Property profile

9 Westminster St Lewiston, ME 04240

OFF-MARKET
Super regional malls
Property ID
US42-0778517
61,455 SF 1.8 ac lot Built 1967
Individually Owned Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity encompasses a 2.68-acre commercial property located at 9 Westminster Street in Lewiston, Maine. The property boasts a prime location with convenient access to I-95 (Maine Turnpike) via Route 196, a major commuter route connecting Lewiston and Auburn. The portfolio consists of four lots containing multiple buildings offering a diverse mix of retail, office, and industrial spaces currently occupied by various tenants. The property features ample on-site parking to accommodate tenants and customers. The total building area spans an impressive 61,455 square feet, providing substantial space for current operations and future expansion. With over 775 linear feet of road frontage on Westminster Street, the property enjoys high visibility and accessibility. Currently, the property offers below-market rental rates, presenting a significant opportunity for increased revenue generation. Furthermore, the substantial size and versatile nature of the property offer considerable potential for redevelopment and repositioning to capitalize on the growing Lewiston-Auburn market. This is a rare chance to acquire a significant commercial holding with strong income potential and significant upside. The asking price is $2,500,000.

Property profile

Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1967
Total area 61,455 SF
Lot 1.8 ac (78,408 SF)
APN LEWI M:124 L:051
UPID US42-0778517

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Industrial Manufacturer Production Facility
  • Clothing Store

Location

9 Westminster St Lewiston, ME 04240-3531
Lewiston metro Census 20802 LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$985k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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