Brick Mixed-Use
107 Water Street, Hallowell, ME 04347
For Sale
$675,000
A ground-floor retail space with four residential apartments above is fully occupied.
Property Size4,497 SF
Price / SF$150.10
Days on Market422
Property Features for 107 Water Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Mixed-Use Components
Sprinkler System
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Buildings
Construction
Tenancy
Listing Agency:
NextHome Northern Lights Realty
(207) 558-8811
Listed By:
Mark Young
(207) 624-2483
Source:
Integrityhomesrealestategroup
Added: Sep 16, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NextHome Northern Lights Realty
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Investment Insights
Based on property information with market context.
This renovated brick property combines a street-level storefront with four apartments on the upper floor. The retail space includes a kitchenette and an ADA-compliant half bath. Each apartment has one bedroom and one bathroom, and the building is fully rented.
Interior details include exposed ceiling beams and wood trim. Building systems include a Buderus heating system and sprinkler coverage throughout. The property is in Hallowell’s downtown district and is zoned Downtown.
Interior details include exposed ceiling beams and wood trim. Building systems include a Buderus heating system and sprinkler coverage throughout. The property is in Hallowell’s downtown district and is zoned Downtown.
Key Highlights
- Four upper‑floor apartments, each with one bedroom and one bathroom
- Ground‑floor storefront includes a kitchenette and ADA‑compliant half bath
- Fully rented building in downtown Hallowell
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,392
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,840
$927.8K
Cap Rate 7%
$662,743
$662.7K
Cap Rate 9%
$515,467
$515.5K
Market Conditions
NOI Build-Up for 4,497 SF
Gross rent
$80.9K $18.00/SF
− Vacancy
−$6.7K −$1.49/SF
EGI
$74.2K $16.51/SF
− OpEx
−$27.8K −$6.19/SF
NOI
$46.4K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,840
Cap Rate 7%
$662,743
Cap Rate 9%
$515,467
Alternative Uses
Best Use
Mixed Use
$662.7K
$579.9K – $773.2K
NOI $46,392 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$625.8K
$547.6K – $730.1K
NOI $43,808 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,468 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Kennebec County, ME
Properties on Market for Mixed-use properties in Kennebec County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor retail space with four residential apartments above is fully occupied.
Where is this mixed-use property located?
The property is located at 107 Water Street Hallowell, ME.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four upper‑floor apartments, each with one bedroom and one bathroom; Ground‑floor storefront includes a kitchenette and ADA‑compliant half bath; Fully rented building in downtown Hallowell
