Professionally Maintained Office
For Sale
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129 Silver Street, Waterville, ME 04901
Corner property currently configured for financial services use with professionally landscaped grounds.
Property Size2,928 SF
Price / SF$179.30
Days on Market13
Property Features for 129 Silver Street
General Information
Standard status
Active
Size
2,928 SF
Property subtype
Office
Building Details
Year Built
1939
Buildings
1
Listing Agency:
Coldwell Banker Plourde Real Estate
Listed By:
Don Plourde · License #ME
Source:
Crexi
Added: Jul 25
Changed: Aug 3
Last Checked: Aug 5 at 11:38AM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
Built in 1939, this office building contains 2,928 square feet and is currently operating as a financial services office. The property has been maintained with professionally landscaped grounds and a well-kept exterior.
The building occupies the corner of Wilson Park and Silver Street at 129 Silver Street in Waterville, Maine. Its existing office configuration and residential conversion potential provide two documented use directions for the property.
The building occupies the corner of Wilson Park and Silver Street at 129 Silver Street in Waterville, Maine. Its existing office configuration and residential conversion potential provide two documented use directions for the property.
Key Highlights
- 2,928‑square‑foot office building constructed in 1939
- Currently operating as a financial services office
- Corner location at Wilson Park and Silver Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,391
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$827,820
$827.8K
Cap Rate 7%
$591,300
$591.3K
Cap Rate 9%
$459,900
$459.9K
Market Conditions
NOI Build-Up for 2,928 SF
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.
Gross rent
$63.2K $21.60/SF
− Vacancy
−$8.1K −$2.75/SF
EGI
$55.2K $18.85/SF
− OpEx
−$13.8K −$4.71/SF
NOI
$41.4K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$827,820
Cap Rate 7%
$591,300
Cap Rate 9%
$459,900
Alternative Uses
Best Use
Office B
$591.3K
$517.4K – $689.9K
NOI $41,391 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.37M
$3.82M – $5.10M
NOI $305,780 @ 7.0% cap · market cap 58.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner property currently configured for financial services use with professionally landscaped grounds.
Where is this office building located?
The property is located at 129 Silver Street Waterville, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,928‑square‑foot office building constructed in 1939; Currently operating as a financial services office; Corner location at Wilson Park and Silver Street
