Two-Unit Duplex with
New
For Sale
$290,000
114 Golder Road, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size1,844 SF
Lot Size0.52 Acres
Price / SF$157.27
Days on Market2
Property Features for 114 Golder Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MDR
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Parking features
Off Street
Patio and Porch features
Deck
Pets allowed
No
Basement
Walk-Out Access, Full, Unfinished
Lot features
Other Location, Wooded
Standard status
Active
Size
1,844 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2546
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Oil, Zoned, Wood Stove, Wood
Water source
Public
Amenities
deck
stream
Building Details
Year built
1892
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood, Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Metal
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Beth Bell
(207) 754-6500
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 4:06AM
MLS# 1678381
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 two-unit wood-frame duplex contains 1,844 square feet and was built in 1892. The property includes two bathrooms, wood, carpet, and vinyl flooring, plus a full unfinished basement. Each apartment has a spacious deck, and the building is served by an oil-fired hot water boiler with baseboard heat, zoned heating, and two electric hot water tanks. Tenants pay for their respective hot water. A metal roof and off-street gravel parking complement the improvements.
The property occupies a surveyed 0.52-acre lot on Golder Road, just off Sabattus Street on a short dead-end road. A small stream runs through the backyard. Public water and public sewer serve the building. The first-floor apartment is vacant, while the second-floor apartment is leased under an existing lease.
The property occupies a surveyed 0.52-acre lot on Golder Road, just off Sabattus Street on a short dead-end road. A small stream runs through the backyard. Public water and public sewer serve the building. The first-floor apartment is vacant, while the second-floor apartment is leased under an existing lease.
Key Highlights
- Two‑unit duplex with 1,844 square feet on a 0.52‑acre surveyed lot
- First‑floor unit is vacant; second‑floor unit is rented with a lease
- Each unit includes a spacious deck
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
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
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 apartment is vacant, while the upper unit is leased and includes heat.
Where is this duplex located?
The property is located at 114 Golder Road 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 on a 0.52‑acre surveyed lot; First‑floor unit is vacant; second‑floor unit is rented with a lease; Each unit includes a spacious deck
