191 Water StAugusta, ME 04330

Property Details for 191 Water St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

10,032 SF

Property type

Retail properties

APN

AUGU M:00034 B:00029 L:00000

APU

AUGUM00034B00029L00000

Description

This exceptional retail property, located at 191 Water Street in Augusta, Maine, presents a unique investment opportunity. The building, totaling 18,952 square feet, boasts a prime location in Kennebec County, with a 0.23-acre lot. Currently, 5,000 square feet of retail space is available for lease, ideal for expansion or a new venture. Originally constructed in 1900, the building underwent a significant renovation in 2009, ensuring modern functionality within a historic setting. The property is zoned KBD1 - KENNEBEC BUSINESS 1, allowing for a variety of commercial uses. The existing electrical service is single-phase, 200 amp. This multi-tenant building offers high visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in Augusta's vibrant commercial district. The property's blend of historical charm and modern updates creates a unique and appealing environment for tenants and customers alike. Its central location provides easy access to major transportation routes and a thriving local community. This is an excellent opportunity to secure a well-maintained, strategically located retail space in a desirable Maine market. The available space offers significant potential for growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $2,438,126

  6.5%

  $2,250,578

  7%

  $2,089,822

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,303,168

  Geo Method

  $3,303,168

• Alternative Use

  Use

  Valuation

  Residential

  $1,898,447

  Hospitality

  $1,738,967

  Educational

  $1,446,800

  Medical

  $1,496,558

  Retail

  $2,250,578

Location Insight

City

Augusta

County

Kennebec

State

Maine

Latitude

44.3166

Longitude

-69.7731

CBSA code

12300

CBSA name

AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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