20 Highland Spring RdLewiston, ME 04240

Property Details for 20 Highland Spring Rd

Year built

1958

Lot size

2.76 AC

Property size (Sq ft)

24,255 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

LEWI M:119 L:028

APU

LEWIM119L028

Description

This exceptional commercial property in Androscoggin County offers 24,255 square feet of versatile space, ideal for a variety of businesses. The building, constructed in 1958 and renovated in 2016, boasts a blend of office and warehouse areas. The 5,400 square feet of office space includes twelve private offices and two conference rooms, providing ample room for administrative functions. The substantial 18,855 square feet of warehouse space is equipped for efficient operations, featuring ten overhead doors, a loading dock, and a truck wash bay. Twelve drive-in doors further enhance accessibility. The property sits on a 2.76-acre lot with a 271-foot frontage, providing ample space for maneuvering and parking. Parking for 50+ vehicles is available. The building is a two-story Class B structure with a 14-foot ceiling height in the warehouse area. Six bathrooms are conveniently located throughout the building. Currently leased, this property offers a unique opportunity for future occupancy beginning June 30, 2025. Its flexible layout allows for potential division to accommodate specific business needs, making it an attractive investment in a desirable location with excellent accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $5,894,812

  6.5%

  $5,441,364

  7%

  $5,052,696

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,986,279

  Geo Method

  $7,986,279

• Alternative Use

  Use

  Valuation

  Residential

  $4,589,994

  Hospitality

  $4,204,410

  Educational

  $3,498,020

  Medical

  $3,618,322

  Retail

  $5,441,364

Location Insight

City

Lewiston

County

Androscoggin

State

Maine

Latitude

44.1043

Longitude

-70.1806

CBSA code

30340

CBSA name

LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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