Triplex with Three-Car
For Sale
$450,000
326 South Ave, Lewiston, ME 04240
Three-unit property with varied layouts, private outdoor spaces, garage access, and substantial auxiliary improvements.
Property Size3,118 SF
Price / SF$144.32
Days on Market135
Property Features for 326 South Ave
General Information
Standard status
Active
Size
3,118 SF
Property subtype
Multi-Family
Building Details
Year Built
1815
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
Listed By:
Renee Roy
(207) 782-8311
Source:
603luxury
Added: Jun 3
Changed: Sep 13
Last Checked: Oct 7 at 2:30PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This 3,118-square-foot triplex, built in 1815, includes a larger first-floor residence and two one-bedroom apartments. The primary unit offers two to three bedrooms, one and a half baths, hardwood flooring, a heated sun porch, laundry space, a walk-in pantry, basement entry, a kitchen slider to a private deck, and a covered front porch. Each apartment has a private porch, stackable laundry equipment, and a dedicated garage bay.
The property occupies just over half an acre at 326 South Avenue in Lewiston, Maine. Outdoor improvements include a paved driveway with five marked parking spaces, a separate paved RV parking area, and garden beds. A three-car garage provides approximately 840 square feet of space above, while a separate 1,063-square-foot outbuilding includes another garage bay and was formerly used as a shop. A new hot water boiler was installed in 2025.
The property occupies just over half an acre at 326 South Avenue in Lewiston, Maine. Outdoor improvements include a paved driveway with five marked parking spaces, a separate paved RV parking area, and garden beds. A three-car garage provides approximately 840 square feet of space above, while a separate 1,063-square-foot outbuilding includes another garage bay and was formerly used as a shop. A new hot water boiler was installed in 2025.
Key Highlights
- Three‑unit property with a larger first‑floor residence and two one‑bedroom apartments
- Approximately 840 sq. ft. above the massive three‑car garage
- Separate 1,063 sq. ft. outbuilding with an additional garage bay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,753
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,060
$615.1K
Cap Rate 7%
$439,329
$439.3K
Cap Rate 9%
$341,700
$341.7K
Market Conditions
NOI Build-Up for 3,118 SF
Gross rent
$44.5K $14.28/SF
− Vacancy
−$592 −$0.19/SF
EGI
$43.9K $14.09/SF
− OpEx
−$13.2K −$4.23/SF
NOI
$30.8K $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 Rate 5%
$615,060
Cap Rate 7%
$439,329
Cap Rate 9%
$341,700
Alternative Uses
Best Use
Multifamily LT 5
$439.3K
$384.4K – $512.6K
NOI $30,753 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,219 @ 7.0% cap · market cap 6.49%
Theoretical Best
Warehouse
$5.54M
$4.85M – $6.46M
NOI $387,646 @ 7.0% cap · market cap 86.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
390
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied layouts, private outdoor spaces, garage access, and substantial auxiliary improvements.
Where is this triplex located?
The property is located at 326 South Ave Lewiston, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit property with a larger first‑floor residence and two one‑bedroom apartments; Approximately 840 sq. ft. above the massive three‑car garage; Separate 1,063 sq. ft. outbuilding with an additional garage bay
