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    191 Water St Augusta, ME 04330

    For Sale
    $950,000

    Historic Augusta commercial property, high rental income.

    Property size:
    18,952 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional commercial property, located at 191 Water Street in Augusta, Maine's historic Water Street District, presents a unique investment opportunity. The 18,952 square foot building, originally constructed in 1900 and extensively renovated in 2009, combines retail and office space. The property includes a gas station component and offers approximately 10,000 square feet of rentable first-floor space, with 5,000 square feet currently leased by Maine Trial Law, PLLC at a rate of $10.00 per square foot, NNN. An additional 5,000 square feet of first-floor space is currently vacant, offering immediate potential for increased revenue. A substantial 8,952 square foot lower-level basement provides ample storage, and could be developed into additional office space, a gym, or recreational area. The building boasts impressive 14+ foot ceilings and a wraparound deck overlooking the Kennebec River. The property sits on a 0.23-acre lot and is zoned KBD1 - KENNEBEC BUSINESS 1. The asking price is $950,000, representing a price per square foot of $50.13. This property offers a blend of historical charm, modern updates, and significant income potential in a desirable Augusta location.

    Property Features for 191 Water St

    General Information

    Property type
    Automotive properties
    Square Feet
    18,952 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built/Renovated
    1900/2009

    HighLights

    • Located in Augusta's Historic Water Street District.
    • 10,000± SF of rentable first‑floor space, with 5,000± SF vacant.
    • 5,000± SF leased to Maine Trial Law, PLLC.
    • 8,952± SF lower‑level basement.
    • 14+ foot ceilings and wraparound deck overlooking the Kennebec River.
    • Basement offers ample storage, with potential for additional office, gym, or recreational space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    STEVE SMITH Trial ... Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Kennebec
    State
    Maine
    Longitude
    -69.692376
    Latitude
    44.3520015

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    FAQs

    What type of property is this?
    Automotive property - Historic Augusta commercial property, high rental income.
    Where is this automotive property located?
    The property is located at 191 Water St Augusta, ME.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Located in Augusta's Historic Water Street District.; 10,000± SF of rentable first-floor space, with 5,000± SF vacant.; 5,000± SF leased to Maine Trial Law, PLLC.
    Request Owner's contact information
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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
    191 Water St Augusta, ME 04330
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