Three-Bay Automotive Repair
For Sale
$240,000
61 Lincoln Street, Lewiston, ME 04240
Established automotive service property with dedicated shop equipment, office furnishings, and a corner-lot setting.
Property Size1,947 SF
Price / SF$123.27
Days on Market94
Property Features for 61 Lincoln Street
General Information
Standard status
Active
Size
1,947 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Service Bays
3
Building Details
Year Built
1954
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 699-7022
Listed By:
Aaren James
(207) 699-7022
Source:
Brendafontaine
Added: May 30
Changed: Aug 30
Last Checked: Aug 30 at 1:18PM
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 Fontaine Family-The Real Estate Leader
Investment Insights
Based on property information with market context.
This automotive repair property includes a three-bay garage, the underlying real estate, and a substantial package of shop and office equipment. Included items consist of two working vehicle lifts, a tire machine with helper, tire balancer, bearing press, air compressor, MIG welder, torch setup, shop tools, and office furniture.
Built in 1954, the facility has supported more than 50 years of automotive repair operations. The property occupies a corner lot at 61 Lincoln Street in Lewiston, with access features suited to an operating repair business. The equipment package and existing garage configuration provide a defined physical setup for continued automotive service use.
Built in 1954, the facility has supported more than 50 years of automotive repair operations. The property occupies a corner lot at 61 Lincoln Street in Lewiston, with access features suited to an operating repair business. The equipment package and existing garage configuration provide a defined physical setup for continued automotive service use.
Key Highlights
- Three‑bay automotive repair garage with real estate included
- Two working vehicle lifts included
- Equipment package includes tire machine, helper, and tire balancer
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
$20,362
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
8.48%
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%
$407,240
$407.2K
Cap Rate 7%
$290,886
$290.9K
Cap Rate 9%
$226,244
$226.2K
Market Conditions
NOI Build-Up for 1,947 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
$35.0K $18.00/SF
− Vacancy
−$6.0K −$3.06/SF
EGI
$29.1K $14.94/SF
− OpEx
−$8.7K −$4.48/SF
NOI
$20.4K $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%
$407,240
Cap Rate 7%
$290,886
Cap Rate 9%
$226,244
Alternative Uses
Best Use
Industrial
$2.85M
$2.49M – $3.32M
NOI $199,345 @ 7.0% cap · market cap 83.06%
Second Best
Retail
$290.9K
$254.5K – $339.4K
NOI $20,362 @ 7.0% cap · market cap 8.48%
Theoretical Best
Warehouse
$3.46M
$3.03M – $4.03M
NOI $242,061 @ 7.0% cap · market cap 100.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,818
Businesses Nearby
47k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 21%
Hotels & Casinos 19%
Dunkin' Donuts
Dining
9,785 visits/mo
0.4 miles
Citgo
Shops & Services
8,720 visits/mo
0.3 miles
Hilton Garden Inn Auburn Riverwatch
Hotels & Casinos
6,373 visits/mo
0.5 miles
TD Bank
Shops & Services
6,313 visits/mo
0.4 miles
Gulf Oil
Shops & Services
4,920 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Brandon's mobile auto repair — 9th St, Auburn, ME 04210
- Young Guns Services Center — 105 Riverside Dr #6924, Auburn, ME 04210
- Brad's Precision Auto Repair — 144 Riverside Dr, Auburn, ME 04210
- Sullivan Tire & Auto Service — 805 Lisbon St, Lewiston, ME 04240
- Lewiston Radiator Works — 48 Riverside Dr, Auburn, ME 04210
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive service property with dedicated shop equipment, office furnishings, and a corner-lot setting.
Where is this auto shop located?
The property is located at 61 Lincoln Street Lewiston, ME.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three‑bay automotive repair garage with real estate included; Two working vehicle lifts included; Equipment package includes tire machine, helper, and tire balancer
