Lewiston Multifamily Building For
For Sale
$625,000
125 Pierce Street, Lewiston, ME 04240
Six-unit apartment building in Lewiston's revitalization area.
Property Size5,734 SF
Price / SF$108
Days on Market158
Property Features for 125 Pierce Street
General Information
Standard status
Active
Size
5,734 SF
Property subtype
Multi-Family
Zoning
Downtown Res
Taxes and HOA fees
Annual Taxes
$3,880
Amenities
Oil, Baseboard, Hot Water, Zoned
Bulkhead, Interior Entry, Full, Unfinished
Laminate, Vinyl, Wood
Storage
Internet Access Available
No
Yes
6
6.0
Shingle
Building Details
Year Built
1891
Listing Agency:
Maine Source Realty
(207) 513-0373
Listed By:
Dustin Mallar · License #BA918504
(207) 513-0373
Source:
Compass
Added: Mar 27
Changed: Aug 27
Last Checked: Aug 31 at 12:17AM
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 Maine Source Realty
Investment Insights
Based on property information with market context.
This six-unit apartment building is located in Lewiston. The property features four three-bedroom units and two two-bedroom units. All units have been updated with new flooring, paint, cabinets, and plumbing. The building also includes new outside porches and siding, as well as a newer roof. The property size is 5734 square feet.
Key Highlights
- Updated Units: All 6 units have been updated with new flooring, paint, cabinets, and plumbing.
- New Exterior Features: Enjoy brand new outside porches and siding.
- Newer Roof: Benefit from the peace of mind of a newer roof.
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
$53,733
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
8.60%
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%
$1,074,660
$1.1M
Cap Rate 7%
$767,614
$767.6K
Cap Rate 9%
$597,033
$597.0K
Market Conditions
NOI Build-Up for 5,734 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
$99.1K $17.28/SF
− Vacancy
−$1.4K −$0.24/SF
EGI
$97.7K $17.04/SF
− OpEx
−$44.0K −$7.67/SF
NOI
$53.7K $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%
$1,074,660
Cap Rate 7%
$767,614
Cap Rate 9%
$597,033
Alternative Uses
Best Use
Apartment 5plus
$767.6K
$671.7K – $895.6K
NOI $53,733 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.18M
$8.91M – $11.88M
NOI $712,881 @ 7.0% cap · market cap 114.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,708
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?
Apartment building - Six-unit apartment building in Lewiston's revitalization area.
Where is this apartment building located?
The property is located at 125 Pierce Street Lewiston, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Updated Units: All 6 units have been updated with new flooring, paint, cabinets, and plumbing.; New Exterior Features: Enjoy brand new outside porches and siding.; Newer Roof: Benefit from the peace of mind of a newer roof.
