Mixed-Use Property with Commercial
For Sale
$600,000
1294 Sabattus Street, Lewiston, ME 04240
COMMERCIAL - Lewiston, ME
Property Size1,960 SF
Lot Size1.51 Acres
Price / SF$306.12
Days on Market35
Property Features for 1294 Sabattus Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HB
Rooms
Basement
Parking features
On Street
Interior features
Storage
Basement
Sump Pump, Full, Unfinished
Lot features
Public Transport Access, Near Turnpike/ Interstate, Bus Line, Near Shopping, Suburban
Standard status
Active
Size
1,960 SF
Lot size
1.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6231
Utilities
Sewer type
Public Sewer
Heating system
Oil, Electric (Heating), Baseboard, Heat Pump (Heating), Hot Water(Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1961
Flooring type
Linoleum, Laminate, Tile
Building materials
Steel Frame, Wood Frame, Vinyl Siding, Wood Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate · Prudential Real Estate
(207) 784-0159
Listed By:
Jeanne Martin
(207) 784-0159
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 12 at 1:06PM
MLS# 1657586
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.
Investment Insights
Based on property information with market context.
This mixed-use property combines a residential home with commercial garage space. The home features three bedrooms and 1.5 bathrooms with an open-concept kitchen and dining area, along with a full basement. Outdoors, there is a landscaped backyard with an above-ground pool, a hot tub, and a large fenced entertainment area for privacy. The property also includes a carport and one commercial garage with two large bays.
Located at 1294 Sabattus Street in Lewiston, Maine, the site is described as being in a Highway Business zone (HB).
Set on a 1.51-acre parcel, the layout supports both residential living and on-site storage or service use tied to the two-bay commercial garage.
Located at 1294 Sabattus Street in Lewiston, Maine, the site is described as being in a Highway Business zone (HB).
Set on a 1.51-acre parcel, the layout supports both residential living and on-site storage or service use tied to the two-bay commercial garage.
Key Highlights
- Mixed‑use property with a 3‑bedroom home plus commercial garages in a Highway Business zone
- 1.51‑acre parcel with landscaped backyard, fenced entertainment area, above‑ground pool, and hot tub
- Home features open‑concept kitchen and dining area, plus 1.5 bathrooms and full basement
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
$18,367
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
3.06%
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%
$367,340
$367.3K
Cap Rate 7%
$262,386
$262.4K
Cap Rate 9%
$204,078
$204.1K
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
$33.9K $17.28/SF
− Vacancy
−$474 −$0.24/SF
EGI
$33.4K $17.04/SF
− OpEx
−$15.0K −$7.67/SF
NOI
$18.4K $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%
$367,340
Cap Rate 7%
$262,386
Cap Rate 9%
$204,078
Alternative Uses
Best Use
Warehouse
$3.48M
$3.05M – $4.06M
NOI $243,677 @ 7.0% cap · market cap 40.61%
Second Best
Apartment 5plus
$262.4K
$229.6K – $306.1K
NOI $18,367 @ 7.0% cap · market cap 3.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
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?
Single family property - 3-bedroom home with open kitchen/dining, plus a commercial garage with two large bays on 1.51 acres.
Where is this single family property located?
The property is located at 1294 Sabattus Street 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: Mixed‑use property with a 3‑bedroom home plus commercial garages in a Highway Business zone; 1.51‑acre parcel with landscaped backyard, fenced entertainment area, above‑ground pool, and hot tub; Home features open‑concept kitchen and dining area, plus 1.5 bathrooms and full basement
