Waterville Multifamily and Commercial
80-88 Elm St, Waterville, ME 04901
Multifamily and commercial property with income potential in Waterville.
Type:Mixed Use, Multifamily
Property size:
9,829 SFPrice / SF:
$213/SF- Added:
- Mar 3, 2026
- Days on Market:
- 70
- Last Refresh:
- Mar 16 at 1:44 pm
Property Features for 80-88 Elm St
General Information
- Standard status
- Active
- Size
- 9,829 SF
- Property subtype
- Mixed Use, Multifamily
Building Details
- Year Built
- 1900
Listing agent Matthew Boulerice License #DB922634
Listing office New England Realty Group LLC
Listing date Mar 3, 2026
Source Crexi
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 New England Realty Group LLC
HighLights
- Significant recent capital improvements: new Rinnai heaters, new roof on 88 Elm St, new gas commercial hot water heaters, and approximately half of the residential units have been recently renovated.
- 22 apartment units plus approximately 2,000 square feet of commercial warehouse space and a standalone laundromat with a long‑term lease.
- Located just off downtown Waterville and within Waterville’s Opportunity Zone.
- Separate heat and electric metering in place, allowing potential transition to resident‑paid utilities.
- TIF in place that may be transferable, subject to municipal approval.
- Existing management in place.
Overview
Located at 80 to 88 Elm Street in Waterville, this property presents a multifamily and commercial opportunity. The property features three buildings, encompassing a total of 22 apartment units, along with approximately 2,000 square feet of commercial warehouse space, and a standalone laundromat with a long-term lease. Situated just off downtown Waterville and within Waterville’s Opportunity Zone, the asset offers multiple avenues for increasing income and long-term value. Significant capital improvements have been made, including new separately metered natural gas Rinnai heaters in all 22 apartments, a new roof on 88 Elm St, new gas commercial hot water heaters, and renovations to approximately half of the residential units. Separate electrical meters are also installed. The apartments could transition toward resident-paid utilities over time, potentially improving expense control and net operating income. A large shared parking lot serves both the residential and commercial components. A TIF is in place and may be transferable with municipal approval if the Buyer assumes the current entity. The property may also be a strong candidate for bonus depreciation through a cost segregation study. Existing management is in place. The property size is 9,829 square feet.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Waterville
- County
- Kennebec
- State
- Maine
- Longitude
- -69.6327229
- Latitude
- 44.5517983
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Multifamily and commercial property with income potential in Waterville.
Where is this mixed-use property located?
The property is located at 80-88 Elm St Waterville, ME.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Significant recent capital improvements: new Rinnai heaters, new roof on 88 Elm St, new gas commercial hot water heaters, and approximately half of the residential units have been recently renovated.; 22 apartment units plus approximately 2,000 square feet of commercial warehouse space and a standalone laundromat with a long‑term lease.; Located just off downtown Waterville and within Waterville’s Opportunity Zone.
