Triplex with
For Sale
$335,000
Pending
79 Dow Ave, Lewiston, ME 04240
Fully rented three-unit property with laundry hookups, garage, and backyard space.
Property Size2,276 SF
Days on Market52
Property Features for 79 Dow Ave
General Information
Standard status
Pending
Size
2,276 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Amenities
backyard
garage
laundry hookups
Building Details
Year Built
1916
Listing Agency:
CENTURY 21 Advantage
(207) 782-2121
Listed By:
Roy L'Italien Jr.
Source:
Aroostookrealestate
Added: Jul 12
Changed: Aug 31
Last Checked: Aug 30 at 8:24PM
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 CENTURY 21 Advantage
Investment Insights
Based on property information with market context.
This triplex contains three residential units within a 2,276-square-foot property built in 1916. The improvements include a garage, laundry hookups, and a backyard. All three units are currently rented.
Located at 79 Dow Ave in Lewiston, Maine, the property offers an existing three-unit configuration with outdoor space and on-site garage functionality. Its established construction date and current occupancy provide a straightforward profile for a residential income property buyer.
Located at 79 Dow Ave in Lewiston, Maine, the property offers an existing three-unit configuration with outdoor space and on-site garage functionality. Its established construction date and current occupancy provide a straightforward profile for a residential income property buyer.
Key Highlights
- Three‑unit residential property at 79 Dow Ave, Lewiston, ME 04240
- 2,276‑square‑foot property built in 1916
- All three units are fully rented
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
$22,448
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
6.70%
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%
$448,960
$449.0K
Cap Rate 7%
$320,686
$320.7K
Cap Rate 9%
$249,422
$249.4K
Market Conditions
NOI Build-Up for 2,276 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
$32.5K $14.28/SF
− Vacancy
−$432 −$0.19/SF
EGI
$32.1K $14.09/SF
− OpEx
−$9.6K −$4.23/SF
NOI
$22.4K $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 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%
$448,960
Cap Rate 7%
$320,686
Cap Rate 9%
$249,422
Alternative Uses
Best Use
Multifamily LT 5
$320.7K
$280.6K – $374.1K
NOI $22,448 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$304.7K
$266.6K – $355.5K
NOI $21,328 @ 7.0% cap · market cap 6.37%
Theoretical Best
Warehouse
$4.04M
$3.54M – $4.72M
NOI $282,964 @ 7.0% cap · market cap 84.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
166
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 - Fully rented three-unit property with laundry hookups, garage, and backyard space.
Where is this triplex located?
The property is located at 79 Dow Ave Lewiston, ME.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Three‑unit residential property at 79 Dow Ave, Lewiston, ME 04240; 2,276‑square‑foot property built in 1916; All three units are fully rented
