Mixed-Use Property with
For Sale
$337,500
643 Main St, Lewiston, ME 04240
Flexible layout supports residential living, commercial activity, or a combination of both.
Property Size1,961 SF
Price / SF$172.11
Days on Market36
Property Features for 643 Main St
General Information
Standard status
Active
Size
1,961 SF
Additional Details
Utilities to Site
Yes
Amenities
sunroom
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Realty
(508) 277-5759
Listed By:
Aaron Kollmeyer · License #SA927421
Source:
Aroostookrealestate
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 30 at 7:07PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located at 643 Main St in Lewiston, this mixed-use property combines adaptable interior space with residential and commercial functionality. The first floor offers a large open area, while the second floor includes up to four potential bedrooms. A sunroom adds usable space beside the parking area, and the full basement provides a garage bay, half bathroom, and room for storage or workshop use.
Built in 1925, the property has 1,961 square feet and has received several significant updates, including a new boiler, roof, siding, and electrical service. Its Main Street setting and configuration support a range of live-work arrangements, business operations, or residential use.
Built in 1925, the property has 1,961 square feet and has received several significant updates, including a new boiler, roof, siding, and electrical service. Its Main Street setting and configuration support a range of live-work arrangements, business operations, or residential use.
Key Highlights
- 1,961‑square‑foot mixed‑use property at 643 Main St in Lewiston
- Up to four potential bedrooms on the second floor
- Large open first‑floor area for residential or commercial use
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
$23,138
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
6.86%
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%
$462,760
$462.8K
Cap Rate 7%
$330,543
$330.5K
Cap Rate 9%
$257,089
$257.1K
Market Conditions
NOI Build-Up for 1,961 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
$42.4K $21.60/SF
− Vacancy
−$5.3K −$2.72/SF
EGI
$37.0K $18.88/SF
− OpEx
−$13.9K −$7.08/SF
NOI
$23.1K $11.80/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$462,760
Cap Rate 7%
$330,543
Cap Rate 9%
$257,089
Alternative Uses
Best Use
Office B
$453.9K
$397.2K – $529.6K
NOI $31,776 @ 7.0% cap · market cap 9.42%
Second Best
Mixed Use
$330.5K
$289.2K – $385.6K
NOI $23,138 @ 7.0% cap · market cap 6.86%
Theoretical Best
Warehouse
$3.48M
$3.05M – $4.06M
NOI $243,802 @ 7.0% cap · market cap 72.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
381
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible layout supports residential living, commercial activity, or a combination of both.
Where is this mixed-use property located?
The property is located at 643 Main St Lewiston, ME.
What is the asking price?
The asking price for this property is $337,500.
What are key features of this property?
This property features: 1,961‑square‑foot mixed‑use property at 643 Main St in Lewiston; Up to four potential bedrooms on the second floor; Large open first‑floor area for residential or commercial use
