Six-Unit Apartment
212 Park St, Lewiston, ME 04240
For Sale
$650,000
Three two-bedroom and three three-bedroom apartments each include in-unit laundry.
Property Size5,692 SF
Price / SF$114.20
Days on Market40
Property Features for 212 Park St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
in-unit laundry
Building Details
Year Built
Listed By:
Signature Homes Real Estate Group
(207) 885-0500
Source:
Signaturehomesmaine
Added: Oct 5
Changed: Nov 11
Last Checked: Nov 12 at 7:19AM
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 Signature Homes Real Estate Group
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Investment Insights
Based on property information with market context.
This 5,692-square-foot apartment building contains six units: three with two bedrooms and three with three bedrooms. In-unit laundry is provided in every apartment. The property also has newer windows and vinyl siding. Built in 1880, it offers a mix of apartment layouts within an established multifamily property.
At 212 Park St in Lewiston, the building is described as being within walking distance of shopping, restaurants, services, schools, and daily conveniences. Public transportation is accessible, and the property is near major employers, medical facilities, and downtown. The source also identifies 198 Park, 34 Shawmut, and 46 Shawmut as separately available properties.
At 212 Park St in Lewiston, the building is described as being within walking distance of shopping, restaurants, services, schools, and daily conveniences. Public transportation is accessible, and the property is near major employers, medical facilities, and downtown. The source also identifies 198 Park, 34 Shawmut, and 46 Shawmut as separately available properties.
Key Highlights
- Six apartments: three 2‑bedroom units and three 3‑bedroom units
- In‑unit laundry in every apartment
- 5,692 square feet; built in 1880
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
Office A
$1.77M
$1.55M – $2.07M
NOI $123,921 @ 7.0% cap · market cap 19.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,508
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three two-bedroom and three three-bedroom apartments each include in-unit laundry.
Where is this apartment building located?
The property is located at 212 Park St 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 apartments: three 2‑bedroom units and three 3‑bedroom units; In‑unit laundry in every apartment; 5,692 square feet; built in 1880
