Mixed-Use Property with Commercial
New
For Sale
$589,000
128 Pine Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size5,530 SF
Lot Size0.08 Acres
Price / SF$106.51
Days on Market1
Property Features for 128 Pine Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CB
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 2, Basement, Bathroom 4, Bathroom 1, Bathroom 3
Parking features
Off Street
Basement
Full, Unfinished, Walk-Out Access
Lot features
Open, Sidewalks, Near Shopping, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
5,530 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4530
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Number of units
5
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Asbestos
Roof type
Flat
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Edward Baldacci
(207) 939-2969
Added: Oct 19
Last Checked: Oct 19 at 1:06PM
MLS# 1684814
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.
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Investment Insights
Based on property information with market context.
At 128 Pine Street, this 5,530-square-foot mixed-use property combines five residential units with a commercial space on the first floor. The building was constructed in 1900 and is fully leased. It occupies a 0.08-acre lot and has CB zoning.
The property is in downtown Lewiston, with hospitals, colleges, public transportation, shopping, dining, and commuter routes identified among the surrounding amenities. Public water and sewer serve the site, and off-street parking is provided.
The property is in downtown Lewiston, with hospitals, colleges, public transportation, shopping, dining, and commuter routes identified among the surrounding amenities. Public water and sewer serve the site, and off-street parking is provided.
Key Highlights
- Five residential units and a first‑floor commercial space
- 5,530 square feet on a 0.08‑acre lot
- 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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Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
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 - Five residential apartments are paired with a commercial space on the ground floor.
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 a first‑floor commercial space; 5,530 square feet on a 0.08‑acre lot; Fully leased
