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    832 College St Lewiston, ME 04240

    Sponsored
    For Sale
    $1,787,100

    34+ acres, 272 apartments or 68 homes

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 34+ acre property presents a remarkable development opportunity in Lewiston, Maine. Strategically located less than 2.5 miles from Bates College, this offering comprises two parcels. The first, 832 College Street, boasts over 200 feet of road frontage on College Street, encompassing 7 acres and including a 3-bedroom, 2-bathroom, 1600+ square foot home with an updated kitchen and garage. The second parcel, located at 816 College Street Rear, consists of over 27 acres of undeveloped land, providing significant expansion potential. Conveniently situated near major retailers like Walmart, Home Depot, and Hobby Lobby, as well as the Auburn Mall, this location offers easy access to amenities. The property benefits from dual access points, with recent city approval granting access from Rejane Avenue in addition to College Street. Zoned MDR (Medium Density Residential), the land allows for development of up to eight units per acre for multifamily housing or up to two units per acre for single-family homes, including mobile homes. This presents a unique chance to create a substantial residential development within a thriving community, less than an hour from the Portland International Jetport and Sebago Lake, and approximately 2.5 hours from Boston. The asking price for this expansive property is $1,787,100. The APN is LEWI-000113-000000-000007.

    Property Features for 832 College St

    General Information

    Property type
    Retirement homes
    Lot Size
    1,481,040 SF

    HighLights

    • $1,787,100 asking price.
    • 34+ acre lot with MDR zoning in Lewiston, Maine.
    • Development opportunity: 272 apartment units or 68 single‑family homes.
    • Two parcels included: one 7‑acre parcel with existing 3‑bedroom, 2‑bathroom home; one 27+ acre undeveloped parcel.
    • Excellent location near Bates College, Auburn Mall, and major retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retirement homes

    Suggested Use

    Law Firm Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Food Market HVAC Service Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.1788317
    Latitude
    44.136836

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    FAQs

    What type of property is this?
    Retirement home - 34+ acres, 272 apartments or 68 homes
    Where is this retirement home located?
    The property is located at 832 College St Lewiston, ME.
    What is the asking price?
    The asking price for this property is $1,787,100.
    What are key features of this property?
    This property features: $1,787,100 asking price.; 34+ acre lot with MDR zoning in Lewiston, Maine.; Development opportunity: 272 apartment units or 68 single-family homes.
    Request Owner's contact information
    832 College 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
    832 College St Lewiston, ME 04240
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