Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Pleasant St Lewiston, ME 04240-3956

    • Commercial land
    • 14.45 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2022
    $725,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0858544
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 502 Pleasant St

    Lot size
    14.45 lot acres
    Property type
    Commercial land
    APN
    LEWI M:124 L:020
    APU
    LEWIM124L020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.1773
    Latitude
    44.0787
    CBSA code
    30340
    CBSA name
    LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,950
    $165,000
    $0.00
    $165,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      851 Lisbon St

      VACANT COMMERCIAL LAND • 0.09 Acres
      851 Lisbon St, Lewiston, ME 04240-6636
      View Details
    • Value Estimation by Request
      0.36 Acres

      574 Main St

      VACANT COMMERCIAL LAND • 0.36 Acres
      574 Main St, Lewiston, ME 04240-5933
      View Details
    • Value Estimation by Request
      0.40 Acres

      701st Main St

      VACANT COMMERCIAL LAND • 0.40 Acres
      701st Main St, Lewiston, ME 04240-5802
      View Details
    • Value Estimation by Request
      0.10 Acres

      566 Main St

      VACANT COMMERCIAL LAND • 0.10 Acres
      566 Main St, Lewiston, ME 04240-5933
      View Details
    • Value Estimation by Request
      0.29 Acres

      619 Main St

      VACANT COMMERCIAL LAND • 0.29 Acres
      619 Main St, Lewiston, ME 04240-5934
      View Details
    • Value Estimation by Request
      2.65 Acres

      1530 Main St

      VACANT COMMERCIAL LAND • 2.65 Acres
      1530 Main St, Lewiston, ME 04240-2621
      View Details

    Similar Nearby for Sale

    • $200,000

      Lewiston Land For Sale

      6.1+/- acres of commercial/industrial land with highway access.
      444 Pleasant St, Lewiston, ME 04240
      View Details
    • $749,000

      70-Acre Land Parcel in Lewiston

      70-acre parcel near downtown Lewiston with development potential.
      55 Old Lisbon Rd, Lewiston, ME 04240
      View Details
    • $65,000
      0.68 Acres

      Commercial Lot in Lewiston, ME

      Highway business zone lot available in Lewiston, Maine.
      1944 Lisbon Rd, Lewiston, ME 04240
      View Details
    • $65,000
      0.68 Acres

      Lisbon Street Commercial Lot

      Commercial land for sale on Lisbon Street, Lewiston.
      1944 Lisbon Rd, Lewiston, ME 04240
      View Details
    • $150,000
      3.84 Acres

      Lewiston Land Development Opportunity

      Three surveyed lots on Main Street, ideal for development.
      1639 Main St, Lewiston, ME 04240
      View Details
    • $90,000
      7.19 Acres

      Spacious Lewiston Lot For Sale

      7.19-acre lot near downtown Lewiston with easy Turnpike access.
      42 Dyer Rd, Lewiston, ME 04240
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Pad-Ready Site Off Maine Turnpike

      23.6 acre pad-ready site with unmatched visibility and access.
      1775 Lisbon St, Lewiston, ME 04240
      View Details
    • Contact for pricing

      Lewiston Industrial Land For Lease

      5.17-acre pad-ready site for industrial, manufacturing, and distribution.
      11 Gendron Dr, Lewiston, ME 04240
      View Details
    • Contact for pricing

      33 Acre Site For Lease

      33 acre site ideal for distribution, logistics, and trucking.
      15 Gendron Dr, Lewiston, ME 04240
      View Details
    • Contact for pricing

      Retail Development Land Available

      5.33± AC parcel for retail development near Veteran’s Bridge.
      566 Main St, Lewiston, ME 04240
      View Details
    • Contact for pricing
      20,000 SF

      Lewiston Executive Office Build-to-Suit

      Prime Lewiston office/retail space available.
      1399 Lisbon St, Lewiston, ME 04240
      View Details
    • $0.18 SF/Yr

      Lewiston, ME 5-Acre Industrial Land

      Prime Lewiston acreage, Highway Business zoning.
      10 Gould Rd, Lewiston, ME 04240
      View Details
    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.
    502 Pleasant St
    Lewiston, ME 04240-3956
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.