675 Main St Lewiston, ME 04240-5802

This exceptional value-add opportunity presents a 49,000 square foot shopping center in Lewiston, Maine, boasting a 10.31% cap rate and a strong NOI of $451,099. The property, built in 1955 and extensively renovated in 2020, features 22 tenants representing a diverse mix of retail, office, service, and industrial businesses. Located at a highly visible, signalized intersection on Route 202 (Main Street), a busy retail and commuter corridor, the property benefits from over 16,000 vehicles per day. Key tenants include Sam's Italian Foods (with a land lease), Banner Doors, Boulet Chiropractic, Jade Garden, and Sherm Arnold's Flooring, Kitchen & Bath. Recent improvements include new roofs, pavement, exterior paint, treeline management, and a new roof and siding for the rooftop storage unit. A new demising wall and 10-foot drive-in bay enhance the warehouse space. The property sits on a 5.32-acre lot and is zoned CB and NCA. Current leases are gross, presenting a significant value-add opportunity through conversion to NNN leases and gradual rent increases. Current rents are estimated to be 25% below market value. Financial statements are available upon request. The property offers a compelling investment prospect with substantial upside potential.