125 Scribner Boulevard, Lewiston, ME 04240

Building Details

Building Size 1,272 SF More

Year Built 1948 More

Year Renovated 2019 More

Listing Agency: Integrity Homes Real Estate Group, PC b***@gmail.com Show Phone

Listed By: Doreen Gagne Show Phone

Source: Integrityhomesrealestategroup

Added: Aug 29, 2023 Changed: Nov 11 Last Checked: Nov 11 at 2:20AM

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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 Integrity Homes Real Estate Group, PC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,272-square-foot convenience store was built in 1948 and received a complete interior renovation in 2019. The sale includes the store’s equipment, and the building has a new roof, a metal rear door, a delivery ramp, and a propane monitor heating system.

Zoning is NCA. The store offers hot and cold food alongside a selection of grocery items.

Key Highlights

• 1,272‑square‑foot convenience store
• Interior fully renovated in 2019
• Sale includes all store equipment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,303

Cap Rate

7.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,060 $266.1K

Cap Rate 7%

$190,043 $190.0K

Cap Rate 9%

$147,811 $147.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,272 SF

Gross rent

$22.9K $18.00/SF

− Vacancy

−$3.9K −$3.06/SF

EGI

$19.0K $14.94/SF

− OpEx

−$5.7K −$4.48/SF

NOI

$13.3K $10.46/SF

Area

Androscoggin County, ME

Vacancy

17.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,060

Cap Rate 7%

$190,043

Cap Rate 9%

$147,811

Alternative Uses

Best Use

Retail

$190.0K

$166.3K – $221.7K (±1% cap)

NOI $13,303 @ 7.0% cap · market cap 7.82%

Second Best

Specialty Retail

$146.6K

$128.3K – $171.0K (±1% cap)

NOI $10,262 @ 7.0% cap · market cap 6.03%

Theoretical Best

Office A

$395.6K

$346.2K – $461.6K (±1% cap)

NOI $27,693 @ 7.0% cap · market cap 16.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Vittles & Variety Restaurant

Suggested Use

Top Pick Law Firm Real Estate Agency Electrical Service Dental Office HVAC Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

281

Businesses Nearby

60k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 81% Electronics 12% Shops & Services 4% Home Improvements & Furnishings 2%

McDonald's Dining

27,963 visits/mo 0.5 miles

Dunkin' Donuts Dining

14,099 visits/mo 0.4 miles

Apple Store Electronics

7,145 visits/mo 0.4 miles

D'Angelo Grilled Sandwiches Dining

3,855 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

2,677 visits/mo 0.5 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Prepared hot and cold foods complement a selection of small grocery items, with rear access for deliveries.

Where is this grocery and convenience store located?

The property is located at 125 Scribner Boulevard Lewiston, ME.

What is the asking price?

The asking price for this property is $170,200.

What are key features of this property?

This property features: 1,272‑square‑foot convenience store; Interior fully renovated in 2019; Sale includes all store equipment