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 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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