Freestanding Retail
For Sale
$225,000
957 Sabattus St, Lewiston, ME 04240
Retail and service building with paved parking, an attached carport, and two distinct interior sections.
Property Size1,720 SF
Lot Size0.13 Acres
Price / SF$130.81
Days on Market9
Property Features for 957 Sabattus St
General Information
Standard status
Active
Size
1,720 SF
Lot size
0.13 Acres
Additional Details
Traffic Count
16,000 vehicles/day
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Androvise Realty
(207) 333-6020
Listed By:
Chad Sylvester
Source:
Soldbymichaelthomas
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 3:04PM
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 Androvise Realty
Investment Insights
Based on property information with market context.
This freestanding retail and service building contains 1,720 square feet on a 0.13-acre lot. The interior is divided into a 1,200-square-foot section with 14-foot walls and an adjoining 520-square-foot section with 10-foot walls. An attached 480-square-foot carport and paved parking lot add functional site improvements. Built in 1978, the property has previously accommodated a 2-bay garage and a dry cleaner facility.
The site records a daily traffic count of 16,000+ vehicles and is positioned near a traffic-controlled light, directly across from Family Dollar. A Phase I Environmental Site Assessment has been completed and is available with the listing.
The site records a daily traffic count of 16,000+ vehicles and is positioned near a traffic-controlled light, directly across from Family Dollar. A Phase I Environmental Site Assessment has been completed and is available with the listing.
Key Highlights
- 1,720‑square‑foot retail and service building on a 0.13‑acre lot
- 1,200‑square‑foot section with 14‑foot walls plus adjoining 520‑square‑foot section with 10‑foot walls
- Attached 480‑square‑foot carport and paved parking lot
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
$17,988
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
7.99%
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%
$359,760
$359.8K
Cap Rate 7%
$256,971
$257.0K
Cap Rate 9%
$199,867
$199.9K
Market Conditions
NOI Build-Up for 1,720 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
$31.0K $18.00/SF
− Vacancy
−$5.3K −$3.06/SF
EGI
$25.7K $14.94/SF
− OpEx
−$7.7K −$4.48/SF
NOI
$18.0K $10.46/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$359,760
Cap Rate 7%
$256,971
Cap Rate 9%
$199,867
Alternative Uses
Best Use
Retail
$257.0K
$224.9K – $299.8K
NOI $17,988 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.05M
$2.67M – $3.56M
NOI $213,839 @ 7.0% cap · market cap 95.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 37%
Electronics 5%
Cumberland Farms
Shops & Services
17,086 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,124 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,985 visits/mo
0.1 miles
Pizza Hut
Dining
3,641 visits/mo
0.2 miles
U.S. Cellular
Electronics
1,812 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Urban Garden Center — 790 Sabattus St, Lewiston, ME 04240
Frequently Asked Questions
What type of property is this?
Storefront property - Retail and service building with paved parking, an attached carport, and two distinct interior sections.
Where is this storefront property located?
The property is located at 957 Sabattus St Lewiston, ME.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,720‑square‑foot retail and service building on a 0.13‑acre lot; 1,200‑square‑foot section with 14‑foot walls plus adjoining 520‑square‑foot section with 10‑foot walls; Attached 480‑square‑foot carport and paved parking lot
