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    32 Water Street Lubec, ME 04652

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    For Sale
    $849,000

    COMMERCIAL - Lubec, ME

    Property size:
    5,000 SF
    Lot size:
    0.20 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    75
    Last Refresh:
    Apr 18 at 2:06 am

    Property Features for 32 Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Basement
    Full
    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5719

    We can help!

    Listing Contact
    Jason Clark
    Jason Clark

    Listing agent Jason Clark

    Listing office Coldwell Banker Realty 11 Main St Ste 4, Saco, ME

    Listing date Feb 2, 2026

    MLS# 1625288

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Commercial Space with Ocean Views

    This renovated property offers a blend of commercial and residential space, featuring exposed beams and modernized kitchens and bathrooms. The open concept design promotes creativity and comfort. The property includes street-level commercial space and ocean-side living quarters, presenting a versatile space for various uses. Part of the first floor is currently occupied by the West Quoddy Head Lighthouse Station Keepers Association. An expansive outdoor deck provides views of Lubec Narrows, Campobello Island, and Mulholand Lighthouse. Located in Lubec, a coastal community known for its historical sites, art galleries, and dining, the property offers potential for business and vacation rentals. The property size is 5000 square feet, situated on a 0.2-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

    Restaurant Building Supply Hotel & Motel Kitchen & Bath Showroom HVAC Service Food Market Grocery & Convenience Store Bar & Pub Garden Center Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubec
    County
    Washington
    State
    Maine
    Longitude
    -66.9834475
    Latitude
    44.8612475

    Nearby Similar for Sale

    • $634,900
      1,840 SF

      Renovated Multi-Use Commercial Building

      Multi-use commercial building with panoramic views and modern amenities.
      6 School Street, Lubec, ME 04652
      View Details
    • $770,000
      5,400 SF

      Established Brewery in Growing Coastal Town

      Profitable brewery with taproom, equipment, and expansion potential.
      41 Water Street, Lubec Maine, Lubec, ME 04652
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Unique mixed-use property in Lubec with commercial space and living.
    Where is this mixed-use property located?
    The property is located at 32 Water Street Lubec, ME.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: Completely renovated property with **modernized kitchens and bathrooms.**; **Street‑level commercial space with ocean views.**; **Expansive outdoor deck with views** of Lubec Narrows, Campobello Island, and Mulholand Lighthouse.
    (207) 608-5927
    We can help!
    Listing Contact
    Jason Clark
    Jason Clark
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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