Renovated Three-Unit Apartment
New
For Sale
$399,500
143 Oak Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,568 SF
Lot Size0.13 Acres
Price / SF$155.57
Days on Market2
Property Features for 143 Oak Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NC-B
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2, Basement
Patio and Porch features
Porch
Pets allowed
No
Interior features
Shower
Basement
Unfinished
Lot features
Level, Sidewalks, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
2,568 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3852
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Hot Water(Heating), Oil, Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1891
Floors in Building
3
Number of units
3
Flooring type
Vinyl, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Tim Dunham Realty
(207) 729-7297
Listed By:
Cheryl Pelletier
(207) 865-8447
Added: Sep 2
Last Checked: Sep 3 at 3:06AM
MLS# 1678769
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 triplex at 143 Oak Street contains 2,568 square feet across three residential units. The first- and third-floor apartments each have two bedrooms, while the second-floor unit has three bedrooms. Unit interiors have been updated with modern finishes, vinyl and wood flooring, showers, and zoned baseboard hot-water heating. Window units provide cooling, and the building includes a basement and porch.
Constructed in 1891, the wood-frame property has vinyl siding, a shingle roof, public water, and public sewer. Its Lewiston setting places the building within walking distance of Central Maine Medical Center and Bates College. A nearby walking path leads toward falls along the Androscoggin River, while downtown Lewiston provides shops, restaurants, and other amenities.
Constructed in 1891, the wood-frame property has vinyl siding, a shingle roof, public water, and public sewer. Its Lewiston setting places the building within walking distance of Central Maine Medical Center and Bates College. A nearby walking path leads toward falls along the Androscoggin River, while downtown Lewiston provides shops, restaurants, and other amenities.
Key Highlights
- Three‑unit layout totaling 2,568 square feet
- Unit mix includes two 2‑bedroom apartments and one 3‑bedroom apartment
- 0.13‑acre lot at 143 Oak Street, Lewiston, ME 04240
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
$25,328
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
6.34%
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%
$506,560
$506.6K
Cap Rate 7%
$361,829
$361.8K
Cap Rate 9%
$281,422
$281.4K
Market Conditions
NOI Build-Up for 2,568 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
$36.7K $14.28/SF
− Vacancy
−$488 −$0.19/SF
EGI
$36.2K $14.09/SF
− OpEx
−$10.9K −$4.23/SF
NOI
$25.3K $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 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%
$506,560
Cap Rate 7%
$361,829
Cap Rate 9%
$281,422
Alternative Uses
Best Use
Multifamily LT 5
$361.8K
$316.6K – $422.1K
NOI $25,328 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$343.8K
$300.8K – $401.1K
NOI $24,065 @ 7.0% cap · market cap 6.02%
Theoretical Best
Warehouse
$4.56M
$3.99M – $5.32M
NOI $319,267 @ 7.0% cap · market cap 79.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,973
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 - NC-B-zoned multifamily property with updated interiors, public utilities, and a porch.
Where is this triplex located?
The property is located at 143 Oak Street Lewiston, ME.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Three‑unit layout totaling 2,568 square feet; Unit mix includes two 2‑bedroom apartments and one 3‑bedroom apartment; 0.13‑acre lot at 143 Oak Street, Lewiston, ME 04240
