public sewer, with heating that includes hot water heat and natural gas. The listing also notes the property is 100% up to all current fire codes and includes numerous upgrades completed over time, with the same ownership for over 20 years.
Key Highlights
- 0.23‑acre double lot with 5,720 SF quadplex
- Four units: two 1‑bedroom and two 3‑bedroom units
- Washer and dryer hookups in the units
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
$53,602
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
9.01%
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%
$1,072,040
$1.1M
Cap Rate 7%
$765,743
$765.7K
Cap Rate 9%
$595,578
$595.6K
Market Conditions
NOI Build-Up for 5,720 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
$98.8K $17.28/SF
− Vacancy
−$1.4K −$0.24/SF
EGI
$97.5K $17.04/SF
− OpEx
−$43.9K −$7.67/SF
NOI
$53.6K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,072,040
Cap Rate 7%
$765,743
Cap Rate 9%
$595,578
Alternative Uses
Best Use
Multifamily LT 5
$806.0K
$705.2K – $940.3K
NOI $56,417 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.4K
NOI $53,602 @ 7.0% cap · market cap 9.01%
Theoretical Best
Warehouse
$10.16M
$8.89M – $11.85M
NOI $711,140 @ 7.0% cap · market cap 119.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,245
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 - Well-maintained four-unit quadplex with porches, natural gas heating, and public water and sewer.
Where is this quadplex located?
The property is located at 7 Shawmut Street Lewiston, ME.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 0.23‑acre double lot with 5,720 SF quadplex; Four units: two 1‑bedroom and two 3‑bedroom units; Washer and dryer hookups in the units
