Well-Maintained Three-Unit
For Sale
$499,000
56 Webster St, Lewiston, ME 04240
Three-unit multifamily featuring three 2-bedroom, 1-bath layouts suitable for long-term tenancy.
Property Size3,159 SF
Days on Market48
Property Features for 56 Webster St
General Information
Standard status
Active
Size
3,159 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Building Details
Building Size
3,159 SF
Year Built
1940
Listing Agency:
The Boulos Company Portland
Listed By:
Derek Miller · License #918125
(207) 240-0032
Source:
Boulos
Added: Jul 23
Changed: Sep 3
Last Checked: Sep 8 at 6:57AM
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 The Boulos Company Portland
Investment Insights
Based on property information with market context.
Well-maintained three-unit multifamily property offering three separate 2-bedroom, 1-bath layouts. The building provides a consistent unit mix across all three units.
The property is located in the heart of Lewiston, Maine, and is described as suited for stable, long-term tenancy.
With three units total, the asset is designed for buyers seeking a straightforward residential income structure with similar floorplans.
The property is located in the heart of Lewiston, Maine, and is described as suited for stable, long-term tenancy.
With three units total, the asset is designed for buyers seeking a straightforward residential income structure with similar floorplans.
Key Highlights
- Well‑maintained three‑unit multifamily
- All units feature 2 bedrooms and 1 bathroom
- Three 2‑bedroom, 1‑bath layouts suitable for stable, long‑term tenancy
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
$31,157
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
6.24%
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%
$623,140
$623.1K
Cap Rate 7%
$445,100
$445.1K
Cap Rate 9%
$346,189
$346.2K
Market Conditions
NOI Build-Up for 3,159 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
$45.1K $14.28/SF
− Vacancy
−$600 −$0.19/SF
EGI
$44.5K $14.09/SF
− OpEx
−$13.4K −$4.23/SF
NOI
$31.2K $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 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%
$623,140
Cap Rate 7%
$445,100
Cap Rate 9%
$346,189
Alternative Uses
Best Use
Multifamily LT 5
$445.1K
$389.5K – $519.3K
NOI $31,157 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$422.9K
$370.0K – $493.4K
NOI $29,603 @ 7.0% cap · market cap 5.93%
Theoretical Best
Warehouse
$5.61M
$4.91M – $6.55M
NOI $392,743 @ 7.0% cap · market cap 78.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,495
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 Multifamily 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?
Triplex - Three-unit multifamily featuring three 2-bedroom, 1-bath layouts suitable for long-term tenancy.
Where is this triplex located?
The property is located at 56 Webster St Lewiston, ME.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Well‑maintained three‑unit multifamily; All units feature 2 bedrooms and 1 bathroom; Three 2‑bedroom, 1‑bath layouts suitable for stable, long‑term tenancy
