Mixed-Use Retail
376 Sabattus Street, Lewiston, ME 04240
For Sale
$485,000
Open-plan space combines office and retail functions with two bathrooms and ADA accessibility.
Property Size1,968 SF
Price / SF$246.44
Days on Market786
Property Features for 376 Sabattus Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Corner Location
Traffic Count
Road Access
Taxes and HOA fees
Annual Taxes
Amenities
open concept
two bathrooms
fully ADA accessible
paved parking lot
three curb entrances
Building Details
Building Size
Year Built
Stories
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
David Costello · License ME #923558
(207) 754-7494
Source:
Integrityhomesrealestategroup
Added: Sep 17, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:03AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This mixed-use property at 376 Sabattus Street in Lewiston offers office and retail space in an open-plan layout. The building dates to 1966 and includes two bathrooms, with accessibility features described as fully ADA accessible.
A paved parking area provides more than 40 spaces and connects to the property through three curb entrances. The corner location has an MDOT average daily traffic count of 9,930.
A paved parking area provides more than 40 spaces and connects to the property through three curb entrances. The corner location has an MDOT average daily traffic count of 9,930.
Key Highlights
- Office and retail space in an open‑plan layout
- Two bathrooms and ADA accessibility
- Paved parking for 40‑plus vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,220
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,400
$464.4K
Cap Rate 7%
$331,714
$331.7K
Cap Rate 9%
$258,000
$258.0K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$42.5K $21.60/SF
− Vacancy
−$5.4K −$2.72/SF
EGI
$37.2K $18.88/SF
− OpEx
−$13.9K −$7.08/SF
NOI
$23.2K $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%
$464,400
Cap Rate 7%
$331,714
Cap Rate 9%
$258,000
Alternative Uses
Best Use
Mixed Use
$331.7K
$290.3K – $387.0K
NOI $23,220 @ 7.0% cap · market cap 4.79%
Second Best
Retail
$294.0K
$257.3K – $343.0K
NOI $20,581 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$612.1K
$535.6K – $714.1K
NOI $42,845 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
9,930 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Aroma Joe's
Dining
12,217 visits/mo
0.1 miles
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Open-plan space combines office and retail functions with two bathrooms and ADA accessibility.
Where is this mixed-use property located?
The property is located at 376 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Office and retail space in an open‑plan layout; Two bathrooms and ADA accessibility; Paved parking for 40‑plus vehicles
