Three-Unit Multifamily
New
For Sale
$499,000
65 Jefferson Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size4,521 SF
Lot Size0.11 Acres
Price / SF$110.37
Days on Market2
Property Features for 65 Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NCA
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3
Patio and Porch features
Porch
Basement
Full, Unfinished
Lot features
Open, Level, Sidewalks, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
4,521 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3865
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
rear porch
shed
washer/dryer hookups
Building Details
Year built
1924
Floors in Building
3
Number of units
3
Flooring type
Carpet, Tile - Ceramic, Wood
Building materials
Wood Frame, Asbestos
Roof type
Flat, Membrane
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Clayton Larochelle
(207) 784-3800
Added: Aug 21
Last Checked: Aug 22 at 9:06AM
MLS# 1677223
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,521-square-foot triplex at 65 Jefferson Street contains three three-bedroom units, each with a full bathroom, kitchen, dining room, living room, rear porch, shed, and washer/dryer hookups. The 1924 wood-frame building includes a one-car garage, small backyard, flat membrane roof, and a newer natural-gas baseboard boiler. Interior finishes include carpet, ceramic tile, and wood flooring.
Two of the three apartments are currently vacant. The property is served by public water and public sewer and carries NCA zoning. Located in Lewiston, Maine, the site encompasses 0.11 acres and is identified as 65 Jefferson Street, Lewiston, ME 04240.
Two of the three apartments are currently vacant. The property is served by public water and public sewer and carries NCA zoning. Located in Lewiston, Maine, the site encompasses 0.11 acres and is identified as 65 Jefferson Street, Lewiston, ME 04240.
Key Highlights
- Three 3‑bedroom units, each with a full bath, kitchen, dining room, and living room
- 4,521 square feet on a 0.11‑acre lot
- Two of the three units currently vacant
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
$44,591
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
8.94%
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%
$891,820
$891.8K
Cap Rate 7%
$637,014
$637.0K
Cap Rate 9%
$495,456
$495.5K
Market Conditions
NOI Build-Up for 4,521 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
$64.6K $14.28/SF
− Vacancy
−$859 −$0.19/SF
EGI
$63.7K $14.09/SF
− OpEx
−$19.1K −$4.23/SF
NOI
$44.6K $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%
$891,820
Cap Rate 7%
$637,014
Cap Rate 9%
$495,456
Alternative Uses
Best Use
Multifamily LT 5
$637.0K
$557.4K – $743.2K
NOI $44,591 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$605.2K
$529.6K – $706.1K
NOI $42,366 @ 7.0% cap · market cap 8.49%
Theoretical Best
Warehouse
$8.03M
$7.03M – $9.37M
NOI $562,074 @ 7.0% cap · market cap 112.64%
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
2,224
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
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Frequently Asked Questions
What type of property is this?
Triplex - Each unit offers three bedrooms, a full bath, kitchen, dining and living rooms, plus washer/dryer hookups.
Where is this triplex located?
The property is located at 65 Jefferson Street 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: Three 3‑bedroom units, each with a full bath, kitchen, dining room, and living room; 4,521 square feet on a 0.11‑acre lot; Two of the three units currently vacant
