Mixed-Use Property with Business
238 Sabattus Street, Lewiston, ME 04240
For Sale
$525,000
The furnished building combines two residences, a commercial area, and a storage shed.
Property Size2,900 SF
Price / SF$181.03
Days on Market155
Property Features for 238 Sabattus Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Furnished
Mixed-Use Components
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
storage shed
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Fontaine Family-The Real Estate Leader
Listed By:
Megan Fortin
(207) 784-3800
Source:
Kiefferrealestate
Added: Jun 12
Changed: Nov 12
Last Checked: Nov 13 at 5:29AM
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
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Investment Insights
Based on property information with market context.
This 2,900-square-foot mixed-use property contains two residential units and one commercial space. The building was constructed in 1930 and has remodeled interiors; furnishings are included. One apartment features Alice in Wonderland-themed décor, and a storage shed provides additional onsite storage. Interior connections between the commercial and residential areas allow access from one space to another.
The property is in Lewiston near Bates College and two healthcare facilities. It is zoned DR.
The property is in Lewiston near Bates College and two healthcare facilities. It is zoned DR.
Key Highlights
- 2,900‑square‑foot property with two residential units and one commercial space
- Furnished interiors; remodeled residential spaces
- Alice in Wonderland‑themed apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,217
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$684,340
$684.3K
Cap Rate 7%
$488,814
$488.8K
Cap Rate 9%
$380,189
$380.2K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$62.6K $21.60/SF
− Vacancy
−$7.9K −$2.72/SF
EGI
$54.7K $18.88/SF
− OpEx
−$20.5K −$7.08/SF
NOI
$34.2K $11.80/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$684,340
Cap Rate 7%
$488,814
Cap Rate 9%
$380,189
Alternative Uses
Best Use
Mixed Use
$488.8K
$427.7K – $570.3K
NOI $34,217 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$388.2K
$339.7K – $452.9K
NOI $27,176 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$901.9K
$789.2K – $1.05M
NOI $63,136 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The furnished building combines two residences, a commercial area, and a storage shed.
Where is this mixed-use property located?
The property is located at 238 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,900‑square‑foot property with two residential units and one commercial space; Furnished interiors; remodeled residential spaces; Alice in Wonderland‑themed apartment
