Triplex with Detached
For Sale
$389,900
209-213 Sabattus St, Lewiston, ME 04240
Tenant-occupied three-unit property with paved off-street parking and additional third-floor rooms.
Property Size3,160 SF
Price / SF$123.39
Days on Market17
Property Features for 209-213 Sabattus St
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1891
Buildings
1
Listing Agency:
(207) 841-7569
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 7:08PM
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 Kathy Gallant
Investment Insights
Based on property information with market context.
This 3,160-square-foot triplex in Lewiston contains three residential units and is currently tenant occupied. The building dates to 1891 and includes spacious rooms throughout the apartments. Multiple paved driveways provide off-street parking, while a detached garage adds separate accessory space.
The third floor is not currently in use and contains multiple rooms with direct access from the second-floor unit. The property is located at 209-213 Sabattus Street, providing a three-unit configuration with additional interior space within the existing structure.
The third floor is not currently in use and contains multiple rooms with direct access from the second-floor unit. The property is located at 209-213 Sabattus Street, providing a three-unit configuration with additional interior space within the existing structure.
Key Highlights
- 3,160‑square‑foot triplex with three residential units
- Currently tenant occupied
- Detached garage included
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
$31,167
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
7.99%
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%
$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
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
$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 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%
$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
Property Profile
Current Use
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
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 three-unit property with paved off-street parking and additional third-floor rooms.
Where is this triplex located?
The property is located at 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: 3,160‑square‑foot triplex with three residential units; Currently tenant occupied; Detached garage included
