Updated Two-Unit
For Sale
$259,900
31-33 Temple Street, Waterville, ME 04901
Downtown commercial building with updated electrical and heating systems.
Property Size2,280 SF
Days on Market431
Property Features for 31-33 Temple Street
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Commercial
Zoning
CA
Taxes and HOA fees
Annual Taxes
$2,646
Building Details
Building Size
2,280 SF
Year Built
1965
Listing Agency:
Everett Realty Group
(207) 461-4249
Listed By:
Shelly Everett · License #DB923325
(207) 461-4249
Source:
Startpoint
Added: Jun 19, 2025
Changed: Aug 22
Last Checked: Aug 22 at 12:38PM
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 Everett Realty Group
Investment Insights
Based on property information with market context.
This downtown commercial property contains two units within a storefront configuration. Built in 1965, the building has received updates to its heating system and electrical service, along with recent cosmetic improvements to the exterior storefronts.
The roof was replaced 8 years ago. Located at 31-33 Temple Street in Waterville, Maine, the property is zoned CA and is offered for sale.
The roof was replaced 8 years ago. Located at 31-33 Temple Street in Waterville, Maine, the property is zoned CA and is offered for sale.
Key Highlights
- Two‑unit downtown commercial property
- Updated heating system and electrical service
- Roof replaced 8 years ago
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
$22,017
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
8.47%
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%
$440,340
$440.3K
Cap Rate 7%
$314,529
$314.5K
Cap Rate 9%
$244,633
$244.6K
Market Conditions
NOI Build-Up for 2,280 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
$32.8K $14.40/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$31.5K $13.80/SF
− OpEx
−$9.4K −$4.14/SF
NOI
$22.0K $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 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%
$440,340
Cap Rate 7%
$314,529
Cap Rate 9%
$244,633
Alternative Uses
Best Use
Retail
$314.5K
$275.2K – $367.0K
NOI $22,017 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.40M
$2.98M – $3.97M
NOI $238,108 @ 7.0% cap · market cap 91.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
962
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
0.2 miles
Burger King
Dining
15,546 visits/mo
0.4 miles
Mobil
Shops & Services
10,194 visits/mo
0.4 miles
Aroma Joe's
Dining
9,981 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Robins Nest — 173 Main St, Waterville, ME 04901
Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial building with updated electrical and heating systems.
Where is this storefront property located?
The property is located at 31-33 Temple Street Waterville, ME.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit downtown commercial property; Updated heating system and electrical service; Roof replaced 8 years ago
