Commercial Real Estate Market in Waterville, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
81 active listings and 757 off-market properties in Waterville, ME. Commercial property asks $14/SF to buy and $15.00/SF/Yr to lease.
Market Trends
Waterville, ME spans 78.8 square miles in Kennebec County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Waterville, ME asks $95/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Waterville, ME asks $127/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
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%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Waterville, ME asks $118/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
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
Rural Residential
Medium Density Residential
Low Density Residential
Institutional
Industrial
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 (RR)
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.
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Winslow | — | — |
| Fairfield | — | — |
| Benton | — | — |
| Vassalboro | — | — |
Commercial property in Waterville, ME asks $14/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waterville?
Commercial property in Waterville, ME asks an average of $14 per square foot. The 5 most recent recorded sales traded at a median of $119/SF. Retail carries the highest asking price at $127/SF.
How much does it cost to lease commercial space in Waterville?
Asking lease rates in Waterville, ME average $15.00 per square foot per year.
What zoning applies to commercial property in Waterville?
Waterville, ME zones 8,289 acres across 52 districts, of which 14.8% is commercial and 9.2% industrial. The largest single district is Rural Residential at 23.3% of zoned land. 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… Residential zoning covers 56% and open space 2.8%.
Where does Realmo's Waterville market data come from?
Realmo compiles Waterville, ME figures from 5 recent recorded sales, 78 active sale listings, 3 active lease listings, 757 tracked off-market properties, the current Waterville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 78 active for-sale and 3 active for-lease listings in Waterville, ME. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
