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    297 Main St Lewiston, ME 04240

    Sponsored
    For Sale
    $2,000,000

    10,692 SF Retail/Office/Medical

    Property size:
    10,692 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 10,692 square foot, two-story commercial building in Lewiston, Maine, presents a compelling investment opportunity. Located at 297 Main St, this Class B property sits on a 1.43-acre lot (APN 194/477 & 195/49) and boasts a desirable Community Business (CB) zoning. Originally a Walgreens, the building features a spacious 7,200 square foot main level and a 3,492 square foot lower level. Built in 1966, the property benefits from high visibility and traffic counts exceeding 17,000 vehicles daily, situated directly across from Central Maine Medical Center. The asking price is $2,000,000, translating to $187.06 per square foot. Potential uses include medical, office, or retail spaces, with lease rates estimated at $12.00 to $15.00 per square foot, NNN. This property offers significant redevelopment potential in a thriving Maine location. The property is owned by TIIP Lewiston LLC.

    Property Features for 297 Main St

    General Information

    Property type
    Medical space
    Square Feet
    10,692 SF
    Class
    B
    Lot Size
    62,291 SF

    Building Details

    Year Built
    1966
    Buildings
    1
    Stories
    2

    HighLights

    • 10,692 SF former Walgreens building on a 1.43‑acre lot.
    • High‑traffic location across from Central Maine Medical Center (over 17,000 vehicles daily).
    • Ideal for medical, office, or retail redevelopment.
    • Lease rate: $12.00 - $15.00/SF, NNN.
    • Sale price: $2,000,000 ($187.06/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Nappi Terri Nursing Agency Leong K C ... Obstetrician-Gynecologist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.214410405266
    Latitude
    44.100950327556

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    FAQs

    What type of property is this?
    Medical space - 10,692 SF Retail/Office/Medical
    Where is this medical space located?
    The property is located at 297 Main St Lewiston, ME.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 10,692 SF former Walgreens building on a 1.43-acre lot.; High-traffic location across from Central Maine Medical Center (over 17,000 vehicles daily).; Ideal for medical, office, or retail redevelopment.
    Request Owner's contact information
    297 Main St Lewiston, ME 04240
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    Lewiston, ME 04240
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    297 Main St Lewiston, ME 04240
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