Mixed-Use Property with Commercial
For Sale
$475,000
76 S Lisbon Road, Lewiston, ME 04240
Two residential units accompany an attached commercial area with separate access and Highway Business zoning.
Property Size3,880 SF
Lot Size4.72 Acres
Days on Market1209
Property Features for 76 S Lisbon Road
General Information
Standard status
Active
Size
3,880 SF
Lot size
4.72 Acres
Property subtype
Commercial
Zoning
HB
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,954
Building Details
Building Size
3,880 SF
Year Built
1800
Stories
2
Construction
colonial
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 782-8311
Listed By:
Mark Pilot
(207) 782-8311
Source:
Startpoint
Added: May 2, 2023
Changed: Aug 17
Last Checked: Aug 21 at 2:29PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This mixed-use property combines a two-unit colonial residence with an attached commercial area that has private access. The apartments offer spacious rooms, while the commercial portion can be configured for a range of uses. Recent systems and building upgrades are also noted.
The property encompasses 4.72 acres of mostly open, level land at 76 S Lisbon Road in Lewiston, Maine. Off-street parking serves the combined residential and commercial uses, and the Maine Turnpike is a few miles away with access toward points north and south. The site is zoned HB, or Highway Business.
The property encompasses 4.72 acres of mostly open, level land at 76 S Lisbon Road in Lewiston, Maine. Off-street parking serves the combined residential and commercial uses, and the Maine Turnpike is a few miles away with access toward points north and south. The site is zoned HB, or Highway Business.
Key Highlights
- Two‑unit colonial with attached commercial space and private access
- 4.72 acres of mostly open, level land
- HB, or Highway Business, zoning
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
$38,269
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
8.06%
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%
$765,380
$765.4K
Cap Rate 7%
$546,700
$546.7K
Cap Rate 9%
$425,211
$425.2K
Market Conditions
NOI Build-Up for 3,880 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
$55.4K $14.28/SF
− Vacancy
−$737 −$0.19/SF
EGI
$54.7K $14.09/SF
− OpEx
−$16.4K −$4.23/SF
NOI
$38.3K $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%
$765,380
Cap Rate 7%
$546,700
Cap Rate 9%
$425,211
Alternative Uses
Best Use
Office B
$898.2K
$785.9K – $1.05M
NOI $62,871 @ 7.0% cap · market cap 13.24%
Second Best
Mixed Use
$654.0K
$572.3K – $763.0K
NOI $45,780 @ 7.0% cap · market cap 9.64%
Theoretical Best
Warehouse
$6.89M
$6.03M – $8.04M
NOI $482,382 @ 7.0% cap · market cap 101.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
76
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 - Two residential units accompany an attached commercial area with separate access and Highway Business zoning.
Where is this mixed-use property located?
The property is located at 76 S Lisbon Road Lewiston, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit colonial with attached commercial space and private access; 4.72 acres of mostly open, level land; HB, or Highway Business, zoning
