Four-Unit Multifamily
For Sale
$595,000
7 Shawmut St Unit 4, Lewiston, ME 04240
Well-maintained residential income property with varied unit layouts, shared areas, storage, and on-site parking.
Property Size5,720 SF
Price / SF$104.02
Days on Market42
Property Features for 7 Shawmut St Unit 4
General Information
Standard status
Active
Size
5,720 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR, 2 x 3BR
Multifamily Units
4
Amenities
common areas
storage areas
garbage room
porches
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty
(207) 209-0145
Listed By:
Jay Weinberg · License #BA905386
Source:
603luxury
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 11:28AM
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.
This 5,720-square-foot multifamily property at 7 Shawmut St Unit 4 in Lewiston includes four apartments within a 1920 building. The unit mix consists of two one-bedroom apartments and two three-bedroom apartments. Interior features include hardwood flooring, tile bathroom finishes, original trim and moldings in portions of the building, generous kitchens, and distinct living and dining rooms. Washer and dryer hookups are provided across the units, with dryer hookups in the storage rooms serving the three-bedroom apartments.
The property occupies a double lot with multiple parking spaces, common areas, storage areas, and a dedicated garbage room. Both three-bedroom apartments include small front porches, large rear porches, and private storage rooms. The building has undergone numerous upgrades over time and is described as compliant with current fire codes. Ownership has remained consistent for more than 20 years.
The property occupies a double lot with multiple parking spaces, common areas, storage areas, and a dedicated garbage room. Both three-bedroom apartments include small front porches, large rear porches, and private storage rooms. The building has undergone numerous upgrades over time and is described as compliant with current fire codes. Ownership has remained consistent for more than 20 years.
Key Highlights
- Four apartments totaling 5,720 SF in a 1920 multifamily building
- Unit mix includes two one‑bedroom and two three‑bedroom apartments
- Double lot with multiple parking spaces and shared common areas
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
$53,602
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
9.01%
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%
$1,072,040
$1.1M
Cap Rate 7%
$765,743
$765.7K
Cap Rate 9%
$595,578
$595.6K
Market Conditions
NOI Build-Up for 5,720 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
$98.8K $17.28/SF
− Vacancy
−$1.4K −$0.24/SF
EGI
$97.5K $17.04/SF
− OpEx
−$43.9K −$7.67/SF
NOI
$53.6K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,072,040
Cap Rate 7%
$765,743
Cap Rate 9%
$595,578
Alternative Uses
Best Use
Multifamily LT 5
$806.0K
$705.2K – $940.3K
NOI $56,417 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.4K
NOI $53,602 @ 7.0% cap · market cap 9.01%
Theoretical Best
Warehouse
$10.16M
$8.89M – $11.85M
NOI $711,140 @ 7.0% cap · market cap 119.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,245
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained residential income property with varied unit layouts, shared areas, storage, and on-site parking.
Where is this quadplex located?
The property is located at 7 Shawmut St Unit 4 Lewiston, ME.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four apartments totaling 5,720 SF in a 1920 multifamily building; Unit mix includes two one‑bedroom and two three‑bedroom apartments; Double lot with multiple parking spaces and shared common areas
