$175,000
( $12.69Per Sq Foot )
 $939 est/mo Sourced by Back At You

45 Water Street,Waterville, ME 04901

Waterville, ME 04901

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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.

Details

MLS #1655268
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Year1920
Days On Site181
Listing Provided ByTwo Rivers Realty, LLC | Kyle McGeechan

Features

SQ Feet13,793
BasementY
Story(s)3
ZoningCC
Acreage0.24

Interior

Interior FeaturesStorage
Heating Yes / NoYes

Exterior

RoofShingle
Foundation DetailsPoured Concrete
Lot FeaturesBusiness District
Construction MaterialsWood Frame, Clapboard, Vinyl Siding
Exterior Co ExteriorClapboard, Vinyl Siding

Parking

Parking Features5 - 10 Spaces, Paved

Utilities

SewerPublic Sewer
ElectricCircuit Breakers, Fuses

Taxes

Tax Annual Amount7262
Tax Book Number15480
Tax Year2025
Tax Lot275
Tax Map Number44

Area Information

StateME
CountyKennebec
CityWaterville
Zip Code04901
AreaKennebec
Listing VS Median (in 04901)
Price:
$175,000
low | high
Med:
$295,000
18.571428571429% of Average
sqft:
13,793
low | high
Med:
1,758
100% of Average
$ / sqft:
$13
low | high
Med:
$193
100% of Average
On site:
181
low | high
Med:
103.5
100% of Average
Sourced by Back At You

Market Activity 04901

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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.

Contact

Learn More About This Property

Wendy Tauber

Wendy Tauber

HK Realty

 (603) 502-7151wendy@h-krealty.com
StateME
CountyKennebec
CityWaterville
Zip Code04901
AreaKennebec
Listing VS Median (in 04901)
Price:
$175,000
low | high
Med:
$295,000
18.571428571429% of Average
sqft:
13,793
low | high
Med:
1,758
100% of Average
$ / sqft:
$13
low | high
Med:
$193
100% of Average
On site:
181
low | high
Med:
103.5
100% of Average
Sourced by Back At You
Listing Updated: May 19, 2026 at 6:39:52 PM PDT