Remodeled Neighborhood Convenience
For Sale
$170,200
125 Scribner Boulevard, Lewiston, ME 04240
Convenience store with food service, grocery offerings, delivery access, and updated building systems.
Property Size1,272 SF
Days on Market1091
Property Features for 125 Scribner Boulevard
General Information
Standard status
Active
Size
1,272 SF
Property subtype
Commercial
Zoning
NCA
Taxes and HOA fees
Annual Taxes
$2,538
Building Details
Building Size
1,272 SF
Year Built
1948
Year Renovated
2019
Listing Agency:
Legacy Realty
(207) 423-4486
Listed By:
Doreen Gagne
(207) 423-4486
Source:
Startpoint
Added: Aug 29, 2023
Changed: Aug 16
Last Checked: Aug 22 at 1:53PM
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 Legacy Realty
Investment Insights
Based on property information with market context.
This neighborhood convenience store combines hot and cold food service with a selection of small grocery items. The interior was fully remodeled in 2019, and the property includes a new roof, a metal rear door, and a propane monitor heating system.
A rear ramp supports deliveries, providing practical access for ongoing store operations. The property is zoned NCA and was originally built in 1948, with the newer interior improvements adding updated functionality to the existing building.
A rear ramp supports deliveries, providing practical access for ongoing store operations. The property is zoned NCA and was originally built in 1948, with the newer interior improvements adding updated functionality to the existing building.
Key Highlights
- Fully remodeled interior completed in 2019
- Hot and cold food service with small grocery selection
- New roof and propane monitor heating system
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
$13,303
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
7.82%
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%
$266,060
$266.1K
Cap Rate 7%
$190,043
$190.0K
Cap Rate 9%
$147,811
$147.8K
Market Conditions
NOI Build-Up for 1,272 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
$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 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%
$266,060
Cap Rate 7%
$190,043
Cap Rate 9%
$147,811
Alternative Uses
Best Use
Retail
$190.0K
$166.3K – $221.7K
NOI $13,303 @ 7.0% cap · market cap 7.82%
Second Best
Specialty Retail
$146.6K
$128.3K – $171.0K
NOI $10,262 @ 7.0% cap · market cap 6.03%
Theoretical Best
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,142 @ 7.0% cap · market cap 92.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Shaw's — 27 East Ave, Lewiston, ME 04240
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Convenience store with food service, grocery offerings, delivery access, and updated building systems.
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: Fully remodeled interior completed in 2019; Hot and cold food service with small grocery selection; New roof and propane monitor heating system
