Two-Unit Duplex with
For Sale
$399,000
9 Scribner Boulevard, Lewiston, ME 04240
Duplex offering separate living arrangements, storage, and convenient access to the Maine Turnpike and nearby amenities.
Property Size1,786 SF
Price / SF$223.40
Days on Market23
Property Features for 9 Scribner Boulevard
General Information
Standard status
Active
Size
1,786 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Amenities
Ranch
Building Details
Year Built
1956
Tenancy
Multi
Listing Agency:
Fontaine Family - The Real Estate Leader
(207) 577-3334
Listed By:
Tiffany Poland
(207) 577-3334
Source:
Brendafontaine
Added: Jul 20
Changed: Aug 11
Last Checked: Aug 11 at 10:35AM
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 Fontaine Family - The Real Estate Leader
Investment Insights
Based on property information with market context.
This 1,786-square-foot duplex, built in 1956, contains two residential units and offers a flexible configuration for ownership or occupancy. The property can support two-unit use, a live-in arrangement with additional household space, or conversion into one larger single-family residence. A three-unit conversion has also been identified, subject to municipal approvals.
The property includes a detached two-car garage and additional storage. Its Lewiston location provides access to the Maine Turnpike, shopping, restaurants, and other local amenities, supporting convenient day-to-day access for residents. The existing two-unit layout and adaptable configuration provide several ways to use the property while retaining the detached garage and storage improvements.
The property includes a detached two-car garage and additional storage. Its Lewiston location provides access to the Maine Turnpike, shopping, restaurants, and other local amenities, supporting convenient day-to-day access for residents. The existing two-unit layout and adaptable configuration provide several ways to use the property while retaining the detached garage and storage improvements.
Key Highlights
- Two‑unit duplex configuration
- 1,786 SF property built in 1956
- Detached two‑car garage
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
$17,615
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
4.41%
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%
$352,300
$352.3K
Cap Rate 7%
$251,643
$251.6K
Cap Rate 9%
$195,722
$195.7K
Market Conditions
NOI Build-Up for 1,786 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
$25.5K $14.28/SF
− Vacancy
−$339 −$0.19/SF
EGI
$25.2K $14.09/SF
− OpEx
−$7.5K −$4.23/SF
NOI
$17.6K $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%
$352,300
Cap Rate 7%
$251,643
Cap Rate 9%
$195,722
Alternative Uses
Best Use
Multifamily LT 5
$251.6K
$220.2K – $293.6K
NOI $17,615 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$239.1K
$209.2K – $279.0K
NOI $16,737 @ 7.0% cap · market cap 4.19%
Theoretical Best
Warehouse
$3.17M
$2.78M – $3.70M
NOI $222,045 @ 7.0% cap · market cap 55.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
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 - Duplex offering separate living arrangements, storage, and convenient access to the Maine Turnpike and nearby amenities.
Where is this duplex located?
The property is located at 9 Scribner Boulevard Lewiston, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,786 SF property built in 1956; Detached two‑car garage
