Renovated Mixed-Use Fire
188 Lincoln St Lewiston, ME 04240
188 Lincoln St, Lewiston, ME, 04240
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For Sale
Contact for pricing
Mixed-use property with residential and commercial spaces, renovated in 2020.
Property Size5,554 SF
Price / SF$143.86
Days on Market65
Property Features for 188 Lincoln St
General Information
- Standard status
- Active
- Size
- 5,554 SF
- Property subtype
- RETAIL
Listing Agency
Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
(603) 767-7411
Listed by
Mandy Reynolds
(603) 767-7411
Source
Moodyscre
Added: May 13 Checked: Jul 15 at 10:34 pm
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 Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
Investment Insights
Based on property information with market context.
The property at 188 Lincoln Street is a former fire station, originally built in 1964, that was renovated in 2020 into a mixed-use property featuring both residential and commercial spaces. The building includes two generously sized, well-appointed Midcentury Modern residential units located above approximately 5,554 square feet of commercial space on the ground and lower levels. The commercial footprint can be divided into up to four separate units, offering a versatile layout with open, airy ceilings and rooms filled with natural light. The property features super-efficient heating and cooling systems, seller-owned PV solar panels, and ample parking adjacent to the building. It benefits from high traffic counts of 20,000 cars per day, prime street frontage, and prominent signage opportunities. This property presents a unique opportunity for investors, owner-occupants, or entrepreneurs seeking a distinctive property with strong income potential and long-term flexibility. Potential business uses include offices, creative studios, retail, or a restaurant.
Key Highlights
- Renovated mixed‑use property with +/- 5,554 sq ft of commercial space and residential units.
- Prime location with high traffic count (20,000 cars per day) offering street frontage and signage opportunities.
- Versatile commercial space divisible into up to 4 separate units.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.0k | $21.60 |
| − Vacancy | −$15.1k | −$2.72 |
| EGI | $104.9k | $18.88 |
| − OpEx | −$39.3k | −$7.08 |
| NOI | $65.5k | $11.80 |
5,554 SF · lease $21.60/SF/yr · vacancy 12.60% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$936.2K
$819.2K – $1.09M
NOI $65,532 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$743.5K
$650.6K – $867.4K
NOI $52,046 @ 7.0% cap · market cap 6.51%
Theoretical Best
Warehouse
$9.86M
$8.63M – $11.51M
NOI $690,502 @ 7.0% cap · market cap 86.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Metal Muse Aerial ...
Gym & Fitness Center
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with residential and commercial spaces, renovated in 2020.
Where is this mixed-use property located?
The property is located at 188 Lincoln St Lewiston, ME.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Renovated mixed‑use property with +/- 5,554 sq ft of commercial space and residential units.; Prime location with high traffic count (20,000 cars per day) offering street frontage and signage opportunities.; Versatile commercial space divisible into up to 4 separate units.
