Established Restaurant with Dining
New
For Sale
$650,000
145 Main Street, Waterville, ME 04901
Commercial Sale, Waterville, ME
Property Size4,522 SF
Lot Size0.06 Acres
Price / SF$143.74
Days on Market2
Property Features for 145 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CA
Rooms
Basement
Parking features
On Street, Other
Interior features
Storage
Basement
Unfinished, Walk-Out Access, Full
Lot features
Near Turnpike/ Interstate, Downtown, Business District, Near Shopping
Standard status
Active
Size
4,522 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5994
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1870
Flooring type
Concrete, Laminate
Building materials
Masonry, Brick, Glass, Other Exterior
Roof type
Membrane, Flat
Additional Structures
Storage
Listing Agency:
Your Home Sold Guaranteed Realty
(207) 629-9211
Listed By:
Rene Smiley
(207) 653-7542
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 24 at 3:06PM
MLS# 1681767
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 restaurant property at 145 Main Street includes 4522 square feet within a masonry and brick structure built in 1870. The layout provides seating for 30+ guests, a basement, storage, concrete and laminate flooring, and a flat membrane roof. Natural gas forced-air heat and central air conditioning serve the building, while on-street parking is available.
The property occupies 0.06 acres in downtown Waterville, directly across from the Colby dorms. Shopping, the Waterville Opera House, and the Paul J. Schupf Arts Center are within the surrounding downtown area. Public water and public sewer serve the site, and CA zoning is identified for the property.
The property occupies 0.06 acres in downtown Waterville, directly across from the Colby dorms. Shopping, the Waterville Opera House, and the Paul J. Schupf Arts Center are within the surrounding downtown area. Public water and public sewer serve the site, and CA zoning is identified for the property.
Key Highlights
- Restaurant property with 4522 square feet
- Seating for 30+ guests
- 0.06‑acre downtown Waterville site
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
$50,669
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
7.80%
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%
$1,013,380
$1.0M
Cap Rate 7%
$723,843
$723.8K
Cap Rate 9%
$562,989
$563.0K
Market Conditions
NOI Build-Up for 4,522 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
$81.4K $18.00/SF
− Vacancy
−$13.8K −$3.06/SF
EGI
$67.6K $14.94/SF
− OpEx
−$16.9K −$3.74/SF
NOI
$50.7K $11.21/SF
Area
Kennebec County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$1,013,380
Cap Rate 7%
$723,843
Cap Rate 9%
$562,989
Alternative Uses
Best Use
Specialty Retail
$723.8K
$633.4K – $844.5K
NOI $50,669 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.75M
$5.90M – $7.87M
NOI $472,247 @ 7.0% cap · market cap 72.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 45%
Apparel 9%
Home Improvements & Furnishings 1%
Dollar Tree
Shops & Services
17,237 visits/mo
0.1 miles
Burger King
Dining
15,546 visits/mo
0.4 miles
Mobil
Shops & Services
10,194 visits/mo
0.3 miles
Aroma Joe's
Dining
9,981 visits/mo
0.5 miles
Dunkin' Donuts
Dining
8,626 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Pete's Pig Catering & Barbeque — 35 Water St, Waterville, ME 04901
Frequently Asked Questions
What type of property is this?
Restaurant - Masonry restaurant with seating, storage, public utilities, and central air conditioning.
Where is this restaurant located?
The property is located at 145 Main Street Waterville, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Restaurant property with 4522 square feet; Seating for 30+ guests; 0.06‑acre downtown Waterville site
