82 Water St, Augusta, ME 04330

This mixed-use property combines commercial and residential space within a multi-story building overlooking the Kennebec River at the north end of Water Street. The south portion of the building spans three stories and includes an expansive open basement, while the north side provides two stories of additional space for future upgrades. The current owner has completed extensive improvements, including new plumbing, new electrical systems, new framing, and a new natural gas heating system.

The building is located in Augusta’s Historic District and within one of the city’s key revitalization areas. Nearby, the historic Colonial Theater restoration project is ongoing, underscoring continued activity in the downtown area. Prospective buyers should confirm commercial and residential use options with the City of Augusta.

With both commercial and residential components, this property can fit buyers and developers looking for a mixed-use redevelopment or repositioning strategy. The combination of three-story and two-story areas, along with the open basement on the south side, provides flexibility for reconfiguration and future interior work aligned with permitted uses. The substantial recent infrastructure upgrades also reduce near-term building systems risk for an operator planning further improvements.