3-Unit Multifamily Building with
For Sale
$389,900
209213 209-213 Sabattus St, Lewiston, ME 04240
Tenant-occupied property with paved off-street parking, a detached garage, and an unused third-floor area connected to the second-floor unit.
Property Size3,160 SF
Price / SF$123.39
Days on Market51
Property Features for 209213 209-213 Sabattus St
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
detached garage
Building Details
Year Built
1891
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
Listed By:
Mark Pilot
(207) 782-8311
Source:
Soldbymichaelthomas
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 5 at 8:53PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This 3,160-square-foot multifamily property contains three tenant-occupied units within a building constructed in 1891. The apartments feature spacious rooms, while the property also includes an unused third floor with multiple rooms and direct access from the second-floor unit. The additional level provides flexibility within the existing layout for a larger connected residential configuration.
Exterior features include multiple paved driveways, ample off-street parking, and a detached garage. The property is located at 209-213 Sabattus Street in Lewiston, Maine, providing a central setting near area amenities.
Exterior features include multiple paved driveways, ample off-street parking, and a detached garage. The property is located at 209-213 Sabattus Street in Lewiston, Maine, providing a central setting near area amenities.
Key Highlights
- Three‑unit multifamily property totaling 3,160 square feet
- Built in 1891 with three tenant‑occupied units
- Unused third floor has multiple rooms and direct access from the second‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,167
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,340
$623.3K
Cap Rate 7%
$445,243
$445.2K
Cap Rate 9%
$346,300
$346.3K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$45.1K $14.28/SF
− Vacancy
−$600 −$0.19/SF
EGI
$44.5K $14.09/SF
− OpEx
−$13.4K −$4.23/SF
NOI
$31.2K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,340
Cap Rate 7%
$445,243
Cap Rate 9%
$346,300
Alternative Uses
Best Use
Multifamily LT 5
$445.2K
$389.6K – $519.5K
NOI $31,167 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$423.0K
$370.2K – $493.5K
NOI $29,612 @ 7.0% cap · market cap 7.59%
Theoretical Best
Warehouse
$5.61M
$4.91M – $6.55M
NOI $392,868 @ 7.0% cap · market cap 100.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
47
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied property with paved off-street parking, a detached garage, and an unused third-floor area connected to the second-floor unit.
Where is this triplex located?
The property is located at 209213 209-213 Sabattus St Lewiston, ME.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 3,160 square feet; Built in 1891 with three tenant‑occupied units; Unused third floor has multiple rooms and direct access from the second‑floor unit
