Triplex with Detached
For Sale
$399,900
171-175 Walnut Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size3,124 SF
Lot Size0.22 Acres
Price / SF$128.01
Days on Market97
Property Features for 171-175 Walnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NCA
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Basement
Parking features
Off Street, Open
Patio and Porch features
Deck, Porch
Interior features
1st Floor Bedroom, Bathtub, Shower, Storage
Basement
Full, Unfinished
Lot features
Well Landscaped, Rolling/ Sloping, Open, Sidewalks, Intown, Near Golf Course, Near Shopping, Neighborhood, Subdivided, Near Public Transit
Standard status
Active
Size
3,124 SF
Lot size
0.22 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
5050
Utilities
Sewer type
Public Sewer
Heating system
Oil, Steam, Other (Heating), Baseboard, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Water front features
Stream
Amenities
balcony decks
rear porches
Building Details
Year built
1926
Number of units
3
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle, Membrane
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Deborah Meek
(207) 553-2662
Added: Jul 20
Changed: Oct 23
Last Checked: Oct 24 at 12:06AM
MLS# 1672103
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.
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Investment Insights
Based on property information with market context.
The 3,124-square-foot triplex, built in 1926, contains three apartments: one three-bedroom unit and two one-bedroom units. Two apartments are rented, while the lower-level rear unit is vacant. The property also includes a detached two-car garage, off-street parking for up to 6 vehicles, decks, and rear porches. The reported roof is brand new.
The offering comprises two parcels at 171–175 Walnut Street in Lewiston, Maine, with a combined lot area of 0.22 acres. The adjoining vacant parcel is used as a garden. Public water and public sewer serve the property; zoning is NCA.
The offering comprises two parcels at 171–175 Walnut Street in Lewiston, Maine, with a combined lot area of 0.22 acres. The adjoining vacant parcel is used as a garden. Public water and public sewer serve the property; zoning is NCA.
Key Highlights
- Three apartments: one three‑bedroom unit and two one‑bedroom units
- Two apartments are rented; the lower‑level rear one‑bedroom apartment is vacant
- Two parcels totaling 0.22 acres, including an adjoining vacant parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,812
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,240
$616.2K
Cap Rate 7%
$440,171
$440.2K
Cap Rate 9%
$342,356
$342.4K
Market Conditions
NOI Build-Up for 3,124 SF
Gross rent
$44.6K $14.28/SF
− Vacancy
−$593 −$0.19/SF
EGI
$44.0K $14.09/SF
− OpEx
−$13.2K −$4.23/SF
NOI
$30.8K $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%
$616,240
Cap Rate 7%
$440,171
Cap Rate 9%
$342,356
Alternative Uses
Best Use
Multifamily LT 5
$440.2K
$385.2K – $513.5K
NOI $30,812 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$418.2K
$365.9K – $487.9K
NOI $29,275 @ 7.0% cap · market cap 7.32%
Theoretical Best
Warehouse
$5.55M
$4.85M – $6.47M
NOI $388,392 @ 7.0% cap · market cap 97.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,495
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - An adjoining vacant parcel accompanies the three-apartment property, with public water and sewer service.
Where is this triplex located?
The property is located at 171-175 Walnut Street Lewiston, ME.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three apartments: one three‑bedroom unit and two one‑bedroom units; Two apartments are rented; the lower‑level rear one‑bedroom apartment is vacant; Two parcels totaling 0.22 acres, including an adjoining vacant parcel
