715 Webster St Lewiston, ME 04240
Estimated payment $3,592/month
Highlights
- Above Ground Pool
- No HOA
- Cooling System Mounted To A Wall/Window
- 1.24 Acre Lot
- Bathtub
- Level Entry For Accessibility
About This Home
INVESTMENT OPPORTUNITY! Incredible investment opportunity offering flexible multi-use space and a variety of income streams! This expansive property boasts over 11,000 square feet and is currently configured with two residential units—one 1-bedroom unit and one 3-bedroom unit—alongside a convenience store, a restaurant, and a bakery occupying the ground floor. Additional features include 4 individual band spaces and 3 functional commissary kitchens, all currently rented, making this an excellent opportunity for investors seeking immediate cash flow.
Zoned for multiple permitted uses, the possibilities here are extensive. In addition to keeping the current layout, the property is approved for a family or small home daycare, religious facilities, home occupations, single or two-family residences, bed and breakfast operations, or accessory dwelling units, all in accordance with the flexible standards of Article XII. Whether you're looking for a live/work situation or a long-term income-generating portfolio piece, this property delivers. The lot is generous and offers development potential—build your dream home separately or expand the current structure to suit your needs. With parking in both the front and rear, there's plenty of room for customers, clients, or tenants. The location, size, and diverse capabilities make this an unmatched investment opportunity ready to support a variety of business ventures or residential lifestyles. Also listed as Commercial MLS #1581679
Listing Agent
Better Homes & Gardens Real Estate/The Masiello Group Listed on: 02/22/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,239
Year Built
- Built in 1975
Lot Details
- 1.24 Acre Lot
- Level Lot
- Open Lot
Home Design
- Concrete Foundation
- Block Foundation
- Wood Frame Construction
- Shingle Roof
- Rolled or Hot Mop Roof
- Membrane Roofing
- Wood Siding
- Block Exterior
- Concrete Perimeter Foundation
Interior Spaces
- 11,793 Sq Ft Home
- 2-Story Property
- Laundry on upper level
Flooring
- Carpet
- Laminate
- Concrete
- Tile
- Vinyl
Bedrooms and Bathrooms
- 3 Full Bathrooms
- Bathtub
- Shower Only
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Parking
- Driveway
- Paved Parking
- On-Site Parking
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Heating System Uses Oil
- Heat Pump System
- Baseboard Heating
- Hot Water Heating System
- Internet Available
Additional Features
- Level Entry For Accessibility
- Above Ground Pool
Listing and Financial Details
- Tax Lot 060
- Assessor Parcel Number LEWI-000123-000000-000060
Community Details
Overview
- No Home Owners Association
- 2 Units
Amenities
- Community Storage Space
Building Details
- Operating Expense $36,704
- Gross Income $39,325
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $9,184 | $289,080 | $45,800 | $243,280 |
| 2023 | $8,672 | $289,080 | $45,800 | $243,280 |
| 2022 | $8,239 | $289,080 | $45,800 | $243,280 |
| 2021 | $8,169 | $289,080 | $45,800 | $243,280 |
| 2020 | $8,288 | $289,080 | $45,800 | $243,280 |
| 2019 | $8,357 | $289,080 | $45,800 | $243,280 |
| 2018 | $8,288 | $289,080 | $45,800 | $243,280 |
| 2017 | $8,100 | $289,080 | $45,800 | $243,280 |
| 2016 | $7,961 | $289,080 | $45,800 | $243,280 |
| 2015 | $7,912 | $289,080 | $45,800 | $243,280 |
| 2014 | $7,687 | $289,080 | $45,800 | $243,280 |
| 2013 | $7,511 | $284,080 | $40,800 | $243,280 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/15/2025 09/15/25 | Price Changed | $550,000 | -15.4% | $47 / Sq Ft |
| 04/16/2025 04/16/25 | Price Changed | $650,000 | -6.5% | $55 / Sq Ft |
| 10/31/2024 10/31/24 | Price Changed | $695,000 | -7.3% | $59 / Sq Ft |
| 02/22/2024 02/22/24 | For Sale | $750,000 | +319.0% | $64 / Sq Ft |
| 07/23/2015 07/23/15 | Sold | $179,000 | -28.4% | $15 / Sq Ft |
| 05/11/2015 05/11/15 | Pending | -- | -- | -- |
| 08/10/2014 08/10/14 | For Sale | $249,900 | -- | $21 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $183,200 | New Conventional | |
| Closed | $180,000 | Commercial |
Source: Maine Listings
MLS Number: 1582751
APN: LEWI-000123-000000-000060
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