Office Building with Lower-Level
For Sale
$349,000
467 Sabattus Street, Lewiston, ME 04240
A flexible professional layout includes staff kitchen space, two bathrooms, and off-street parking.
Property Size2,004 SF
Price / SF$174.15
Days on Market50
Property Features for 467 Sabattus Street
General Information
Standard status
Active
Size
2,004 SF
Property subtype
General Commercial
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$3,941
Amenities
natural light
two bathrooms
kitchen/break area
storage space
Building Details
Building Size
2,004 SF
Year Built
1950
Listing Agency:
Engel & Volkers Casco Bay
Listed By:
Timothy Kavanaugh
(207) 841-1121
Source:
Hoangrealty
Added: Sep 8
Changed: Oct 27
Last Checked: Oct 26 at 2:18PM
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 Engel & Volkers Casco Bay
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Investment Insights
Based on property information with market context.
This 2,004-square-foot office building was constructed in 1950 and features a layout suited to professional occupancy. Natural light, two bathrooms, and a small kitchen and break area serve the main space, while the lower level provides additional storage. The property has off-street parking.
At 467 Sabattus Street in Lewiston, the property is near Bates College and St. Mary's Hospital. Its existing office configuration and practical support spaces are central features of the offering.
At 467 Sabattus Street in Lewiston, the property is near Bates College and St. Mary's Hospital. Its existing office configuration and practical support spaces are central features of the offering.
Key Highlights
- 2,004 square feet of office space
- Built in 1950
- Two bathrooms and a small kitchen/break area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,738
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,760
$314.8K
Cap Rate 7%
$224,829
$224.8K
Cap Rate 9%
$174,867
$174.9K
Market Conditions
NOI Build-Up for 2,004 SF
Gross rent
$30.1K $15.00/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$26.2K $13.09/SF
− OpEx
−$10.5K −$5.24/SF
NOI
$15.7K $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%
$314,760
Cap Rate 7%
$224,829
Cap Rate 9%
$174,867
Alternative Uses
Best Use
Office B
$463.9K
$405.9K – $541.2K
NOI $32,473 @ 7.0% cap · market cap 9.30%
Second Best
Healthcare Medical
$224.8K
$196.7K – $262.3K
NOI $15,738 @ 7.0% cap · market cap 4.51%
Theoretical Best
Warehouse
$3.56M
$3.11M – $4.15M
NOI $249,148 @ 7.0% cap · market cap 71.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
633
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A flexible professional layout includes staff kitchen space, two bathrooms, and off-street parking.
Where is this office building located?
The property is located at 467 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,004 square feet of office space; Built in 1950; Two bathrooms and a small kitchen/break area
