Mixed-Use Building with
312 Water Street, Gardiner, ME 04345
For Sale
$275,000
One retail unit and one apartment combine commercial and residential space in a single property.
Property Size2,331 SF
Price / SF$117.98
Days on Market1192
Property Features for 312 Water Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Cap Rate
Mixed-Use Components
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
CORE
(207) 210-5677
Listed By:
Benjamin Spencer
(207) 485-4473
Source:
Integrityhomesrealestategroup
Added: Aug 8, 2023
Changed: Nov 11
Last Checked: Nov 11 at 2:02AM
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 CORE
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Investment Insights
Based on property information with market context.
At 312 Water Street in downtown Gardiner, this 2,331-square-foot mixed-use property contains one retail unit and one apartment. Built in 1900, the building has undergone recent renovation, and its current income reflects an 8.19 cap rate.
Key Highlights
- 2,331‑square‑foot mixed‑use property
- One retail unit and one apartment
- Recently renovated; originally built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,047
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,940
$480.9K
Cap Rate 7%
$343,529
$343.5K
Cap Rate 9%
$267,189
$267.2K
Market Conditions
NOI Build-Up for 2,331 SF
Gross rent
$42.0K $18.00/SF
− Vacancy
−$3.5K −$1.49/SF
EGI
$38.5K $16.51/SF
− OpEx
−$14.4K −$6.19/SF
NOI
$24.0K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,940
Cap Rate 7%
$343,529
Cap Rate 9%
$267,189
Alternative Uses
Best Use
Mixed Use
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$324.4K
$283.9K – $378.5K
NOI $22,708 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$662.5K
$579.7K – $772.9K
NOI $46,375 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
126k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 32%
Shops & Services 24%
Apparel 7%
Hannaford
Groceries
30,211 visits/mo
0.1 miles
McDonald's
Dining
23,680 visits/mo
0.1 miles
Cumberland Farms
Shops & Services
18,504 visits/mo
0.1 miles
Goggin's IGA
Groceries
13,584 visits/mo
0.5 miles
Reny's
Apparel
8,902 visits/mo
0.2 miles
Demographics for 04345, ME
12,052
Population
5,562
Households
2.2
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
71.7 sq mi
ZIP Area
168
Density / Sq Mi
$68,844
Median Household Income
$42,559
Median Earnings
$956
Median Rent
$208,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Kennebec County, ME
Properties on Market for Mixed-use properties in Kennebec County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - One retail unit and one apartment combine commercial and residential space in a single property.
Where is this mixed-use property located?
The property is located at 312 Water Street Gardiner, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,331‑square‑foot mixed‑use property; One retail unit and one apartment; Recently renovated; originally built in 1900
