Commercial Real Estate Market in Waterville, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
56 active listings and 757 off-market properties in Waterville, ME.
Market Trends
Waterville, ME spans 78.8 square miles in Kennebec County, Maine. Figures below refresh monthly; last updated 31 October 2026.
Office
Across Kennebec County, office space asks $117/SF to buy. Office vacancy in Waterville, ME runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Kennebec County, retail space asks $174/SF to buy. Retail vacancy in Waterville, ME runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Waterville, ME runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Multifamily
Across Kennebec County, multifamily space asks $122/SF to buy. Multifamily vacancy in Waterville, ME runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 56%
- Commercial 14.8%
- Civic 11%
- Industrial 9.2%
- Special 3.9%
- Open space 2.8%
- Agricultural 1.6%
- Mixed use 0.8%
Largest Zones share of zoned land by district
Waterville, ME zones 8,289 acres across 52 districts. Commercial zoning covers 14.8% of zoned land, residential 56%, open space 2.8% and industrial 9.2%. The largest single district is Rural Residential at 23.3%. For commercial buyers the practical constraint is that only 24% of land carries a commercial or industrial designation.
Rural Residential District (R-R). [Amended 11-21-2023 by Ord. No. 179-2023 ; 2-4-2025 by Ord. No. 37-2025 ; 5-20-2025 by Ord. No. 101-2025 ; 7-17-2025 by Ord. No. 116-2025 ; 11-18-2025 by Ord. No. 209-2025 ] A. Purpose. The R-R District is principally for rural residential development, agriculture, forestry and customary associated uses. Permitted in this di…
Market overview
Demographics & Economy
Waterville, ME has 26,491 residents in 12,084 households. Density runs 336 people per square mile. Median household income here is $54,122 and median gross rent $957 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Waterville?
What zoning applies to commercial property in Waterville?
Where does Realmo's Waterville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 54 active for-sale and 2 active for-lease listings in Waterville, ME. The sale median is based on 49 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 8,289 zoned acres across 52 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
