405 Water StGardiner, ME 04345

Property Details for 405 Water St

Year built

1970

Construction

STEEL FRAME

Lot size

1.44 AC

Property size (Sq ft)

34,465 SF

Zone code

17

Property type

Office properties

Property subtype

Office buildings

APN

GARR M:037 B:001

APU

GARRM037B001

Description

This exceptional one-story, 34,465 square foot Class B office building, renovated in 2020, offers multiple suite options ranging from 2,631 to 10,804 contiguous square feet. Currently, six suites exist, with 16,250 square feet of vacant space available for lease. The building boasts a prime location in downtown Gardiner, directly on Routes 201/9, providing high visibility and easy access to the Maine Turnpike and I-295. This location offers significant advantages, being less than five minutes from major interstates and situated in a thriving community with a rich history and abundant recreational opportunities. Current tenants include established businesses such as Family Dollar, Encompass Energy, Solomon Casket, and Lifetouch, creating a strong tenant mix. The property includes 40 parking spaces and is zoned CC - Cobbossee Corridor with Shoreland Overlay (APN: 037/001 & 034/084, Kennebec County). The building features circuit breaker power, but lacks elevators. Multiple configuration options are available to suit various business needs, making this an ideal location for businesses seeking high visibility, convenient access, and a vibrant community setting. The city of Gardiner offers a blend of historical charm and modern amenities, including a waterfront park, boat launch, and easy access to Maine's coastal and mountain regions.

• CAP approach

  CAP return

  Valuation

  6%

  $5,698,094

  6.5%

  $5,259,779

  7%

  $4,884,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,503,197

  Geo Method

  $4,503,197

• Alternative Use

  Use

  Valuation

  Residential

  $6,522,126

  Hospitality

  $5,974,232

  Educational

  $4,970,491

  Medical

  $5,141,434

  Retail

  $7,731,875

Location Insight

City

Gardiner

County

Kennebec

State

Maine

Latitude

44.2301

Longitude

-69.7758

CBSA code

12300

CBSA name

AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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