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    286 Water St Augusta, ME 04330

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    For Lease
    Contact for pricing

    Class A Office & Retail Space Available

    Lot size:
    76,510 SF

    Property Features for 286 Water St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    76,510 SF
    Class
    A
    Total Rate
    76510

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 286 Water St, Augusta, ME 04330 Contact us
    Unit Available Space

    $18 /Mo

    Size
    5,834 SF
    Contact us
    Unit Available Space 2

    $12 /Mo

    Size
    12,199 SF
    Contact us
    Unit Available Space 1

    $18 /Mo

    Size
    5,538 SF
    Contact us

    We can help!

    Listing Contact
    Vince Ciampi
    Vince Ciampi

    Listing Agency: Porta & Co Listing Agent: Vince Ciampi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Class A property at 286 Water Street in Augusta offers 76,510 square feet of prime commercial space, ideal for a variety of uses. Currently, there are 23,571 square feet of vacant space available, divisible into units ranging from a minimum of 5,834 square feet to a maximum contiguous space of 12,199 square feet. Three spaces are immediately available, ranging from 5,538 to 12,199 square feet. The building, constructed in 1988, boasts a desirable location in the heart of downtown Augusta, with ample on-site parking. The flexible floor plan allows for customization to suit diverse business needs, including retail, restaurant, or office tenants. First-floor spaces, ranging from 5,834 to 11,372 square feet, benefit from large windows and street-level access, creating excellent visibility and accessibility. The second floor offers a contiguous 12,199 square feet of office space. A charming courtyard provides the potential for outdoor seating, adding a unique amenity to the property. The property is zoned KBD1 - Kennebec Business 1, ensuring a wide range of permitted uses. This is a rare opportunity to secure high-quality commercial space in a thriving downtown location. Inquire today to learn more about leasing options and explore the possibilities this exceptional property offers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    State of Maine: Health ... State Government Office Health Engineering Division Department Of Transportation Dr. Molly Schwenn Physician Maine Center for Disease ... Government Office Radon Levels for Maine Information Services

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Kennebec
    State
    Maine
    Longitude
    -69.7744537
    Latitude
    44.3153331

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office & Retail Space Available
    Where is this office property / space located?
    The property is located at 286 Water St Augusta, ME.
    What is the lease rate?
    The lease rate is $12-$18 SF/Yr.
    What are key features of this property?
    This property features: Class A, 76,510 SF multi-tenant office and retail building.; 23,571 SF of vacant space available.; Divisible suites from 5,834 SF to 12,199 SF contiguous.
    (207) 747-1515 Call to check price and availability
    Request Owner's contact information
    286 Water St Augusta, ME 04330
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    Augusta, ME 04330
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    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
    286 Water St Augusta, ME 04330
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vince Ciampi
    Vince Ciampi
    (207) 747-1515
    Learn more
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