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    20 East Ave Lewiston, ME 04240

    Sponsored
    For Lease
    $7 SF/Yr

    Grocery-anchored center, 89,572 SF available

    Lot size:
    183,691 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 183,691 square foot retail center, situated on a 6.24-acre lot in Lewiston, Maine, presents a unique investment opportunity. The property, comprised of five single-story buildings, boasts a desirable location within a thriving commercial area. Built in 1964 and renovated in 2010, the Class B center offers a mix of existing tenants and significant vacancy, providing flexibility for various retail concepts. Currently, there are eight spaces available, ranging in size from 2,630 square feet to a substantial 89,572 square feet of contiguous space. The property's zoning is COMMERCIAL (APN: RE00010773). Benefit from the strong demographics of the Lewiston-Auburn metropolitan area, the second largest in Maine with a population of 65,000 and proximity to nearly half of Maine's population within a 30-mile radius. The presence of Bates College, a top 20 liberal arts school, further enhances the area's appeal. This center is strategically located near established businesses such as Bull Moose Music, Family Dollar, CVS, the BBQ Pit, Dunkin', and Save-a-lot, creating a synergistic retail environment. This is an ideal opportunity to establish or expand your retail presence in a vibrant and growing market. The substantial vacant space allows for significant customization and tenant mix development.

    Property Features for 20 East Ave

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    183,691 SF
    Class
    B
    Total Rate
    107153.08

    Building Details

    Year Built/Renovated
    1964/2010
    Buildings
    5
    Stories
    1

    Unit(s) available at that property

    Space
    Suite 16
    Size
    2,667 SF
    Rate per SF
    $14
    Space
    Suite 4
    Size
    4,345 SF
    Rate per SF
    $14
    Space
    Suite 36
    Size
    5,000 SF
    Rate per SF
    $14
    Space
    Suite 2
    Size
    89,572 SF
    Rate per SF
    $14
    Space
    Suite 12
    Size
    4,200 SF
    Rate per SF
    $14
    Space
    Suite 8
    Size
    4,000 SF
    Rate per SF
    $14
    Space
    Suite 5
    Size
    2,630 SF
    Rate per SF
    $14

    HighLights

    • 183,691 SF retail center for lease.
    • Grocery‑anchored community/strip center with multiple tenants.
    • 89,572 SF of vacant space available.
    • Situated on a 6.24‑acre lot.
    • Class B property, built in 1964, renovated in 2010.
    • Five single‑story buildings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tio's Pawn Shop Pawn Shop Lewiston Mall Shopping Mall Family Dollar Dollar Store Golden City Chinese Restaurant Bull Moose Cd Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.202338243598
    Latitude
    44.086135484862

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    FAQs

    What type of property is this?
    Neighborhood center - Grocery-anchored center, 89,572 SF available
    Where is this neighborhood center located?
    The property is located at 20 East Ave Lewiston, ME.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 183,691 SF retail center for lease.; Grocery-anchored community/strip center with multiple tenants.; 89,572 SF of vacant space available.
    Request Owner's contact information
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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
    20 East Ave Lewiston, ME 04240
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