Professionally Maintained Office
For Sale
$499,500
129 Silver Street, Waterville, ME 04901
Commercial Sale, Waterville, ME
Property Size2,928 SF
Lot Size0.53 Acres
Price / SF$170.59
Days on Market47
Property Features for 129 Silver Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CZD
Rooms
Basement
Parking features
Off Street
Basement
Full, Finished
Lot features
Business District
Standard status
Active
Size
2,928 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6443
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Heat Pump (Heating), Baseboard, Electric (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1939
Flooring type
Hardwood, Laminate
Building materials
Masonry, Brick
Roof type
Fiberglass, Shingle
Listing Agency:
Coldwell Banker Plourde Real Estate · Coldwell Banker Real Estate
(207) 872-7650
Listed By:
Donald Plourde
(207) 861-2462
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 8 at 4:06AM
MLS# 1673371
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 2,928-square-foot office building was constructed in 1939 and is currently operating as a financial services office. Masonry and brick construction, hardwood and laminate flooring, central air, heat pump cooling, and multiple heating systems provide a durable commercial setting. The property also includes a basement, shingle and fiberglass roofing, and off-street parking.
Set on 0.53 acres, the property is served by public water and public sewer and is zoned CZD. The professionally maintained grounds and landscaped setting support a polished office presentation. The building may also be converted back to residential use, subject to applicable approvals.
Set on 0.53 acres, the property is served by public water and public sewer and is zoned CZD. The professionally maintained grounds and landscaped setting support a polished office presentation. The building may also be converted back to residential use, subject to applicable approvals.
Key Highlights
- 2,928‑square‑foot office building constructed in 1939
- 0.53‑acre property with professionally landscaped grounds
- Masonry and brick construction with hardwood and laminate flooring
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
8.29%
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 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.37M
$3.82M – $5.10M
NOI $305,780 @ 7.0% cap · market cap 61.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Masonry office property with hardwood and laminate flooring, central air, and off-street parking.
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 $499,500.
What are key features of this property?
This property features: 2,928‑square‑foot office building constructed in 1939; 0.53‑acre property with professionally landscaped grounds; Masonry and brick construction with hardwood and laminate flooring
