Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    78 Essex St Lewiston, ME 04240-6616
    Property profile & analytics

    78 Essex St Lewiston, ME 04240-6616

    View on Map
    • Investment properties
    • 4,692 SF
    • 1.08 lot acres
    Off-Market
    Last Sale Nov 18, 2024
    $410,000
    Property ID
    US42-0776635
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marquis Signs / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 78 Essex St

    Year built
    2002
    Lot size
    1.08 lot acres
    Property size
    4,692 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    LEWI M:198 L:017
    APU
    LEWIM198L017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.2063
    Latitude
    44.0842
    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
    $6,161
    $46,320
    $159,060
    $205,380
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      20.00 Acres

      1172nd Sabattus St

      OFFICE/RESIDENTIAL (MIXED USE) • 20.00 Acres
      1172nd Sabattus St, Lewiston, ME 04240-2113
      View Details
    • Value Estimation by Request
      7,065 SF

      76 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,065 SF
      76 Walnut St, Lewiston, ME 04240-8116
      View Details
    • Value Estimation by Request
      4,227 SF

      101 Ash St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,227 SF
      101 Ash St, Lewiston, ME 04240-7126
      View Details
    • Value Estimation by Request
      10,850 SF

      112 Lisbon St

      OFFICE/RESIDENTIAL (MIXED USE) • 10,850 SF
      112 Lisbon St, Lewiston, ME 04240-7106
      View Details
    • Value Estimation
      $825,000
      29,925 SF

      215 Lisbon St

      OFFICE/RESIDENTIAL (MIXED USE) • 29,925 SF
      215 Lisbon St, Lewiston, ME 04240-7762
      View Details
    • Value Estimation by Request
      6,216 SF

      449 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,216 SF
      449 Main St, Lewiston, ME 04240-6733
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,600 SF

      Lewiston Mixed-Use Retail Opportunity

      Mixed-use property in high-traffic Lewiston corridor.
      143 Lincoln St, Lewiston, ME 04240
      View Details
    • $549,000
      4,346 SF

      Mixed-Use Investment Opportunity in Maine

      High-visibility, income-generating mixed-use property on a high-traffic commercial thoroughfare.
      199-215 Bartlett St, Lewiston, ME 04240
      View Details
    • $699,000
      1,960 SF

      Lewiston Mixed-Use Property For Sale

      Mixed-use property with home and commercial garages in Lewiston, Maine.
      1294 Sabattus St, Lewiston, ME 04240
      View Details
    • New
      $799,000
      8,220 SF

      Mixed-Use Property with Commercial Space

      Renovated mixed-use property with residential and commercial units.
      188 Lincoln Street Aly, Lewiston, ME 04240
      View Details
    • $550,000
      11,793 SF

      Multi-Use Investment Opportunity, Lewiston

      Expansive property with diverse income streams and development potential.
      715 Webster St, Lewiston, ME 04240
      View Details
    • $550,000
      11,793 SF

      Lewiston Mixed-Use Investment Opportunity

      Expansive mixed-use property with diverse income streams and development potential.
      715 Webster St, Lewiston, ME 04240
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      33 Acre Site For Lease

      33 acre site available for lease.
      23 Gendron Dr, Lewiston, ME 04240
      View Details
    • Contact for pricing

      Land Available For Lease

      Single tenant land for lease on 5 acres.
      10 Gould Rd, Lewiston, ME 04240
      View Details
    • Contact for pricing

      Versatile Commercial Property Available 2025

      24,000+ sq ft flex space available June 2025.
      20 Highland Spring Rd, Lewiston, ME 04240
      View Details
    • Contact for pricing

      Accessible Commercial Space For Rent

      Commercial space with easy highway access from Maine Turnpike.
      1219 Lisbon St, Lewiston, ME 04240
      View Details
    • Contact for pricing
      1,818 SF

      Retail/Office Space on Lisbon Street

      Prime retail or office space in a high-traffic location.
      810 Lisbon St, Lewiston, ME 04240
      View Details
    • 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

    Property Visit Statistics

    • Visits by month
      12.2k
    • Visitors by month
      8.8k
    • Avg Time on site
      20 min
    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.
    78 Essex St
    Lewiston, ME 04240-6616
    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

    Thank You for Inquiry
    78 Essex St, Lewiston, ME, 04240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!