Two-Unit Duplex with
New
For Sale
$290,000
114 Golder Rd, Lewiston, ME 04240
One unit is leased, while the other is vacant and ready for occupancy.
Property Size1,844 SF
Price / SF$157.27
Days on Market2
Property Features for 114 Golder Rd
General Information
Standard status
Active
Size
1,844 SF
Property subtype
Multi-Family
Building Details
Year Built
1892
Listing Agency:
Keller Williams Realty
Listed By:
Beth Bell
(207) 754-6500
Source:
Aroostookrealestate
Added: Sep 1
Last Checked: Sep 1 at 10:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,844-square-foot duplex, built in 1892, contains two separate units. The first-floor unit is vacant, and the second-floor unit is leased. Each unit has a spacious deck, while the full unfinished basement provides additional utility space. Heating is provided by an oil-fired hot-water boiler, and each unit has its own electric hot-water tank.
The property occupies a surveyed .52-acre lot at 114 Golder Rd in Lewiston, just off Sabattus St on a short dead-end road. A small stream runs through the backyard, and gravel parking serves the building. Public water and sewer are available. The leased unit’s hot water is paid by the tenant.
The property occupies a surveyed .52-acre lot at 114 Golder Rd in Lewiston, just off Sabattus St on a short dead-end road. A small stream runs through the backyard, and gravel parking serves the building. Public water and sewer are available. The leased unit’s hot water is paid by the tenant.
Key Highlights
- Two‑unit duplex with 1,844 square feet of building area
- Surveyed .52‑acre lot at 114 Golder Rd, Lewiston, ME 04240
- First‑floor unit is vacant; second‑floor unit is leased
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
$18,187
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
6.27%
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%
$363,740
$363.7K
Cap Rate 7%
$259,814
$259.8K
Cap Rate 9%
$202,078
$202.1K
Market Conditions
NOI Build-Up for 1,844 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
$26.3K $14.28/SF
− Vacancy
−$350 −$0.19/SF
EGI
$26.0K $14.09/SF
− OpEx
−$7.8K −$4.23/SF
NOI
$18.2K $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%
$363,740
Cap Rate 7%
$259,814
Cap Rate 9%
$202,078
Alternative Uses
Best Use
Multifamily LT 5
$259.8K
$227.3K – $303.1K
NOI $18,187 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$246.9K
$216.0K – $288.0K
NOI $17,280 @ 7.0% cap · market cap 5.96%
Theoretical Best
Warehouse
$3.28M
$2.87M – $3.82M
NOI $229,256 @ 7.0% cap · market cap 79.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
71
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?
Duplex - One unit is leased, while the other is vacant and ready for occupancy.
Where is this duplex located?
The property is located at 114 Golder Rd Lewiston, ME.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,844 square feet of building area; Surveyed .52‑acre lot at 114 Golder Rd, Lewiston, ME 04240; First‑floor unit is vacant; second‑floor unit is leased
