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Walgreens Investment Sale 430 Sabattus St 13,000 SF Retail Building Lewiston, ME 04240 $3,300,000 ($253.85/SF) 7.26% Cap Rate
Investment Highlights
- Walgreens renewed in 2023 extending for a 12 year term and added 3, 5 year options with 5% rent increases, indicating strong store performance
- Strong in-place rent
- Close proximity to Bates College
- Minimal Landlord obligations - Roof was replaced in 2025
- Close proximity to St Mary's Regional Health System
- Highly visible corner lot at a lit intersection at Sabattus Street and East Ave.
Executive Summary
Walgreens - 430 Sabattus Street - Lewiston, ME
Net-Leased Retail Investment Adjacent to Bates College
430 Sabattus Street is a well-located Walgreens in Lewiston, Maine, positioned along one of the city’s key commercial corridors with traffic counts of approximately 16,000 cars per day. The property benefits from strong daily visibility and convenient access for neighborhood residents, commuters, and the nearby campus community.
A major driver of consistent customer traffic is Bates College, located just a short distance from the store. Bates is a nationally recognized private liberal arts college with over 1,800 undergraduate students, faculty, and staff on campus. The college’s stable enrollment and year-round activity provide a built-in base of repeat customers for pharmacy, health, and convenience needs.
St. Mary’s Regional Hospital, a full-service regional hospital servicing thousands of patients annually from the Greater Lewiston-Auburn area is also proximate to this location and serves as stable source of customers.
This combination of high daily traffic, proximity to a respected higher-education institution, and established national tenancy makes 430 Sabattus Street a compelling net-leased retail investment in the Lewiston-Auburn market.
Net-Leased Retail Investment Adjacent to Bates College
430 Sabattus Street is a well-located Walgreens in Lewiston, Maine, positioned along one of the city’s key commercial corridors with traffic counts of approximately 16,000 cars per day. The property benefits from strong daily visibility and convenient access for neighborhood residents, commuters, and the nearby campus community.
A major driver of consistent customer traffic is Bates College, located just a short distance from the store. Bates is a nationally recognized private liberal arts college with over 1,800 undergraduate students, faculty, and staff on campus. The college’s stable enrollment and year-round activity provide a built-in base of repeat customers for pharmacy, health, and convenience needs.
St. Mary’s Regional Hospital, a full-service regional hospital servicing thousands of patients annually from the Greater Lewiston-Auburn area is also proximate to this location and serves as stable source of customers.
This combination of high daily traffic, proximity to a respected higher-education institution, and established national tenancy makes 430 Sabattus Street a compelling net-leased retail investment in the Lewiston-Auburn market.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$239,565
|
$18.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$239,565
|
$18.43
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $239,565 |
| Annual Per SF | $18.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $239,565 |
| Annual Per SF | $18.43 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Building Size
13,000 SF
Building Class
C
Year Built
1998
Price
$3,300,000
Price Per SF
$253.85
Cap Rate
7.26%
NOI
$239,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.58 AC
Opportunity Zone
Yes
Zoning
CB - Commercial Business Zoning District
Parking
30 Spaces (2.62 Spaces per 1,000 SF Leased)
Frontage
204’ on Sabattus St
Amenities
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | LEWI-000173-000000-000089 | Improvements Assessment | $816,500 |
| Land Assessment | $501,980 | Total Assessment | $1,318,480 |
Property Taxes
Parcel Number
LEWI-000173-000000-000089
Land Assessment
$501,980
Improvements Assessment
$816,500
Total Assessment
$1,318,480
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Walgreens Investment Sale | 430 Sabattus St
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