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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Commercial land
297 Main St Lewiston, ME 04240-7025
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US42-0778184
Property summary
AI-generated overview
This exceptional 10,692 square foot, two-story commercial building in Lewiston, Maine, presents a compelling investment opportunity. Located at 297 Main St, this Class B property sits on a 1.43-acre lot (APN 194/477 & 195/49) and boasts a desirable Community Business (CB) zoning. Originally a Walgreens, the building features a spacious 7,200 square foot main level and a 3,492 square foot lower level. Built in 1966, the property benefits from high visibility and traffic counts exceeding 17,000 vehicles daily, situated directly across from Central Maine Medical Center. The asking price is $2,000,000, translating to $187.06 per square foot. Potential uses include medical, office, or retail spaces, with lease rates estimated at $12.00 to $15.00 per square foot, NNN. This property offers significant redevelopment potential in a thriving Maine location. The property is owned by TIIP Lewiston LLC.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
0.32 ac (13,939 SF)
APN
LEWI M:195 L:049
UPID
US42-0778184
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nappi Terri Employment Agency
-
Leong K C MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
T 2 P Lewiston LLC · 4 yrs held
T 2 P Lewiston LLC
since 2022
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lewiston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lewiston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,160,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10% · vs last sale $1.60M (Jan 28 2022)
Last sale anchor
$1.60M
Jan 28 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,686
Tax year 2023
Assessed value
$122,880
Assessed 2023
Previous assessed
$122,880
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$122,880
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Lot
0.32 ac (13,939 SF)
APN
LEWI M:195 L:049
UPID
US42-0778184
Jurisdiction
LEWISTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
0.32 ac
Current owner
From public records · entity-resolved
T 2 P Lewiston LLC
Entity
Mailing address
297 MAIN ST, LEWISTON, ME 04240-7025
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2022
$1,600,000
T 2 P Lewiston LLC
Lewiston Realty LP
Quit Claim Arm's Length For Ne States
$1,351,085 · Servisfirst Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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