Masonry Flex Building with
For Sale
$1,000,000
36 Water Street, Randolph, ME 04346
Commercial Sale, Randolph, ME
Property Size6,800 SF
Lot Size1.38 Acres
Price / SF$146.63
Days on Market47
Property Features for 36 Water Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Lot features
Water View, Near Shopping
Standard status
Active
Size
6,820 SF
Lot size
1.38 Acres
Additional Details
Currently Operating
Yes
Property Use
auction hall
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4789
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil, Steam
Water source
Public
Building Details
Year built
1967
Flooring type
Concrete
Building materials
Masonry, Steel Frame, Block
Roof type
Membrane
Buildings
1
Listing Agency:
LAER
(207) 622-2220
Listed By:
Christopher Vallee
(207) 242-2041
Added: Sep 12
Changed: Oct 27
Last Checked: Oct 28 at 7:06AM
MLS# 1680316
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.
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Investment Insights
Based on property information with market context.
This flex property at 36 Water Street is a 1967 masonry building with a steel-frame and block construction system. The interior provides a broad, open configuration with webbed trusses, poured concrete flooring, an entrance area, kitchen, and garage access. The building is currently used as an auction hall, offering a substantial commercial setting that can accommodate varied operational layouts.
The 1.38-acre property includes parking for 100+ vehicles and is served by public water and public sewer. Steam, forced-air, and oil heating systems are present, along with a membrane roof. Located in Randolph, Maine, the site combines a sizable open interior with on-site vehicle capacity and direct building access.
The 1.38-acre property includes parking for 100+ vehicles and is served by public water and public sewer. Steam, forced-air, and oil heating systems are present, along with a membrane roof. Located in Randolph, Maine, the site combines a sizable open interior with on-site vehicle capacity and direct building access.
Key Highlights
- 1.38‑acre commercial property at 36 Water Street, Randolph, ME 04346
- Masonry, steel‑frame, and block construction
- Open interior with webbed trusses and poured concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,858
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,160
$1.3M
Cap Rate 7%
$940,829
$940.8K
Cap Rate 9%
$731,756
$731.8K
Market Conditions
NOI Build-Up for 6,820 SF
Gross rent
$98.2K $14.40/SF
− Vacancy
−$4.1K −$0.60/SF
EGI
$94.1K $13.80/SF
− OpEx
−$28.2K −$4.14/SF
NOI
$65.9K $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%
$1,317,160
Cap Rate 7%
$940,829
Cap Rate 9%
$731,756
Alternative Uses
Best Use
Industrial
$8.38M
$7.33M – $9.78M
NOI $586,546 @ 7.0% cap · market cap 58.65%
Second Best
Retail
$940.8K
$823.2K – $1.10M
NOI $65,858 @ 7.0% cap · market cap 6.59%
Theoretical Best
Warehouse
$10.17M
$8.90M – $11.87M
NOI $712,234 @ 7.0% cap · market cap 71.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 04346, ME
1,743
Population
888
Households
2
Avg Household Size
48
Median Age
17%
College-Educated
93%
High-School Grad
2.1 sq mi
ZIP Area
830
Density / Sq Mi
$52,917
Median Household Income
$42,357
Median Earnings
$779
Median Rent
$157,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial space with concrete floors, high ceilings, garage access, and parking for vehicles.
Where is this flex space located?
The property is located at 36 Water Street Randolph, ME.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 1.38‑acre commercial property at 36 Water Street, Randolph, ME 04346; Masonry, steel‑frame, and block construction; Open interior with webbed trusses and poured concrete flooring
