5-Unit Mixed-Use
For Sale
$589,000
128 Pine Street, Lewiston, ME 04240
The property combines five apartments with ground-floor commercial space and is fully leased.
Property Size5,530 SF
Price / SF$106.51
Days on Market9
Property Features for 128 Pine Street
General Information
Standard status
Active
Size
5,530 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
5
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Edward Baldacci · License #BA930083
(207) 939-2969
Source:
Profoundrealestate
Added: Oct 15
Changed: Oct 23
Last Checked: Oct 23 at 9:58AM
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
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Investment Insights
Based on property information with market context.
At 128 Pine Street, this 5,530-square-foot mixed-use building contains five residential units and commercial space on the first floor. The property was built in 1900 and is fully leased, with residential and commercial tenants occupying the building.
The building is in downtown Lewiston, near hospitals, colleges, public transportation, shopping, dining, and major commuter routes. Its surroundings include employment, education, healthcare, and neighborhood amenities.
The building is in downtown Lewiston, near hospitals, colleges, public transportation, shopping, dining, and major commuter routes. Its surroundings include employment, education, healthcare, and neighborhood amenities.
Key Highlights
- Five residential units and first‑floor commercial space
- 5,530 square feet
- Fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,821
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,036,420
$1.0M
Cap Rate 7%
$740,300
$740.3K
Cap Rate 9%
$575,789
$575.8K
Market Conditions
NOI Build-Up for 5,530 SF
Gross rent
$95.6K $17.28/SF
− Vacancy
−$1.3K −$0.24/SF
EGI
$94.2K $17.04/SF
− OpEx
−$42.4K −$7.67/SF
NOI
$51.8K $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 Rate 5%
$1,036,420
Cap Rate 7%
$740,300
Cap Rate 9%
$575,789
Alternative Uses
Best Use
Mixed Use
$932.1K
$815.6K – $1.09M
NOI $65,248 @ 7.0% cap · market cap 11.08%
Second Best
Apartment 5plus
$740.3K
$647.8K – $863.7K
NOI $51,821 @ 7.0% cap · market cap 8.80%
Theoretical Best
Warehouse
$9.82M
$8.59M – $11.46M
NOI $687,519 @ 7.0% cap · market cap 116.73%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,273
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines five apartments with ground-floor commercial space and is fully leased.
Where is this mixed-use property located?
The property is located at 128 Pine Street Lewiston, ME.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Five residential units and first‑floor commercial space; 5,530 square feet; Fully leased
