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    241 Water St Hallowell, ME 04347

    For Sale
    $275,000

    Prime Downtown Location, 1130 sq ft

    Property size:
    1,130 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional commercial property at 241 Water Street in Hallowell, Maine, offers unparalleled visibility with 180 feet of prime road frontage. The two-story, 1,130 square foot building boasts a desirable downtown location on a 0.43-acre lot. The interior comprises two rooms on each floor, complemented by a convenient half-bath located upstairs. Additional features include a practical mudroom, a spacious walk-in closet, and efficient hot water baseboard heating. The property is beautifully landscaped and includes a pre-installed storm basin, simplifying potential future development. Comprehensive elevation designs and a full survey are already completed, streamlining the process for prospective buyers. This property presents a unique opportunity: continue operating an existing business in this established location or leverage the existing structure and completed site work to develop new units. The strategic location and existing infrastructure make this a truly remarkable investment opportunity in the heart of Hallowell.

    Property Features for 241 Water St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,130 SF
    Lot Size
    18,731 SF

    Building Details

    Year Built
    1865
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Positive High Dispensary Cannabis Store Masciadri Accounting & Income Tax Preparation Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hallowell
    County
    Kennebec
    State
    Maine
    Longitude
    -69.79256
    Latitude
    44.28128

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Downtown Location, 1130 sq ft
    Where is this commercial real estate located?
    The property is located at 241 Water St Hallowell, ME.
    What is the asking price?
    The asking price for this property is $275,000.
    (207) 622-2220
    Request Owner's contact information
    241 Water St Hallowell, ME 04347
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    Hallowell, ME 04347
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    Realmo Value Estimation

    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.

    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.

    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
    241 Water St Hallowell, ME 04347
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