FOR SALE. 45 Unit Apartment Building Value-Add Investment Opportunity Jordan School Apartments Wood Street, Lewiston, Maine

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Muriel Black
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FOR SALE 45 Unit Apartment Building Value-Add Investment Opportunity Jordan School Apartments J T Leahy Real Estate has been exclusively retained to sell the Jordan School Apartment Building in

1 FOR SALE 45 Unit Apartment Building Value-Add Investment Opportunity Jordan School Apartments J T Leahy Real Estate has been exclusively retained to sell the Jordan School Apartment Building in Lewiston, Maine. The Jordan School Apartments offers investors a rare opportunity to acquire a large well-maintained, multi-family investment opportunity in excellent Central Maine location. For more information contact: Jonathan Leahy Broker Owner jon@jtleahy.com

Call For Offers Process The Jordan School Apartment Building is being offered for sale without a set asking price.

analysis, including the current and pro-forma rent rolls and historical operating expense information.

At that time, interested parties are encouraged to submit a confidential Letter of Intent detailing their qualifications, offered acquisition

Please contact listing broker for more information on group showings or to schedule a private meeting.

In 1931, the high school relocated to a new facility and the Jordan School became a junior high school, remaining that way until 1983 when,

2 Call For Offers Process The Jordan School Apartment Building is being offered for sale without a set asking price. Upon receiving a signed Confidentiality Agreement, prospective buyers will be provided a detailed Offering Memorandum with current financial analysis, including the current and pro-forma rent rolls and historical operating expense information. Scheduled tours of the building will be conducted over the next several weeks with a Call-for-Offers due September 22, At that time, interested parties are encouraged to submit a confidential Letter of Intent detailing their qualifications, offered acquisition price, any contingencies for inspections and/or financing, and proposed timeline to closing. Please contact listing broker for more information on group showings or to schedule a private meeting. History The former Jordan School building was constructed in 1902, becoming the first dedicated building for Lewiston s High School. In 1931, the high school relocated to a new facility and the Jordan School became a junior high school, remaining that way until 1983 when, over the next several years, it was completely renovated and converted to an apartment building. It is a historical building, listed on the National Register of Historic Places in The building is an incredible example of Italian Renaissance architecture, designed by famous architect William Robinson Miller ( ).

3 Property Information Property Address 19 Wood Street, Lewiston, Maine Assessor Reference - Map & Lot 194 / 000 / 251 Registry of Deeds - Book & Page 2689 / 126 Zoning NCB-Neighborhood Conservation B Land Area (acreage) 1.32 acres Assessed Values Land $ 102,600 Building $ 1,119,600 Total $ 1,222,200 Real Estate Taxes $ 33,659 (2017) Mill Rate $27.54 per $1,000 Total Gross SF (incl. basement) 57,632 (14,408 per floor) Year Built 1902, Renovated 1986 Construction Brick & Granite Masonry Windows Aluminum & Vinyl Heating System Individual Furnaces each unit previously sub-metered, currently one meter, landlord paid Hot Water 12 hot water tanks, gas (10 new in 2016) Roof Sprinkler System Fire Alarm System Elevator Parking Modified torch-down ply system, re-coated 2017 Yes, wet system throughout/dry in attic Centrally Monitored 1 passenger elevator, 4-floors On-site, paved parking NET OPERATING INCOME $200, (current) Pro-Forma NOI $280,316.61

Lewiston, Maine Located just 40 minutes from Downtown Portland, Lewiston-Auburn is one of Maine s thriving economic hubs, centrally

The Twin Cities of Lewiston-Auburn have a rich history, including having served at one time as the shoe and textile capital of the

Mary s Regional Medical Center, and the University of Southern Maine s Lewiston- Auburn Campus.

4 Lewiston, Maine Located just 40 minutes from Downtown Portland, Lewiston-Auburn is one of Maine s thriving economic hubs, centrally located in the heart of Southern Maine with nearly 50% of the state s population located within a 30-mile radius. The Twin Cities of Lewiston-Auburn have a rich history, including having served at one time as the shoe and textile capital of the Northeast. Lewiston is the home to Bates College, Central Maine Medical Center, St. Mary s Regional Medical Center, and the University of Southern Maine s Lewiston- Auburn Campus. Lewiston-Auburn has earned national recognition for its business climate with leading employers in the area including TD Bank, Bates College, Proctor & Gamble, General Electric, LL Bean, Walmart Distribution Kellogg s Snack, McKesson, Carbonite, and Liberty Mutual.

5 Jordan School 45 Unit Apartment Building Value-Add Investment Opportunity

6 Jordan School 45 Unit Apartment Building Value-Add Investment Opportunity

7 Jordan School 45 Unit Apartment Building Value-Add Investment Opportunity

8 Jordan School 45 Unit Apartment Building Value-Add Investment Opportunity

OFFICE BUILDING 1775 LISBON STREET Lewiston, ME 04240

OFFICE BUILDING 1775 LISBON STREET Lewiston, ME 04240 PROPERTY SUMMARY 104,810± sf office building located on Lisbon Street in Lewiston, less than 2 miles from Maine Turnpike Exit 80. ++Open floor plan with systems furniture in place ++On-site parking - five