Downtown Commercial
191-193 Water Street, Hallowell, ME 04347
For Sale
$850,000
A paved parcel offers dedicated parking in a historic downtown setting.
Property Size6,800 SF
Price / SF$125
Days on Market979
Property Features for 191-193 Water Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
The Boulos Company
Listed By:
Christopher Pathwick-Paszyc
(207) 772-1333
Source:
Integrityhomesrealestategroup
Added: Mar 8, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:19AM
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 The Boulos Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,800-square-foot commercial land parcel at 191-193 Water Street includes a paved lot with dedicated parking. The property carries DT and floodplain zoning designations and was built in 1938.
The site is in downtown Hallowell, with views of the Kennebec River. Nearby businesses include Hallowell Seafood & Produce, Lucky Garden, Cafe De Bangkok, Burano's, and Slates.
The site is in downtown Hallowell, with views of the Kennebec River. Nearby businesses include Hallowell Seafood & Produce, Lucky Garden, Cafe De Bangkok, Burano's, and Slates.
Key Highlights
- 6,800‑square‑foot parcel at 191‑193 Water Street
- Paved lot with dedicated parking
- DT and floodplain zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,665
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,300
$1.3M
Cap Rate 7%
$938,071
$938.1K
Cap Rate 9%
$729,611
$729.6K
Market Conditions
NOI Build-Up for 6,800 SF
Gross rent
$97.9K $14.40/SF
− Vacancy
−$4.1K −$0.60/SF
EGI
$93.8K $13.80/SF
− OpEx
−$28.1K −$4.14/SF
NOI
$65.7K $9.66/SF
Area
Kennebec County, ME
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,300
Cap Rate 7%
$938,071
Cap Rate 9%
$729,611
Alternative Uses
Best Use
Retail
$938.1K
$820.8K – $1.09M
NOI $65,665 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,286 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
Market
Average Price Trend$/SF for Commercial land in Kennebec County, ME
Properties on Market for Commercial land in Kennebec County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Commercial land - A paved parcel offers dedicated parking in a historic downtown setting.
Where is this commercial land located?
The property is located at 191-193 Water Street Hallowell, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6,800‑square‑foot parcel at 191‑193 Water Street; Paved lot with dedicated parking; DT and floodplain zoning
