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    10 Avon St Lewiston, ME 04240

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    For Sale
    Contact for pricing

    6.6-Acre Prime Lewiston Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 6.6-acre development opportunity in Lewiston, Maine, presents a unique chance to build a substantial residential project. The site boasts 800 feet of frontage overlooking the Androscoggin River, offering stunning views and immediate access to the city's planned riverfront revitalization. The property is strategically located at 10, 35 & 37 Avon St., Lewiston, ME 04240, providing excellent highway access—minutes from I-95—and proximity to major employers including Central Maine Medical Center (CMMC), St. Mary's Regional Health Center, and Bates College. With approvals and pre-development work already completed, this project is shovel-ready. The site is zoned for 244 market-rate residential units, catering to the strong housing demand fueled by Lewiston's population growth, which is more than double the state average. The area benefits from over 3,000 local healthcare jobs. Further enhancing the investment potential is a 63% tax reduction for 20 years through Tax Increment Financing (TIF), along with attractive financing options available through local and regional banks. Lewiston, the second-largest city in Maine, offers a vibrant and growing market, making this a compelling opportunity for significant returns. This is a rare chance to capitalize on a prime location with substantial pre-development work already completed.

    Property Features for 10 Avon St

    General Information

    Property type
    Land
    Lot Size
    287,496 SF

    HighLights

    • 244 permitted residential units.
    • 6.6‑acre lot size.
    • 100% market‑rate units.
    • 800 feet of frontage overlooking the Androscoggin River.
    • 10, 35 & 37 Avon St., Lewiston, ME 04240.
    • Excellent highway access; minutes from I‑95.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -70.2205778
    Latitude
    44.104467

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    FAQs

    What type of property is this?
    Land - 6.6-Acre Prime Lewiston Land
    Where is this land located?
    The property is located at 10 Avon St Lewiston, ME.
    What are key features of this property?
    This property features: 244 permitted residential units.; 6.6-acre lot size.; 100% market-rate units.
    Request Owner's contact information
    10 Avon St 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
    10 Avon St Lewiston, ME 04240
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