211 Water StAugusta, ME 04330

Property Details for 211 Water St

Year built

1898

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

7,750 SF

Property type

Office buildings

APN

AUGU M:00034 B:00031 L:00000

APU

AUGUM00034B00031L00000

Description

This exceptional five-story building, located at 211 Water Street in Augusta, Maine's historic Water Street District, offers a unique blend of commercial and residential opportunities. Boasting a total of 20,800 square feet on a 0.18-acre lot, this property presents significant upside. The ground floor encompasses approximately 7,113 square feet, currently leased to SGC Engineering under a triple-net lease (NNN). This provides immediate and stable income. Above the ground floor are two sizable, approximately 3,000 square foot floors, currently in shell condition, presenting a prime opportunity for residential conversion. These upper floors offer expansive potential for multifamily development, capitalizing on the desirable downtown location and stunning Kennebec River views. The building benefits from numerous recent mechanical and structural improvements, ensuring a solid foundation for future endeavors. Zoned KBD1 - KENNEBEC BUSINESS 1, this property is ideally situated in a vibrant and growing area. The asking price for this remarkable mixed-use investment is $800,000. Don't miss this chance to acquire a prime piece of Augusta real estate with significant income potential and substantial upside.

• CAP approach

  CAP return

  Valuation

  6%

  $1,281,306

  6.5%

  $1,182,744

  7%

  $1,098,263

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,012,615

  Geo Method

  $1,012,615

• Alternative Use

  Use

  Valuation

  Residential

  $1,466,603

  Hospitality

  $1,343,401

  Educational

  $1,117,694

  Medical

  $1,156,133

  Retail

  $1,738,634

Location Insight

City

Augusta

County

Kennebec

State

Maine

Latitude

44.3161

Longitude

-69.7733

CBSA code

12300

CBSA name

AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].