Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Drummond Avenue Waterville, ME 04901

    View on Map
    Claim this Listing
    New
    For Sale
    $359,900

    COMMERCIAL - Waterville, ME

    Property size:
    2,908 SF
    Lot size:
    1.92 Acres
    Price / SF:
    $123/SF
    Added:
    Apr 28, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 29 at 1:06 am

    Property Features for 120 Drummond Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    IND
    Standard status
    Active
    Size
    2,908 SF
    Lot size
    1.92 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Space Heater, Baseboard, Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Well

    Building Details

    Year built
    1976
    Flooring type
    Concrete, Carpet, Vinyl
    Building materials
    Metal Clad
    Roof type
    Metal

    We can help!

    Listing Contact
    Donald Plourde
    Donald Plourde

    Listing agent Donald Plourde

    Listing office Coldwell Banker Plourde Real Estate 143 Silver Street, Waterville, ME

    Listing date Apr 28, 2026

    MLS# 1646806

    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

    Versatile Commercial Property in Waterville

    This commercial property, situated on 1.92 acres in Waterville, Maine, was formerly the American Legion Hall. The 2,908 square foot property features three private office/mixed-use suites and a spacious outdoor canopy suitable for gatherings and events. The site's versatile layout offers potential for office, event, community, or special-use purposes. The property is zoned IND. The property taxes are currently low due to the non-profit status of the occupant; actual taxes are to be determined.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allied Health Advantage Orthotics & Prosthetics Service Matrix minerals (Bike/Boat/Book/etc) Store MATS WATERVILLE Social Service Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.6248307
    Latitude
    44.573142

    Nearby Similar for Sale

    • $499,000
      10,287 SF

      Waterville Commercial Office Opportunity

      Spacious office building in Waterville with ample parking.
      44-46 Elm Street, Waterville, ME 04901
      View Details
    • $650,000
      13,413 SF

      Downtown Waterville Commercial Building

      Four-story mixed-use building in downtown Waterville.
      99 Main Street, Waterville, ME 04901
      View Details
    • $229,900
      6,211 SF

      Multi-Tenant Office Building in Waterville

      Fully occupied office building near downtown Waterville with ample parking.
      2 Park Street, Waterville, ME 04901
      View Details
    • $550,000
      3,493 SF

      Iconic Colonial Multi-Family Homestead

      Charming 5-bedroom multi-family home on 2.43 acres.
      91 W River Road, Waterville, ME 04901
      View Details
    • $1,800,000
      11,250 SF

      Well-Maintained Office Building For Sale

      Visible office building on Kennedy Memorial Drive in Waterville, Maine.
      244 Kennedy Memorial Drive, Waterville, ME 04901
      View Details
    • $439,900
      2,800 SF

      Waterville Duplex with Remodeled Unit

      Well-maintained Waterville duplex featuring remodeled unit and recent upgrades.
      50 Louise Avenue, Waterville, ME 04901
      View Details
    • $49,900
      893 SF

      Waterville Commercial Condo For Sale

      Professional condo in Waterville, Maine, with owner financing available.
      325 Kennedy Memorial Drive, Waterville, ME 04901
      View Details
    • $399,900
      4,664 SF

      Versatile Property with Income Potential

      High-visibility property suitable for professional or medical uses with rental income.
      166 Silver Street, Waterville, ME 04901
      View Details
    • $275,000
      3,566 SF

      Waterville Mixed-Use Building For Sale

      Three-unit building with commercial space in established Waterville neighborhood.
      40 Ticonic Street, Waterville, ME 04901
      View Details
    • $275,000
      3,566 SF

      Waterville Mixed-Use Building For Sale

      Three-unit building in established neighborhood, potential for various commercial uses.
      40 Ticonic Street, Waterville, ME 04901
      View Details
    • $330,000
      2,395 SF

      Turnkey Duplex Near Downtown Waterville

      Updated duplex with income potential, near colleges and downtown.
      22 Ash Street, Waterville, ME 04901
      View Details
    • $224,900
      2,556 SF

      Waterville Colonial Multifamily Investment Property

      Well-maintained three-unit building in a convenient residential area.
      32-34 Gold Street, Waterville, ME 04901
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 1.92-acre commercial property with office suites and outdoor canopy.
    Where is this mixed-use property located?
    The property is located at 120 Drummond Avenue Waterville, ME.
    What is the asking price?
    The asking price for this property is $359,900.
    What are key features of this property?
    This property features: 1.92 acre lot offers significant space and potential for various uses.; Three private office/mixed‑use suites provide flexible interior space.; Spacious outdoor canopy is ideal for gatherings and events.
    (207) 861-2462
    We can help!
    Listing Contact
    Donald Plourde
    Donald Plourde
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!