Medical Office Space, Former Surgery
For Sale
$995,000
249 Main Street, Lewiston, ME 04240
Former ambulatory surgery center in Lewiston’s 1881 building.
Property Size9,923 SF
Price / SF$100.27
Days on Market136
Property Features for 249 Main Street
General Information
Standard status
Active
Size
9,923 SF
Class
B
Property subtype
Office/Medical
Building Details
Building Size
9,923 SF
Year Built
1881
Listed By:
Chris Paszyc, CCIM, SIOR
(207) 939-4147
Source:
Boulos
Added: Jun 2
Changed: Oct 7
Last Checked: Oct 14 at 9:13PM
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 Chris Paszyc, CCIM, SIOR
Investment Insights
Based on property information with market context.
Located at 249 Main Street in Lewiston, Maine, this medical office property contains approximately 9,923± SF and was built in 1881. The building previously operated as an ambulatory surgery center, providing a specialized medical-office setting for continued evaluation. Its established address and medical use history offer a clear foundation for reviewing the property’s layout, improvements, and future occupancy plans.
Key Highlights
- 9,923± SF medical office building
- Former ambulatory surgery center
- Built in 1881
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,929
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,580
$1.6M
Cap Rate 7%
$1,113,271
$1.1M
Cap Rate 9%
$865,878
$865.9K
Market Conditions
NOI Build-Up for 9,923 SF
Gross rent
$148.8K $15.00/SF
− Vacancy
−$19.0K −$1.91/SF
EGI
$129.9K $13.09/SF
− OpEx
−$52.0K −$5.24/SF
NOI
$77.9K $7.85/SF
Area
Androscoggin County, ME
Vacancy
12.74%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,580
Cap Rate 7%
$1,113,271
Cap Rate 9%
$865,878
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $160,792 @ 7.0% cap · market cap 16.16%
Second Best
Healthcare Medical
$1.11M
$974.1K – $1.30M
NOI $77,929 @ 7.0% cap · market cap 7.83%
Theoretical Best
Warehouse
$17.62M
$15.42M – $20.56M
NOI $1,233,679 @ 7.0% cap · market cap 123.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,333
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former ambulatory surgery center in Lewiston’s 1881 building.
Where is this medical office space located?
The property is located at 249 Main Street Lewiston, ME.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 9,923± SF medical office building; Former ambulatory surgery center; Built in 1881
