50 Lisbon StLewiston, ME 04240

Property Details for 50 Lisbon St

Year built

1860

Lot size

0.06 AC

Property size (Sq ft)

8,700 SF

Property type

Retail properties

Property subtype

Retail space

APN

LEWI M:207 L:083

APU

LEWIM207L083

Description

This exceptional mixed-use property at 50 Lisbon Street in Lewiston, Maine presents a unique investment opportunity. Spanning 8,700 square feet on a 0.06-acre lot, this building offers a blend of historic charm and modern functionality. The ground floor is ideally suited for a food service establishment, boasting a fully equipped kitchen featuring a three-bay sink and a Blodgett oven. Recent upgrades include a complete electrical overhaul, new lighting fixtures, and a meticulous restoration of the original hardwood floors and Art Deco windows, preserving the building's historical character. The upper two floors, currently unfinished, provide a blank canvas for creative development. Transform them into modern office spaces, stylish apartments, or a combination of both, catering to the growing demand in Lewiston's vibrant downtown. Located in a historic district, this property benefits from city incentives designed to support renovations of older buildings, making this an even more attractive proposition. A new rubber roof was installed in 2021, ensuring long-term structural integrity. Surrounded by a thriving community of restaurants and businesses, this property offers unparalleled potential for growth and return on investment. Priced at $229,995, this is an exceptional opportunity to own a piece of Lewiston's rich history and contribute to its exciting future.

• CAP approach

  CAP return

  Valuation

  6%

  $2,114,404

  6.5%

  $1,951,757

  7%

  $1,812,346

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,864,590

  Geo Method

  $2,864,590

• Alternative Use

  Use

  Valuation

  Residential

  $1,646,380

  Hospitality

  $1,508,076

  Educational

  $1,254,701

  Medical

  $1,297,852

  Retail

  $1,951,757

Location Insight

City

Lewiston

County

Androscoggin

State

Maine

Latitude

44.0979

Longitude

-70.2175

CBSA code

30340

CBSA name

LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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