Renovated
New
For Sale
$360,000
253 Lincoln Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,602 SF
Lot Size0.15 Acres
Price / SF$138.36
Days on Market2
Property Features for 253 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Riverfront District
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Basement, Bathroom 2
Parking features
Off Street
Pets allowed
No
Basement
Unfinished, Full
Lot features
Level, Sidewalks, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
2,602 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2127
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Oil
Water source
Public
Building Details
Year built
1891
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Flat, Membrane
Listing Agency:
Sell Your Home Services
(888) 219-3009
Listed By:
Daniel Demers · License #5004796
(888) 219-3009
Added: Aug 24
Changed: Aug 25
Last Checked: Aug 25 at 1:06PM
MLS# 1677429
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,602-square-foot triplex at 253 Lincoln Street contains three separate residential units, each arranged with a kitchen, living room, and full bathroom. The unit mix includes one three-bedroom residence, one two-bedroom residence, and one one-bedroom residence. Vinyl and wood flooring are installed throughout, with no carpeting noted. The property uses zoned oil heat and includes a basement.
Significant work was completed in 2024, including a full renovation of the two-bedroom unit with a new kitchen and replacement of the roof. Public water and sewer serve the property, while off-street parking is available. The building was constructed in 1891 and is located in Lewiston’s Riverfront District.
Significant work was completed in 2024, including a full renovation of the two-bedroom unit with a new kitchen and replacement of the roof. Public water and sewer serve the property, while off-street parking is available. The building was constructed in 1891 and is located in Lewiston’s Riverfront District.
Key Highlights
- 2,602‑square‑foot triplex with three separate residential units
- Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom
- Two‑bedroom unit fully renovated in 2024 with a new kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,664
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$513,280
$513.3K
Cap Rate 7%
$366,629
$366.6K
Cap Rate 9%
$285,156
$285.2K
Market Conditions
NOI Build-Up for 2,602 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.2K $14.28/SF
− Vacancy
−$494 −$0.19/SF
EGI
$36.7K $14.09/SF
− OpEx
−$11.0K −$4.23/SF
NOI
$25.7K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$513,280
Cap Rate 7%
$366,629
Cap Rate 9%
$285,156
Alternative Uses
Best Use
Multifamily LT 5
$366.6K
$320.8K – $427.7K
NOI $25,664 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$348.3K
$304.8K – $406.4K
NOI $24,383 @ 7.0% cap · market cap 6.77%
Theoretical Best
Warehouse
$4.62M
$4.04M – $5.39M
NOI $323,494 @ 7.0% cap · market cap 89.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,408
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct floor plans include kitchens, living areas, and full bathrooms.
Where is this triplex located?
The property is located at 253 Lincoln Street Lewiston, ME.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,602‑square‑foot triplex with three separate residential units; Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom; Two‑bedroom unit fully renovated in 2024 with a new kitchen
