Premier Office Investment Opportunity

Office for Sale
Catylist Listing ID: 30841278
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 45,817 SF
Gross Building Area: See Agent
Sale Price: $5,180,000
Unit Price: $113.06 PSF
Property Use Type: Investment
Building Name: Lewiston Gateway
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/15/2024

Overview / Comments

A tremendous opportunity to acquire a prime investment portfolio in Maine’s second largest MSA. This portfolio features stabilized revenue from leased office space, parking and a ground lease, while also offering incredible upside potential. The cornerstone building of the Lewiston Gateway is a 28,000± SF 4-story brick building that is over 75% leased. Additionally, the portfolio includes land leased to the City of Lewiston improved by a parking garage, a three-story, 18,000± SF vacant class A building and a 0.61± acre parking lot that can be redeveloped.

Additional Details

Nearest MSA: Lewiston-Auburn
County: Androscoggin
Taxing Authority: Lewiston
Tax ID/APN: 01050_196/000/009
Zoning: CV (CENTREVILLE)
Property Located Between: Less than 2 miles from I-95 exit 80
Property Visibility: Excellent
Highway Access: Less than 2 miles from I-95 exit 80
Area Description: At the entrance to Lewiston’s commercial district referred to as “Lewiston Gateway”.
Total Number of Buildings: 2
Year Built: 2004
Construction/Siding: Brick
Parking Description: 500 Canal Street - Adjacent lots and garage parking 491 Lisbon Street - Dedicated lot onsite with 20 spaces
Heat Type: Natural Gas
Heat Source: Central
Interior Description: Gas-fired heat Central A/C
Zoning Description: CV (Centreville)
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Map 196, Lot 9

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,526 48,932 61,525
Median Age: 32.52 37.14 38.51
Households: 8,847 20,804 25,977

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