15-Unit Apartment
New
For Sale
$1,500,000
111-117 Ash Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size13,794 SF
Lot Size0.22 Acres
Price / SF$108.74
Days on Market2
Property Features for 111-117 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DR
Bathrooms
16
Full bathrooms
16
Rooms
Bathroom 13, Bathroom 2, Bathroom 11, Basement, Bathroom 8, Bathroom 15, Bathroom 3, Bathroom 10, Bathroom 14, Bathroom 9, Bathroom 16, Bathroom 6, Bathroom 7, Bathroom 5, Bathroom 4, Bathroom 12, Bathroom 1
Parking features
Off Street
Patio and Porch features
Porch
Pets allowed
No
Basement
Full, Unfinished, Walk-Out Access
Lot features
Rolling/ Sloping, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
13,794 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10511
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Natural Gas, Other (Heating)
Water source
Public
Building Details
Year built
1891
Number of units
15
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle
Architectural style
Other
Buildings
3
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Garret Getch
(207) 841-9433
Added: Nov 5
Last Checked: Nov 6 at 10:06AM
MLS# 1680498
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.
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Investment Insights
Based on property information with market context.
This Lewiston apartment portfolio spans three neighboring buildings at 111, 115, and 117 Ash Street, with 15 apartments totaling 13,794 square feet. The unit mix includes studios, one-bedroom apartments, and three-bedroom apartments. Nearly all apartments in the 111 Ash Street building have been renovated. Four units across the portfolio are vacant, and the properties are zoned DR.
The buildings sit across from the Basilica of Saints Peter and Paul and are minutes from downtown Lewiston. Public water and sewer serve the properties, with off-street parking and porches also noted.
The buildings sit across from the Basilica of Saints Peter and Paul and are minutes from downtown Lewiston. Public water and sewer serve the properties, with off-street parking and porches also noted.
Key Highlights
- 15 apartments across three neighboring buildings
- 13,794 square feet in total
- Unit mix includes studios, one‑bedroom, and three‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,263
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,585,260
$2.6M
Cap Rate 7%
$1,846,614
$1.8M
Cap Rate 9%
$1,436,256
$1.4M
Market Conditions
NOI Build-Up for 13,794 SF
Gross rent
$238.4K $17.28/SF
− Vacancy
−$3.3K −$0.24/SF
EGI
$235.0K $17.04/SF
− OpEx
−$105.8K −$7.67/SF
NOI
$129.3K $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 Rate 5%
$2,585,260
Cap Rate 7%
$1,846,614
Cap Rate 9%
$1,436,256
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.15M
NOI $129,263 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$24.50M
$21.44M – $28.58M
NOI $1,714,942 @ 7.0% cap · market cap 114.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
1,998
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three side-by-side buildings offer a mix of studio, one-bedroom, and three-bedroom apartments in Lewiston.
Where is this apartment building located?
The property is located at 111-117 Ash Street Lewiston, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 15 apartments across three neighboring buildings; 13,794 square feet in total; Unit mix includes studios, one‑bedroom, and three‑bedroom apartments
