Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Former Walgreens Retail/Office Space Title is generated by Realmo AI

    297-315 Main Street, Lewiston, ME 04240

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    10,692± SF former Walgreens across from Central Maine Medical Center.

    Type:Retail, Office
    Property size:
    10,692 SF
    Lot size:
    1.43 Acres
    Added:
    Jun 21, 2022
    Days on Market:
    1443
    Last Refresh:
    May 12 at 9:01 pm

    Property Features for 297-315 Main Street

    General Information

    Standard status
    Active
    Size
    10,692 SF
    Lot size
    1.43 Acres
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1966

    Spaces For Lease

    at 297-315 Main Street Contact us

    Available Space $12/Mo

    Size
    10,692 SF
    Type
    Retail, Office
    NNN EXPENSES To be Determined
    Contact us

    We can help!

    Listing Contact
    Chris Paszyc

    Listing agent Chris Paszyc License #ME BR913433

    Listing office The Boulos Company Portland

    Listing date Jun 21, 2022

    Source Crexi

    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 The Boulos Company Portland

    HighLights

    • Directly across the street from Central Maine Medical Center
    • Next to new small‑concept Walgreens
    • 10,692± SF total space
    • 1.43± AC lot size
    • 7,200± SF main level
    • 3,492± SF lower level

    Overview

    This property offers 10,692± square feet of space, formerly occupied by Walgreens. The layout includes approximately 7,200± square feet on the main level and an additional 3,492± square feet on the lower level. The property is situated on a 1.43± acre lot. It is located directly across the street from Central Maine Medical Center and adjacent to a new small-concept Walgreens.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Bedard Pharmacy — 61 College St, Lewiston, ME 04240
    • Thibault Lori — 300 Main St, Lewiston, ME 04240
    • Walgreens Pharmacy — 315 Main St, Lewiston, ME 04240
    • Bedard Pharmacy Inc. Lewiston — 61 College St, Lewiston, ME 04240
    • Steven Royer — 61 College St, Lewiston, ME 04240

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.2142111
    Latitude
    44.1008337

    Nearby Similar for Lease

    • $15 SF/Yr
      2,875 SF

      Retail/Office Space with Drive-Thru

      Prime retail and office spaces with high visibility and parking.
      217 Main St, Lewiston, ME
      View Details
    • $18 SF/Yr
      7,671 SF

      Lewiston Office Space For Rent

      7,671± SF office space available in Lewiston, Maine.
      5 Mollison Way, Lewiston, ME
      View Details
    • $17 SF/Yr
      25,007 SF

      Medical Office Space Available

      Class A medical office space for lease in Lewiston, Maine.
      77 Bates St, Lewiston, ME
      View Details
    • $14 SF/Yr
      2,010 SF

      Prime Office/Retail Space Available

      Class A space for lease with road frontage and high visibility.
      1896 Lisbon St, Lewiston, ME
      View Details
    • $20 SF/Yr
      1,818 SF

      Retail/Office Space on Lisbon Street

      Prime retail or office space in a high-traffic location.
      810 Lisbon St, Lewiston, ME
      View Details
    • $8 SF/Yr
      60,120 SF

      Lewiston Office Building For Sale

      60,120± SF office building on 5.97± AC available.
      19-0 Mollison Way, Lewiston, ME
      View Details
    • $9 SF/Yr
      8,505 SF

      Lewiston Warehouse Space For Rent

      Warehouse space with 19' ceilings in Lewiston, Maine.
      777 Main St, Lewiston, ME
      View Details
    • $10 SF/Yr
      104,160 SF

      Lewiston Mall Retail Spaces Available

      Retail spaces for lease in enclosed Lewiston Mall.
      20 East Ave, Lewiston, ME
      View Details
    • $7 SF/Yr
      13,035 SF

      Lewiston Warehouse and Storage Space

      Multiple heated and cold storage spaces available for lease.
      44 Strawberry Avenue, Lewiston, ME
      View Details
    • Contact for pricing
      17,796 SF

      Lewiston Industrial Building For Lease

      17,796 SF industrial building suitable for food grade manufacturing.
      20 Forrestal Street, Lewiston, ME
      View Details
    • $7 SF/Yr
      24,255 SF

      Versatile Commercial Property Available 2025

      24,000+ sq ft flex space available June 2025.
      20 Highland Spring Rd, Lewiston, ME 04240
      View Details
    • $1,800/Mo
      3,000 SF

      Centerville District Retail Opportunity

      Retail suite in a highly visible, mixed-use complex.
      37 park st, Lewiston, ME
      View Details

    FAQs

    What type of property is this?
    Drug store - 10,692± SF former Walgreens across from Central Maine Medical Center.
    Where is this drug store located?
    The property is located at 297-315 Main Street Lewiston, ME.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Directly across the street from Central Maine Medical Center; Next to new small‑concept Walgreens; 10,692± SF total space
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Paszyc
    Real Estate License ID: ME BR913433
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    297-315 Main Street, Lewiston, ME 04240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!