Duplex with Three-Car
For Sale
$300,000
8 Thompson St, Lewiston, ME 04240
Two residential units feature oak kitchens, front porches, and low-maintenance vinyl exteriors.
Property Size2,464 SF
Price / SF$121.75
Days on Market48
Property Features for 8 Thompson St
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi-Family
Building Details
Year Built
1946
Listing Agency:
(207) 841-7569
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 4:00PM
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 Kathy Gallant
Investment Insights
Based on property information with market context.
This 1946 duplex includes two separate apartments, configured with one three-bedroom unit and one two-bedroom unit. Both residences feature practical layouts and oak kitchens, while portions of the property have recently updated flooring. Front porches add usable outdoor space, and vinyl siding with replacement vinyl windows supports a lower-maintenance exterior. An attached three-car garage provides vehicle and storage capacity, complemented by ample on-site parking.
The property is located in Lewiston with access to shopping, restaurants, schools, and other local amenities. Its two-unit layout, garage capacity, and distinct bedroom configurations support both rental occupancy and owner-occupant use.
The property is located in Lewiston with access to shopping, restaurants, schools, and other local amenities. Its two-unit layout, garage capacity, and distinct bedroom configurations support both rental occupancy and owner-occupant use.
Key Highlights
- Two‑unit duplex with one 3‑bedroom apartment and one 2‑bedroom apartment
- Attached 3‑car garage with ample parking
- Oak kitchens in both apartments
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
$24,303
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
8.10%
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%
$486,060
$486.1K
Cap Rate 7%
$347,186
$347.2K
Cap Rate 9%
$270,033
$270.0K
Market Conditions
NOI Build-Up for 2,464 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
$35.2K $14.28/SF
− Vacancy
−$468 −$0.19/SF
EGI
$34.7K $14.09/SF
− OpEx
−$10.4K −$4.23/SF
NOI
$24.3K $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%
$486,060
Cap Rate 7%
$347,186
Cap Rate 9%
$270,033
Alternative Uses
Best Use
Multifamily LT 5
$347.2K
$303.8K – $405.1K
NOI $24,303 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$329.9K
$288.6K – $384.8K
NOI $23,090 @ 7.0% cap · market cap 7.70%
Theoretical Best
Warehouse
$4.38M
$3.83M – $5.11M
NOI $306,337 @ 7.0% cap · market cap 102.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
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?
Duplex - Two residential units feature oak kitchens, front porches, and low-maintenance vinyl exteriors.
Where is this duplex located?
The property is located at 8 Thompson St Lewiston, ME.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex with one 3‑bedroom apartment and one 2‑bedroom apartment; Attached 3‑car garage with ample parking; Oak kitchens in both apartments
