Mixed-Use Office Suites with
120 Drummond Avenue Waterville, ME 04901
For Sale
$325,000
COMMERCIAL - Waterville, ME
Property Size2,908 SF
Lot Size1.92 Acres
Price / SF$111.76
Days on Market49
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
Space Heater, Propane (Heating), Electric (Heating), Heat Pump (Heating), Hot Water(Heating), Baseboard, Oil
Cooling system
Heat Pump
Water source
Well
Building Details
Year built
1976
Flooring type
Carpet, Vinyl, Concrete
Building materials
Metal Clad
Roof type
Metal
Listing Agency:
Coldwell Banker Plourde Real Estate
(207) 872-7650
Listed By:
Donald Plourde
(207) 861-2462
Added: Jun 11
Changed: Jul 11
Last Checked: Jul 29 at 1:06AM
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.
Investment Insights
Based on property information with market context.
This commercial property on 1.92 acres was formerly used as an American Legion Hall and is configured with three private office/mixed-use suites. The building also includes a spacious outdoor canopy that can accommodate gatherings and events, giving the site flexibility beyond traditional office space. The versatile layout supports a range of office, event, community, and special-use concepts for a new owner.
The property is located at 120 Drummond Avenue in Waterville, Maine, in a zoning designation of IND. It is offered for sale with listing disclosures noting that taxes are currently low due to the non-profit status of the occupant, with actual taxes to be determined.
For tenants and buyers seeking adaptable space, the combination of multiple private suites and an outdoor canopy may fit operators that need both enclosed work areas and space for meetings, presentations, or community-oriented programming. This is a straightforward option to reposition a previously operated hall into a new business or special-use environment, with the existing suite layout providing a practical starting point.
The property is located at 120 Drummond Avenue in Waterville, Maine, in a zoning designation of IND. It is offered for sale with listing disclosures noting that taxes are currently low due to the non-profit status of the occupant, with actual taxes to be determined.
For tenants and buyers seeking adaptable space, the combination of multiple private suites and an outdoor canopy may fit operators that need both enclosed work areas and space for meetings, presentations, or community-oriented programming. This is a straightforward option to reposition a previously operated hall into a new business or special-use environment, with the existing suite layout providing a practical starting point.
Key Highlights
- Commercial property on 1.92 acres, formerly home to the American Legion Hall
- Three private office/mixed‑use suites with a versatile layout
- Spacious outdoor canopy for gatherings and events
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.0k | $9.96 |
| − Vacancy | −$721 | −$0.25 |
| EGI | $28.2k | $9.71 |
| − OpEx | −$9.9k | −$3.40 |
| NOI | $18.4k | $6.31 |
2,908 SF · lease $9.96/SF/yr · vacancy 2.49% · expense 35.00%
Alternative Uses
Best Use
Industrial
$3.57M
$3.13M – $4.17M
NOI $250,099 @ 7.0% cap · market cap 76.95%
Second Best
Office B
$587.3K
$513.9K – $685.1K
NOI $41,108 @ 7.0% cap · market cap 12.65%
Theoretical Best
Warehouse
$4.34M
$3.80M – $5.06M
NOI $303,692 @ 7.0% cap · market cap 93.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Three private office/mixed-use suites plus a spacious outdoor canopy supports office and community-style uses.
Where is this office units located?
The property is located at 120 Drummond Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Commercial property on 1.92 acres, formerly home to the American Legion Hall; Three private office/mixed‑use suites with a versatile layout; Spacious outdoor canopy for gatherings and events
