6-Unit Apartment
For Sale
$649,999
256 Park Street, Lewiston, ME 04240
Commercial Sale, Lewiston, ME
Property Size6,200 SF
Lot Size0.11 Acres
Price / SF$104.84
Days on Market47
Property Features for 256 Park Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RES
Rooms
Basement
Basement
Full, Unfinished, Walk-Out Access, Sump Pump
Standard status
Active
Size
6,200 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4448
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Oil
Water source
Public
Building Details
Year built
1891
Flooring type
Vinyl, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Flat
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Franklin Katunda
(207) 518-8371
Added: Sep 7
Changed: Oct 23
Last Checked: Oct 23 at 10:06PM
MLS# 1679582
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.
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Investment Insights
Based on property information with market context.
This 6-unit apartment building offers 6,200 square feet across a wood-frame structure with vinyl siding, laminate and vinyl flooring, and a flat roof. Built in 1891, the property includes a basement, public water, and public sewer. Heating is provided through an oil-fired hot-water baseboard system. Five units are currently rented to long-term tenants, while the remaining unit provides flexibility for an owner-occupant or future leasing plans.
The property occupies 0.11 acres at 256 Park Street in Lewiston, within walking distance of downtown conveniences. Area hospitals, Bates College, and local amenities are located nearby. Showing requests require 24–48 hours’ notice.
The property occupies 0.11 acres at 256 Park Street in Lewiston, within walking distance of downtown conveniences. Area hospitals, Bates College, and local amenities are located nearby. Showing requests require 24–48 hours’ notice.
Key Highlights
- 6‑unit apartment building with 6,200 square feet
- Five of six units rented to long‑term tenants
- 0.11‑acre property at 256 Park Street, Lewiston, ME 04240
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,100
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,162,000
$1.2M
Cap Rate 7%
$830,000
$830.0K
Cap Rate 9%
$645,556
$645.6K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$107.1K $17.28/SF
− Vacancy
−$1.5K −$0.24/SF
EGI
$105.6K $17.04/SF
− OpEx
−$47.5K −$7.67/SF
NOI
$58.1K $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%
$1,162,000
Cap Rate 7%
$830,000
Cap Rate 9%
$645,556
Alternative Uses
Best Use
Apartment 5plus
$830.0K
$726.3K – $968.3K
NOI $58,100 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$11.01M
$9.64M – $12.85M
NOI $770,817 @ 7.0% cap · market cap 118.59%
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
1,224
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 - Well-maintained multifamily property with established tenant occupancy near downtown amenities and area institutions.
Where is this apartment building located?
The property is located at 256 Park Street Lewiston, ME.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 6‑unit apartment building with 6,200 square feet; Five of six units rented to long‑term tenants; 0.11‑acre property at 256 Park Street, Lewiston, ME 04240
