Flex Space with Commercial
For Sale
$1,350,000
551 Lincoln Street, Lewiston, ME 04240
Versatile commercial layout with private offices, multiple entrances, loading access, and UE & RP zoning.
Property Size9,860 SF
Lot Size0.94 Acres
Price / SF$136.92
Days on Market73
Property Features for 551 Lincoln Street
General Information
Standard status
Active
Size
9,860 SF
Lot size
0.94 Acres
Property subtype
Commercial
Zoning
UE & RP
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Dock-High Doors
1
Three-Phase Power
Yes
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$12,154
Building Details
Building Size
9,860 SF
Year Built
1958
Stories
1
Listing Agency:
Ferraro Realty LLC
(207) 577-5459
Listed By:
Pressley Lawrence
(207) 577-5459
Source:
Startpoint
Added: May 28
Changed: Aug 7
Last Checked: Aug 8 at 12:17PM
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 Ferraro Realty LLC
Investment Insights
Based on property information with market context.
Located at 551 Lincoln Street in Lewiston, this 9,860± SF flex property occupies a .94-acre lot and was built in 1958. The building combines multiple private offices with separate entrances and a large open area that can accommodate varied commercial operations. A fully plumbed commercial kitchen includes operational refrigeration and freezer systems, while additional improvements include a loading dock, overhead door, three-phase power, and on-site parking.
The property has convenient access to I-95 and nearby commercial corridors. Its configuration supports multiple-tenant occupancy, and a lease option is available. The UE & RP zoning, kitchen infrastructure, loading capabilities, and flexible interior provide a range of documented commercial features for prospective users.
The property has convenient access to I-95 and nearby commercial corridors. Its configuration supports multiple-tenant occupancy, and a lease option is available. The UE & RP zoning, kitchen infrastructure, loading capabilities, and flexible interior provide a range of documented commercial features for prospective users.
Key Highlights
- 9,860± SF flex property on a .94‑acre lot
- Fully plumbed commercial kitchen with operational refrigeration and freezer systems
- Multiple private offices, separate entrances, and a large open‑concept area
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
$79,547
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
5.89%
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%
$1,590,940
$1.6M
Cap Rate 7%
$1,136,386
$1.1M
Cap Rate 9%
$883,856
$883.9K
Market Conditions
NOI Build-Up for 9,860 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
$127.8K $12.96/SF
− Vacancy
−$21.7K −$2.20/SF
EGI
$106.1K $10.76/SF
− OpEx
−$26.5K −$2.69/SF
NOI
$79.5K $8.07/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,590,940
Cap Rate 7%
$1,136,386
Cap Rate 9%
$883,856
Alternative Uses
Best Use
Warehouse
$17.51M
$15.32M – $20.43M
NOI $1,225,847 @ 7.0% cap · market cap 90.80%
Second Best
Industrial
$14.42M
$12.62M – $16.83M
NOI $1,009,521 @ 7.0% cap · market cap 74.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Under-served
Demand for This Use
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.
Similar Off Market Nearby
- Taste of soul — 52 Hampshire St, Auburn, ME 04210
- Krushdem Kitchen — 63 Jefferson St, Lewiston, ME 04240
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial layout with private offices, multiple entrances, loading access, and UE & RP zoning.
Where is this flex space located?
The property is located at 551 Lincoln Street Lewiston, ME.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9,860± SF flex property on a .94‑acre lot; Fully plumbed commercial kitchen with operational refrigeration and freezer systems; Multiple private offices, separate entrances, and a large open‑concept area
