Industrial Flex
For Sale
$345,000
7 Enterprise Street, Lewiston, ME 04240
Industrial-zoned property with a work floor, garage bay, office, and bathroom for manufacturing and trade operations.
Property Size2,400 SF
Days on Market137
Property Features for 7 Enterprise Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
Industrial
Taxes and HOA fees
Annual Taxes
$3,685
Building Details
Building Size
2,400 SF
Year Built
1972
Listing Agency:
Salt Real Estate Co
(207) 730-1991
Listed By:
JULIE SHEEHAN
(207) 730-1991
Source:
Startpoint
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 11:30PM
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 Salt Real Estate Co
Investment Insights
Based on property information with market context.
This flex-space property in Lewiston combines an industrial work area with supporting office and service components. The layout includes a work floor, garage bay, office, and bathroom, creating a practical configuration for manufacturing, contractor, service, and trade-related operations. The building dates to 1972 and offers both operational and customer-facing space within one commercial footprint.
Located at 7 Enterprise Street, the property is near the intersection of Lisbon Street and Alfred A Plourde Parkway, with access to I-95. Industrial zoning supports the property’s established commercial and operational character. Its existing configuration can accommodate an owner-user seeking a dedicated work location or an investor evaluating an industrial flex asset.
Located at 7 Enterprise Street, the property is near the intersection of Lisbon Street and Alfred A Plourde Parkway, with access to I-95. Industrial zoning supports the property’s established commercial and operational character. Its existing configuration can accommodate an owner-user seeking a dedicated work location or an investor evaluating an industrial flex asset.
Key Highlights
- Work floor, garage bay, office, and bathroom included
- Industrial zoning supports manufacturing and operational uses
- Building constructed in 1972
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
$14,421
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
4.18%
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%
$288,420
$288.4K
Cap Rate 7%
$206,014
$206.0K
Cap Rate 9%
$160,233
$160.2K
Market Conditions
NOI Build-Up for 2,400 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
$22.8K $9.48/SF
− Vacancy
−$567 −$0.24/SF
EGI
$22.2K $9.24/SF
− OpEx
−$7.8K −$3.24/SF
NOI
$14.4K $6.01/SF
Area
Androscoggin County, ME
Vacancy
2.49%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$288,420
Cap Rate 7%
$206,014
Cap Rate 9%
$160,233
Alternative Uses
Best Use
Industrial
$3.51M
$3.07M – $4.10M
NOI $245,725 @ 7.0% cap · market cap 71.22%
Second Best
Flex RnD
$206.0K
$180.3K – $240.4K
NOI $14,421 @ 7.0% cap · market cap 4.18%
Theoretical Best
Warehouse
$4.26M
$3.73M – $4.97M
NOI $298,381 @ 7.0% cap · market cap 86.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned property with a work floor, garage bay, office, and bathroom for manufacturing and trade operations.
Where is this flex space located?
The property is located at 7 Enterprise Street Lewiston, ME.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Work floor, garage bay, office, and bathroom included; Industrial zoning supports manufacturing and operational uses; Building constructed in 1972
