Mixed-Use Building with Four
For Sale
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11 Water Street, Damariscotta, ME 04543
Four upgraded rental units with waterfront decks, positioned for restaurant and mixed-use flexibility in downtown Damariscotta.
Property Size2,364 SF
Price / SF$444.16
Days on Market58
Property Features for 11 Water Street
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Hospitality, Mixed Use, Special Purpose
Building Details
Year Built
1803
Listing Agency:
Newcastle Realty
Listed By:
Dennis Hilton · License #ME DB921838
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 5 at 4:01AM
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 Newcastle Realty
Investment Insights
Based on property information with market context.
This distinctive building began as the schoolhouse in Sheepscot Village and was relocated to the riverfront in Damariscotta in the 1950s. It was enlarged and later served as a Christian Science Church until 2010. After extensive renovations in 2011, the property was updated to accommodate restaurant Savory Maine and now provides four separate units: three one-bedroom apartments and one studio. A dormer and two skylights were added to transform the former unfinished attic into a bright one-bedroom apartment, while the church office was converted into the studio unit.
The property features two expansive waterfront decks and a full sprinkler system. Recent improvements include replaced electrical wiring and plumbing, Airkrete insulation throughout the exterior walls, roof, and between floors, mini-split heat pumps in all units, and a new roof with updated fascia boards and gutters. It is located adjacent to a large public parking lot, in a highly visible, convenient in-town setting in the heart of downtown Damariscotta.
With its current four-unit configuration and the stated flexibility to support commercial or mixed-use concepts, the building can fit buyers and operators seeking a mixed-use setup with multiple independent residences. The combination of substantial capital upgrades and adaptable layout supports a practical range of uses consistent with the property’s history as both a restaurant and lodging-style space.
The property features two expansive waterfront decks and a full sprinkler system. Recent improvements include replaced electrical wiring and plumbing, Airkrete insulation throughout the exterior walls, roof, and between floors, mini-split heat pumps in all units, and a new roof with updated fascia boards and gutters. It is located adjacent to a large public parking lot, in a highly visible, convenient in-town setting in the heart of downtown Damariscotta.
With its current four-unit configuration and the stated flexibility to support commercial or mixed-use concepts, the building can fit buyers and operators seeking a mixed-use setup with multiple independent residences. The combination of substantial capital upgrades and adaptable layout supports a practical range of uses consistent with the property’s history as both a restaurant and lodging-style space.
Key Highlights
- Four separate rental units: three 1‑bedroom apartments and one studio in a building originally built as a schoolhouse in 1803
- 2011 renovation for restaurant use, including dormer and two skylights to create a bright 1‑bedroom apartment and converting the church office to a studio apartment
- Two expansive waterfront decks plus all electrical wiring and plumbing replaced during the renovations
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 04543, ME
2,297
Population
1,339
Households
1.7
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
12.4 sq mi
ZIP Area
185
Density / Sq Mi
$59,659
Median Household Income
$31,474
Median Earnings
$974
Median Rent
$333,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four upgraded rental units with waterfront decks, positioned for restaurant and mixed-use flexibility in downtown Damariscotta.
Where is this quadplex located?
The property is located at 11 Water Street Damariscotta, ME.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four separate rental units: three 1‑bedroom apartments and one studio in a building originally built as a schoolhouse in 1803; 2011 renovation for restaurant use, including dormer and two skylights to create a bright 1‑bedroom apartment and converting the church office to a studio apartment; Two expansive waterfront decks plus all electrical wiring and plumbing replaced during the renovations
