Mixed-Use Property with Two-Bay
For Sale
$600,000
1294 Sabattus St, Lewiston, ME 04240
Combined residential and commercial improvements occupy a landscaped parcel in a Highway Business zone.
Property Size1,960 SF
Lot Size1.51 Acres
Price / SF$306.12
Days on Market34
Property Features for 1294 Sabattus St
General Information
Standard status
Active
Size
1,960 SF
Lot size
1.51 Acres
Zoning
Highway Business
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1961
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate
(207) 784-0159
Listed By:
Jeanne Martin
Source:
603luxury
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 2:52PM
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 Berkshire Hathaway HomeServices Northeast Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property combines a residence with commercial garage space on a 1.51-acre parcel. The 1,960-square-foot home, built in 1961, includes 3 bedrooms, 1.5 baths, an open kitchen and dining area, and a full basement. A commercial garage provides 2 large bays, and the property also includes a carport.
Outdoor improvements include a fenced backyard with an above-ground pool, hot tub, and large entertainment area. The property is located at 1294 Sabattus St in Lewiston, Maine, within a Highway Business zone, bringing residential and commercial components together at one address.
Outdoor improvements include a fenced backyard with an above-ground pool, hot tub, and large entertainment area. The property is located at 1294 Sabattus St in Lewiston, Maine, within a Highway Business zone, bringing residential and commercial components together at one address.
Key Highlights
- 1.51‑acre mixed‑use parcel at 1294 Sabattus St, Lewiston, ME 04240
- 1,960‑square‑foot residence built in 1961
- 3 bedrooms and 1.5 baths with open kitchen and dining area
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
$23,126
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
3.85%
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%
$462,520
$462.5K
Cap Rate 7%
$330,371
$330.4K
Cap Rate 9%
$256,956
$257.0K
Market Conditions
NOI Build-Up for 1,960 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
$42.3K $21.60/SF
− Vacancy
−$5.3K −$2.72/SF
EGI
$37.0K $18.88/SF
− OpEx
−$13.9K −$7.08/SF
NOI
$23.1K $11.80/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$462,520
Cap Rate 7%
$330,371
Cap Rate 9%
$256,956
Alternative Uses
Best Use
Industrial
$2.87M
$2.51M – $3.34M
NOI $200,676 @ 7.0% cap · market cap 33.45%
Second Best
Mixed Use
$330.4K
$289.1K – $385.4K
NOI $23,126 @ 7.0% cap · market cap 3.85%
Theoretical Best
Warehouse
$3.48M
$3.05M – $4.06M
NOI $243,677 @ 7.0% cap · market cap 40.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
46
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined residential and commercial improvements occupy a landscaped parcel in a Highway Business zone.
Where is this mixed-use property located?
The property is located at 1294 Sabattus St Lewiston, ME.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1.51‑acre mixed‑use parcel at 1294 Sabattus St, Lewiston, ME 04240; 1,960‑square‑foot residence built in 1961; 3 bedrooms and 1.5 baths with open kitchen and dining area
