Multifamily Property with Detached
21 Bridge Street, Lewiston, ME 04240
For Sale
$289,900
Two sun porches add flexible interior space to this Lewiston property.
Property Size1,961 SF
Price / SF$147.83
Days on Market204
Property Features for 21 Bridge Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Integrity Homes Real Estate Group, PC
Listed By:
Scott "Scooter" Travers
(207) 712-3025
Source:
Integrityhomesrealestategroup
Added: Apr 22
Changed: Nov 11
Last Checked: Nov 11 at 2:24AM
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 Integrity Homes Real Estate Group, PC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,961-square-foot multifamily property in Lewiston was built in 1861. The layout includes two sun porches, and a detached two-car garage provides additional parking and storage. The property is zoned Urban Enterprise.
Central Maine Medical Center, local retail, and restaurants are a short drive away.
Central Maine Medical Center, local retail, and restaurants are a short drive away.
Key Highlights
- 1,961 square feet of multifamily space
- Built in 1861
- Two sun porches
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,376
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,520
$367.5K
Cap Rate 7%
$262,514
$262.5K
Cap Rate 9%
$204,178
$204.2K
Market Conditions
NOI Build-Up for 1,961 SF
Gross rent
$33.9K $17.28/SF
− Vacancy
−$474 −$0.24/SF
EGI
$33.4K $17.04/SF
− OpEx
−$15.0K −$7.67/SF
NOI
$18.4K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,520
Cap Rate 7%
$262,514
Cap Rate 9%
$204,178
Alternative Uses
Best Use
Apartment 5plus
$262.5K
$229.7K – $306.3K
NOI $18,376 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$609.9K
$533.7K – $711.6K
NOI $42,693 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
2,213
Businesses Nearby
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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
$214,200
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Lewiston, ME
Properties on Market for Multifamily properties in Lewiston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two sun porches add flexible interior space to this Lewiston property.
Where is this multifamily property located?
The property is located at 21 Bridge Street Lewiston, ME.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,961 square feet of multifamily space; Built in 1861; Two sun porches
