Freestanding Office and Retail
For Sale
$375,000
513 Sabattus Street, Lewiston, ME 04240
COMMERCIAL - Lewiston, ME
Property Size2,400 SF
Lot Size0.16 Acres
Price / SF$154.70
Days on Market91
Property Features for 513 Sabattus Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CB
Rooms
Basement
Basement
Unfinished, Full
Lot features
Business District, Bus Line, Near Shopping
Standard status
Active
Size
2,424 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3310
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Zoned, Baseboard, Oil
Cooling system
Central Air
Water source
Public
Amenities
digital LED sign
Building Details
Year built
1914
Number of units
2
Flooring type
Laminate, Tile, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Rolled Hot Mop, Membrane
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Clayton Larochelle
(207) 784-3800
Added: May 14
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 1650686
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 freestanding office and retail building totals 2,400 square feet and is laid out with seven offices, including a reception area and a waiting room. The interior also includes two bathrooms and basement space. The property includes a paved parking lot with two entrances, and a large digital LED sign is included for customer messages and marketing.
Zoned CB, the building sits on a 0.16-acre lot on one of Lewiston’s busiest corners, where 22,460+ vehicles pass by this location. Construction is wood frame with wood siding.
Year built is 1914. Heating is provided via hot water oil with baseboard systems, and cooling includes central air. Public water and public sewer services are available, and the roof consists of membrane and rolled hot mop materials, with interior flooring including laminate, tile, and wood.
Zoned CB, the building sits on a 0.16-acre lot on one of Lewiston’s busiest corners, where 22,460+ vehicles pass by this location. Construction is wood frame with wood siding.
Year built is 1914. Heating is provided via hot water oil with baseboard systems, and cooling includes central air. Public water and public sewer services are available, and the roof consists of membrane and rolled hot mop materials, with interior flooring including laminate, tile, and wood.
Key Highlights
- 22,460+ vehicles pass by on Lewiston’s busiest corner
- 2,400 SF building with seven offices including reception and waiting room
- Paved parking lot with two entrances
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
$25,350
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
6.76%
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%
$507,000
$507.0K
Cap Rate 7%
$362,143
$362.1K
Cap Rate 9%
$281,667
$281.7K
Market Conditions
NOI Build-Up for 2,424 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
$43.6K $18.00/SF
− Vacancy
−$7.4K −$3.06/SF
EGI
$36.2K $14.94/SF
− OpEx
−$10.9K −$4.48/SF
NOI
$25.4K $10.46/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$507,000
Cap Rate 7%
$362,143
Cap Rate 9%
$281,667
Alternative Uses
Best Use
Office B
$561.1K
$491.0K – $654.6K
NOI $39,278 @ 7.0% cap · market cap 10.47%
Second Best
Retail
$362.1K
$316.9K – $422.5K
NOI $25,350 @ 7.0% cap · market cap 6.76%
Theoretical Best
Warehouse
$4.31M
$3.77M – $5.02M
NOI $301,364 @ 7.0% cap · market cap 80.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
364
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Zoned CB, this office and retail building offers central air, seven offices, and a paved parking lot with two entrances.
Where is this office units located?
The property is located at 513 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 22,460+ vehicles pass by on Lewiston’s busiest corner; 2,400 SF building with seven offices including reception and waiting room; Paved parking lot with two entrances
