244 Kennedy Memorial Drive, Waterville, ME 04901
COMMERCIAL - Waterville, ME
- Added:
- Jun 24, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 27 at 11:06 pm
Property Features for 244 Kennedy Memorial Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- CB
- Rooms
- Basement
- Basement
- Partial, Full, Unfinished
- Standard status
- Active
- Size
- 11,250 SF
- Lot size
- 0.01 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 12000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Oil, Hot Water(Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1988
- Number of units
- 6
- Flooring type
- Carpet, Tile, Laminate, Vinyl
- Building materials
- Brick
- Roof type
- Shingle
Listing agent Christopher Vallee (207) 242-2041
Listing office LAER 49 Oak Street #2, Hallowell, ME (207) 622-2220
Listing date Jun 24, 2026
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.
HighLights
- 3 floors of office condominium units with 2 units per floor and 2 bathrooms per unit
- Brick construction with central air cooling and shingle roof
- Handicap accessible with a common elevator
- Heating includes oil and hot water (heating)
- Public water and public sewer
- Large on‑site parking lot
Overview
The building is located on Kennedy Memorial Drive in Waterville, Maine, and is described as highly visible along that roadway. The offering includes a well-maintained exterior and a parking lot designed to support tenant and visitor access.
This configuration can work well for an owner-occupied buyer seeking an office condominium arrangement, or for a landlord interested in managing multiple condominium units within the same building. The seller is offering the property for sale or lease, and will consider owner financing to a qualified buyer, providing flexibility for different business and ownership strategies.
Local Financial Insights For Office B
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 | $243.0k | $21.60 |
| − Vacancy | −$31.0k | −$2.75 |
| EGI | $212.0k | $18.85 |
| − OpEx | −$53.0k | −$4.71 |
| NOI | $159.0k | $14.14 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Waterville
- County
- Kennebec
- State
- Maine
- Longitude
- -69.6634466
- Latitude
- 44.5427114
