6-Unit Apartment
For Sale
$650,000
212 Park Street, Lewiston, ME 04240
The six residences include in-unit laundry, newer windows, and vinyl siding, with a mix of two- and three-bedroom layouts.
Property Size5,692 SF
Price / SF$114.20
Days on Market9
Property Features for 212 Park Street
General Information
Standard status
Active
Size
5,692 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR, 3 x 2BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Amenities
in unit laundry
High Rise
Other
Building Details
Year Built
1880
Listing Agency:
Fontaine Family-The Real Estate Leader
Listed By:
Charmaine Raby
(207) 577-1034
Source:
Brendafontaine
Added: Oct 2
Changed: Oct 10
Last Checked: Oct 10 at 12:57AM
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 Fontaine Family-The Real Estate Leader
Investment Insights
Based on property information with market context.
This 5,692-square-foot apartment property contains six units: three with two bedrooms and three with three bedrooms. Each unit has in-unit laundry. The building dates to 1880 and has newer windows and vinyl siding.
The property is in-town in Lewiston, within walking distance of shopping, restaurants, services, schools, and everyday conveniences. Public transportation is accessible, and major employers, medical facilities, and downtown are nearby.
The property is in-town in Lewiston, within walking distance of shopping, restaurants, services, schools, and everyday conveniences. Public transportation is accessible, and major employers, medical facilities, and downtown are nearby.
Key Highlights
- Six units: three 2‑bedroom and three 3‑bedroom layouts
- 5,692 square feet; built in 1880
- In‑unit laundry in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,339
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,066,780
$1.1M
Cap Rate 7%
$761,986
$762.0K
Cap Rate 9%
$592,656
$592.7K
Market Conditions
NOI Build-Up for 5,692 SF
Gross rent
$98.4K $17.28/SF
− Vacancy
−$1.4K −$0.24/SF
EGI
$97.0K $17.04/SF
− OpEx
−$43.6K −$7.67/SF
NOI
$53.3K $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%
$1,066,780
Cap Rate 7%
$761,986
Cap Rate 9%
$592,656
Alternative Uses
Best Use
Apartment 5plus
$762.0K
$666.7K – $889.0K
NOI $53,339 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.11M
$8.85M – $11.79M
NOI $707,659 @ 7.0% cap · market cap 108.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,508
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
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Frequently Asked Questions
What type of property is this?
Apartment building - The six residences include in-unit laundry, newer windows, and vinyl siding, with a mix of two- and three-bedroom layouts.
Where is this apartment building located?
The property is located at 212 Park Street Lewiston, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six units: three 2‑bedroom and three 3‑bedroom layouts; 5,692 square feet; built in 1880; In‑unit laundry in every unit
