Mixed-Use Office
New
For Sale
$364,900
36 Silver Street, Waterville, ME 04901
Two-and-a-half floors provide office areas alongside kitchen, laundry, and potential residential living space.
Property Size2,439 SF
Price / SF$149.61
Days on Market5
Property Features for 36 Silver Street
General Information
Standard status
Active
Size
2,439 SF
Property subtype
Commercial
Lease Term
[]
Amenities
kitchen and laundry facilities
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Plourde Real Estate
Listed By:
Robbin Eusebio
(207) 632-3922
Source:
Cbplourde
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 18 at 8:51AM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
This 2,439-square-foot mixed-use building, constructed in 1930, is arranged across two-and-a-half floors. The first two levels include approximately 6 designated office spaces, kitchen and laundry facilities, and 2 ½ baths. The second floor can also accommodate a 2-3-bedroom living arrangement, creating flexibility for commercial, residential, or combined occupancy.
The property is located at 36 Silver Street in Waterville, within walking distance of Main Street and downtown. Colby College and major corridors are minutes away, while nearby services, dining, and cultural destinations are accessible from the site. The building and lot have been surveyed, and the sale will convey the front building and its land under a deed specific to that property.
The property is located at 36 Silver Street in Waterville, within walking distance of Main Street and downtown. Colby College and major corridors are minutes away, while nearby services, dining, and cultural destinations are accessible from the site. The building and lot have been surveyed, and the sale will convey the front building and its land under a deed specific to that property.
Key Highlights
- 2,439‑square‑foot mixed‑use building constructed in 1930
- Two‑and‑a‑half floors configured for professional office use
- Approximately 6 designated office spaces
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
$25,161
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
6.90%
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%
$503,220
$503.2K
Cap Rate 7%
$359,443
$359.4K
Cap Rate 9%
$279,567
$279.6K
Market Conditions
NOI Build-Up for 2,439 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
$43.9K $18.00/SF
− Vacancy
−$3.6K −$1.49/SF
EGI
$40.3K $16.51/SF
− OpEx
−$15.1K −$6.19/SF
NOI
$25.2K $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 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%
$503,220
Cap Rate 7%
$359,443
Cap Rate 9%
$279,567
Alternative Uses
Best Use
Office B
$492.5K
$431.0K – $574.6K
NOI $34,478 @ 7.0% cap · market cap 9.45%
Second Best
Mixed Use
$359.4K
$314.5K – $419.4K
NOI $25,161 @ 7.0% cap · market cap 6.90%
Theoretical Best
Warehouse
$3.64M
$3.18M – $4.25M
NOI $254,713 @ 7.0% cap · market cap 69.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-and-a-half floors provide office areas alongside kitchen, laundry, and potential residential living space.
Where is this mixed-use property located?
The property is located at 36 Silver Street Waterville, ME.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 2,439‑square‑foot mixed‑use building constructed in 1930; Two‑and‑a‑half floors configured for professional office use; Approximately 6 designated office spaces
