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    6 Main Pl Waterville, ME 04901

    Sponsored
    For Sale
    $800,000

    Historic building, 37,118 SF, 40 unit potential.

    Property size:
    37,118 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 37,118 square foot retail property located at 6 Main Place in Waterville, Maine, presents a prime redevelopment opportunity. Built in 1928, the building sits on a 1.17-acre lot and is zoned Commercial A (CA). Currently configured as retail space, a preliminary architectural survey suggests the feasibility of converting the property into approximately 40 residential units. This conversion would be ideally suited for projects seeking Low Income Housing Tax Credits. Furthermore, the property is eligible for historic tax credits, with an eligibility letter available upon request. The property's central location offers convenient access to numerous downtown amenities and is approximately one mile from Interstate 95, Exit 130, ensuring excellent visibility and accessibility. The asking price for this unique investment opportunity is $800,000. This presents a rare chance to acquire a substantial property in a desirable location with significant potential for substantial returns. The property's historic character combined with its prime location and redevelopment potential makes it an attractive proposition for investors seeking a high-impact project.

    Property Features for 6 Main Pl

    General Information

    Property type
    Retail properties
    Square Feet
    37,118 SF
    Lot Size
    50,965 SF

    Building Details

    Year Built
    1928
    Units
    40

    HighLights

    • Excellent Redevelopment Site
    • Conveniently Located ~1 Mile from I‑92 Exit 130
    • Close Proximity to Downtown Amenities
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.6315578
    Latitude
    44.5561609

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    FAQs

    What type of property is this?
    Retail property - Historic building, 37,118 SF, 40 unit potential.
    Where is this retail property located?
    The property is located at 6 Main Pl Waterville, ME.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Excellent Redevelopment Site; Conveniently Located ~1 Mile from I-92 Exit 130; Close Proximity to Downtown Amenities
    Request Owner's contact information
    6 Main Pl Waterville, ME 04901
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    Waterville, ME 04901
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    Realmo Value Estimation

    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.

    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.

    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
    6 Main Pl Waterville, ME 04901
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