For Sale
$425,000
7 & 9 Orange Street, Lewiston, ME 04240
Duplexes
Property Size2,985 SF
Price / SF$142.38
Days on Market90
Property Features for 7 & 9 Orange Street
General Information
Standard status
Active
Size
2,985 SF
Property subtype
Multi-family
Amenities
Colonial
Building Details
Year Built
1883
Listing Agency:
Fontaine Family - The Real Estate Leader
Listed By:
Chad Doucette
(207) 357-3778
Source:
Brendafontaine
Added: Jul 20
Changed: Oct 16
Last Checked: Oct 16 at 9:24AM
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
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,441
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,820
$588.8K
Cap Rate 7%
$420,586
$420.6K
Cap Rate 9%
$327,122
$327.1K
Market Conditions
NOI Build-Up for 2,985 SF
Gross rent
$42.6K $14.28/SF
− Vacancy
−$567 −$0.19/SF
EGI
$42.1K $14.09/SF
− OpEx
−$12.6K −$4.23/SF
NOI
$29.4K $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%
$588,820
Cap Rate 7%
$420,586
Cap Rate 9%
$327,122
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.0K – $490.7K
NOI $29,441 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 6.58%
Theoretical Best
Warehouse
$5.30M
$4.64M – $6.19M
NOI $371,111 @ 7.0% cap · market cap 87.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
861
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
Where is this duplex located?
The property is located at 7 & 9 Orange Street Lewiston, ME.
What is the asking price?
The asking price for this property is $425,000.
