Three-Unit Apartment
61 Shawmut St, Lewiston, ME 04240
For Sale
New
$465,000
Two residences have three bedrooms each, while the third has two bedrooms and will be vacant at closing.
Property Size4,086 SF
Price / SF$113.80
Days on Market6
Property Features for 61 Shawmut St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listed By:
Doug Schauf · License ME BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Nov 4
Last Checked: Nov 8 at 6:19AM
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 Doug Schauf
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Investment Insights
Based on property information with market context.
This three-unit apartment building in Lewiston contains 4,086 square feet, with two 3-bedroom units and one 2-bedroom unit. Unit 1 is occupied and has recently received paint and new carpet. The owner-occupied Unit 3 is scheduled to be delivered vacant at closing. Natural gas provides building heat, and the property was built in 1896.
The building is at 61 Shawmut St in downtown Lewiston, near shopping, parks, restaurants, Bates College, and Central Maine Medical Center.
The building is at 61 Shawmut St in downtown Lewiston, near shopping, parks, restaurants, Bates College, and Central Maine Medical Center.
Key Highlights
- 4,086‑square‑foot building with three apartment units
- Unit mix includes two 3‑bedroom residences and one 2‑bedroom residence
- Owner‑occupied Unit 3 will be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,300
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,000
$806.0K
Cap Rate 7%
$575,714
$575.7K
Cap Rate 9%
$447,778
$447.8K
Market Conditions
NOI Build-Up for 4,086 SF
Gross rent
$58.3K $14.28/SF
− Vacancy
−$776 −$0.19/SF
EGI
$57.6K $14.09/SF
− OpEx
−$17.3K −$4.23/SF
NOI
$40.3K $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 Rate 5%
$806,000
Cap Rate 7%
$575,714
Cap Rate 9%
$447,778
Alternative Uses
Best Use
Multifamily LT 5
$575.7K
$503.8K – $671.7K
NOI $40,300 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$547.0K
$478.6K – $638.2K
NOI $38,290 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,957 @ 7.0% cap · market cap 19.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,273
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
$214,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Androscoggin County, ME
Properties on Market for Triplexes in Androscoggin County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two residences have three bedrooms each, while the third has two bedrooms and will be vacant at closing.
Where is this triplex located?
The property is located at 61 Shawmut St Lewiston, ME.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 4,086‑square‑foot building with three apartment units; Unit mix includes two 3‑bedroom residences and one 2‑bedroom residence; Owner‑occupied Unit 3 will be vacant at closing
