9 Forrestal StLewiston, ME 04240

Property Details for 9 Forrestal St

Year built

1979

Lot size

2.61 AC

Property size (Sq ft)

39,754 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

LEWI M:095 L:014

APU

LEWIM095L014

Description

This exceptional industrial warehouse property, located at 9 Forrestal St in Lewiston, Maine, presents a compelling investment opportunity. The 39,754 square foot building sits on a 2.61-acre lot, offering ample space for various industrial uses. Constructed in 1979, the structure boasts a 13-foot ceiling height, providing generous vertical clearance for storage and operations. The property is zoned I - Industrial District, ensuring flexibility for a range of industrial businesses. Convenient access to Maine Turnpike Exit 80 enhances logistical efficiency. The warehouse features four loading docks and one dock-high door, facilitating smooth and efficient loading and unloading operations. The asking price is $2,850,000, translating to a price per square foot of $71.69. This single-building property is owned by Little Red Rooster, LLC and offers a significant opportunity for businesses seeking a well-located, spacious, and functional warehouse in the Lewiston, Maine area. The property's size, location, and features make it an ideal choice for companies requiring substantial warehouse space and convenient access to major transportation routes. The substantial lot size also allows for potential expansion or future development. This is a rare opportunity to acquire a well-maintained industrial property in a thriving Maine market. The property is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $9,661,610

  6.5%

  $8,918,409

  7%

  $8,281,380

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,089,529

  Geo Method

  $13,089,529

• Alternative Use

  Use

  Valuation

  Residential

  $7,523,012

  Hospitality

  $6,891,038

  Educational

  $5,733,263

  Medical

  $5,930,438

  Retail

  $8,918,409

Location Insight

City

Lewiston

County

Androscoggin

State

Maine

Latitude

44.0784

Longitude

-70.1685

CBSA code

30340

CBSA name

LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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