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Listed by Kyle McGeechan Two Rivers Realty, LLC
$175,000
Est. payment /mo
13,793 SqFt
Active
45 Water ST Waterville, ME 04901
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 13,793 sqft
Price per Sqft $12
MLS Listing ID 1655268
HOA Y/N No
Year Built 1920
Tax Year 2025
Lot Size 10,454 Sqft
Acres 0.24
Property Sub-Type Mixed Use
Source Maine Listings
Land Area 13793
Property Description
Positioned in the heart of downtown Waterville, 45 Water Street presents a compelling value-add investment opportunity with multiple income streams and significant upside potential. This 13,793± sq ft mixed-use asset was formerly operated as a bar and entertainment venue and is primed for repositioning or redevelopment.
The ground-level commercial space offers a large open layout ideal for reactivation as a bar/restaurant, event venue, or conversion to retail, office, or multi-tenant commercial use. Its downtown location benefits from steady foot traffic and proximity to Waterville's ongoing revitalization.
The property includes two existing apartments in the attached building, providing immediate income potential. Above the commercial space are two additional floors featuring multiple rooms and two bathrooms per level, offering a clear path to additional unit creation, short-term rental conversion, workforce housing, or boutique lodging.
The property does require extensive repairs and updating, making it best suited for investors, developers, or experienced operators ready to execute a renovation or full repositioning strategy.
The ground-level commercial space offers a large open layout ideal for reactivation as a bar/restaurant, event venue, or conversion to retail, office, or multi-tenant commercial use. Its downtown location benefits from steady foot traffic and proximity to Waterville's ongoing revitalization.
The property includes two existing apartments in the attached building, providing immediate income potential. Above the commercial space are two additional floors featuring multiple rooms and two bathrooms per level, offering a clear path to additional unit creation, short-term rental conversion, workforce housing, or boutique lodging.
The property does require extensive repairs and updating, making it best suited for investors, developers, or experienced operators ready to execute a renovation or full repositioning strategy.
Location
State ME
County Kennebec
Zoning CC
Direction GPS Friendly - Formerly ''The Chez'' Bar and lounge.
Rooms
Basement Full, Unfinished
Interior
Interior Features Storage
Heating Oil, Baseboard, Hot Water
Flooring Carpet, Wood, Hardwood
Equipment Cable, Internet Access Available
Exterior
Parking Features 5 - 10 Spaces, Paved
Roof Type Shingle
Building
Lot Description Business District
Story 3
Entry Level Multi-Level
Foundation Poured Concrete
Water Public
Others
Tax ID WAVL-000044-000000-000275
Nearby Locations
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