Flex Space with Mechanic
For Sale
$699,900
1225 Sabattus Street, Lewiston, ME 04240
Commercial Sale, Lewiston, ME
Property Size448 SF
Lot Size5.20 Acres
Price / SF$1,562
Days on Market94
Property Features for 1225 Sabattus Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Highway Business
Lot features
Business District
Standard status
Active
Size
448 SF
Lot size
5.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2184
Building Details
Year built
1980
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Eric Milliken
(207) 240-4217
Added: Jun 11
Changed: Aug 19
Last Checked: Sep 12 at 9:06AM
MLS# 1654205
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 Highway Business-zoned flex property at 1225 Sabattus Street includes a 448-square-foot building with dedicated office space and a mechanic garage. The site also features an open commercial lot that can accommodate parking, equipment, or other operational needs.
The property occupies 5.2 acres in Lewiston, Maine, along a route with a 2023 traffic count of approximately 10,670 vehicles per day. Built in 1980, the configuration brings administrative, service, storage, and workshop functions together within one commercial setting.
The property occupies 5.2 acres in Lewiston, Maine, along a route with a 2023 traffic count of approximately 10,670 vehicles per day. Built in 1980, the configuration brings administrative, service, storage, and workshop functions together within one commercial setting.
Key Highlights
- 5.2‑acre commercial site in Lewiston, ME
- 448‑square‑foot building constructed in 1980
- Dedicated office space and mechanic garage
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
$45,869
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
6.55%
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%
$917,380
$917.4K
Cap Rate 7%
$655,271
$655.3K
Cap Rate 9%
$509,656
$509.7K
Market Conditions
NOI Build-Up for 448 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
$67.2K $150.00/SF
− Vacancy
−$1.7K −$3.74/SF
EGI
$65.5K $146.27/SF
− OpEx
−$19.7K −$43.88/SF
NOI
$45.9K $102.39/SF
Area
Androscoggin County, ME
Vacancy
2.49%
Lease Rate
$150.00 /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%
$917,380
Cap Rate 7%
$655,271
Cap Rate 9%
$509,656
Alternative Uses
Best Use
Industrial
$655.3K
$573.4K – $764.5K
NOI $45,869 @ 7.0% cap · market cap 6.55%
Second Best
Office B
$103.7K
$90.7K – $121.0K
NOI $7,259 @ 7.0% cap · market cap 1.04%
Theoretical Best
Warehouse
$795.7K
$696.2K – $928.3K
NOI $55,698 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10,670 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Highway Business-zoned property combines office space, a mechanic garage, and an open commercial lot.
Where is this flex space located?
The property is located at 1225 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 5.2‑acre commercial site in Lewiston, ME; 448‑square‑foot building constructed in 1980; Dedicated office space and mechanic garage
