Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    405 Water Street Gardiner, ME 4345

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,350,000

    Three buildings with tenants, plus vacant parcels for parking.

    Type:SCR, MU
    Added:
    May 3, 2022
    Days on Market:
    1448
    Last Refresh:
    Apr 3 at 5:05 am

    Property Features for 405 Water Street

    General Information

    Standard status
    Active
    Property subtype
    SCR, MU

    Building Details

    Year Built
    1931

    We can help!

    Listing Contact
    Dennis Wheelock
    Dennis Wheelock

    Listing agent Dennis Wheelock License #BR921652

    Listing office KW Commercial | Greater Portland | Scott Balfour

    Listing date May 3, 2022

    Source Realnex

    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 KW Commercial | Greater Portland | Scott Balfour

    Overview

    Gardiner Investment Property For Sale

    This investment property includes three buildings with tenants in place, along with multiple vacant parcels utilized as overflow parking. The property is located directly on Routes 201/9 in downtown Gardiner, near local amenities and less than five minutes from the Maine Turnpike and I-295. Tenants at 405 Water Street include Family Dollar and Lifetouch. Tenants at 408-418 Water Street include US Cellular, Sugar Bud Farm, The Bench, and Canton Restaurant. This portfolio offers high visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Hannaford Bros, 100 Maine Ave, Gardiner, ME 04345
    • Coinstar Bitcoin ATM — Hannaford Bros, 100 Maine Ave, Gardiner, ME 04345

    Location Insight

    • Map
    • Local Demand
    City
    Gardiner
    County
    Kennebec
    State
    Maine
    Longitude
    -69.7760591
    Latitude
    44.2300248

    Nearby Similar for Sale

    • $244,800
      4,513 SF

      Gardiner Commercial Building For Sale

      Former office and retirement home near downtown Gardiner.
      36 Brunswick Avenue, Gardiner, ME 04345
      View Details
    • $89,900

      Gardiner, ME 1.9 Acre Land

      1.9 acre lot with high visibility near I-95.
      Brunswick Avenue, Gardiner, ME 04345
      View Details
    • $244,800
      4,513 SF

      Gardiner Multifamily Property For Sale

      Former office/retirement home near downtown Gardiner, being sold as-is.
      36 Brunswick Avenue, Gardiner, ME 04345
      View Details
    • $750,000
      14,883 SF

      Gardiner Auto Shop For Sale

      Auto-related property in Gardiner with 13 service bays.
      511 Water St, Gardiner, ME 04345
      View Details
    • $399,900
      11,340 SF

      Downtown Gardiner Mixed-Use Building

      Mixed-use building in downtown Gardiner with income potential.
      218 Water St, Gardiner, ME
      View Details
    • $399,900
      11,340 SF

      Downtown Gardiner Mixed-Use Building

      Historic mixed-use building in downtown Gardiner with income potential.
      218 Water Street, Gardiner, ME 04345
      View Details
    • $5,100,000
      48,771 SF

      Fully Leased Gardiner Office Building

      48,771 SF office building fully leased through 2033.
      76 Northern Ave, Gardiner, ME
      View Details
    • $5,100,000
      48,771 SF

      Fully Leased State Office Building

      Fully leased office building occupied by the State of Maine.
      76 Northern Ave, Gardiner, ME 04345
      View Details

    FAQs

    What type of property is this?
    Shopping center - Three buildings with tenants, plus vacant parcels for parking.
    Where is this shopping center located?
    The property is located at 405 Water Street Gardiner, ME.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: High‑visibility location directly on Routes 201/9.; Portfolio includes three buildings with tenants in place.; Multiple vacant parcels provide overflow parking.
    (207) 879-9800
    We can help!
    Listing Contact
    Dennis Wheelock
    Dennis Wheelock
    Real Estate License ID: BR921652
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!