Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    31-33 Temple St St Waterville, ME 04901
    Back to Search
    Property profile & analytics

    31-33 Temple St St, Waterville, ME 04901

    View on Map
    • Office Spaces
    • 2,280 SF
    • 0.06 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 31-33 Temple St St

    Year built
    1965
    Lot size
    0.06 lot acres
    Property type
    Office Spaces

    Description

    This exceptional commercial property located at 31-33 Temple Street in the heart of Waterville, Maine presents a compelling investment opportunity. The building encompasses 2,280 square feet situated on a 0.06-acre lot. The property consists of two fully leased units, generating consistent rental income. Significant improvements have been made to enhance both functionality and curb appeal. The heating system and electrical have been updated to ensure efficient and reliable operation. Furthermore, the roof was completely replaced just eight years ago, providing long-term peace of mind. Recent cosmetic upgrades to the exterior storefronts have significantly enhanced the building's visual appeal and market value. This property is ideally positioned in the vibrant downtown area, offering excellent visibility and accessibility. The strong tenant occupancy and recent improvements make this a low-maintenance, high-return investment. The asking price for this turnkey commercial property is $299,900. This represents a rare opportunity to acquire a well-maintained, income-producing asset in a desirable location. Serious inquiries are encouraged to explore this promising investment further. Financial statements and lease agreements are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.6296
    Latitude
    44.5508

    Comparable in this City

    • Value Estimation by Request
      10,287 SF

      44-46 Elm St St

      Office Spaces
      44-46 Elm St St, Waterville, ME 04901
      View Details
    • Value Estimation by Request
      1,411 SF

      32 College Ave Ste, Unit 202

      CONDOMINIUM OFFICES
      32 College Ave Ste, Waterville, ME 04901-6100
      View Details
    • Value Estimation by Request
      944 SF

      244 Kennedy Memorial Dr, Unit 6

      CONDOMINIUM OFFICES
      244 Kennedy Memorial Dr, Waterville, ME 04901-4538
      View Details
    • Value Estimation by Request
      2,100 SF

      325 Kennedy Memorial Dr, Unit 16B

      CONDOMINIUM OFFICES
      325 Kennedy Memorial Dr, Waterville, ME 04901-4517
      View Details
    • Value Estimation by Request
      3,150 SF

      325 Kennedy Memorial Dr, Unit 2E

      CONDOMINIUM OFFICES
      325 Kennedy Memorial Dr, Waterville, ME 04901-4517
      View Details
    • Value Estimation by Request
      1,113 SF

      325 Kennedy Memorial Dr, Unit 14B

      CONDOMINIUM OFFICES
      325 Kennedy Memorial Dr, Waterville, ME 04901-4517
      View Details

    Similar Nearby for Sale

    • $650,000
      13,413 SF

      Downtown Waterville Commercial Building

      Four-story mixed-use building in downtown Waterville.
      99 Main St, Waterville, ME 04901
      View Details
    • $359,900
      2,908 SF

      Versatile Commercial Property in Waterville

      1.92-acre commercial property with office suites and outdoor canopy.
      120 Drummond Ave, Waterville, ME 04901
      View Details
    • Contact for pricing
      10,287 SF

      Waterville Office Building For Sale

      Over 10,000 SF of office and conference room space.
      44-46 Elm St, Waterville, ME 04901
      View Details
    • $229,900
      6,211 SF

      Multi-Tenant Office Building in Waterville

      Fully occupied office building near downtown Waterville with ample parking.
      2 Park St, Waterville, ME 04901
      View Details
    • $1,800,000
      11,250 SF

      Well-Maintained Office Building For Sale

      Visible office building on Kennedy Memorial Drive in Waterville, Maine.
      244 Kennedy Memorial Dr, Waterville, ME 04901
      View Details
    • Contact for pricing
      13,413 SF

      Historic 4-Story Waterville Building

      Four-story commercial building in downtown Waterville, Maine.
      99 Main St, Waterville, ME 04901
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      1 SF

      Historic Waterville Office Building

      Prime Office Space Available in Waterville, ME
      32 College Ave, Waterville, ME 04901, Waterville, ME 04901
      View Details
    • Contact for pricing
      439 SF

      Downtown Waterville Office/Retail Space

      First-floor office/retail and Class A office space for lease.
      10 Water St, Waterville, ME 04901
      View Details
    • Contact for pricing
      4,754 SF

      Downtown Waterville Office Space

      4,200 SF office suite in downtown Waterville for lease.
      180 Main St, Waterville, ME 04901
      View Details
    • Contact for pricing
      95 SF

      Landmark Building Office Space

      Office space in downtown Waterville, near the Paul J Schupf Art Center.
      80-88 Main St, Waterville, ME 04901
      View Details
    • Contact for pricing

      Downtown Waterville Creative Center Space

      Creative and retail spaces in downtown Waterville along Kennebec River.
      10 Water St, Waterville, ME 04901
      View Details
    • Contact for pricing
      1,326 SF

      Waterville Office Space For Lease

      Recently renovated office space in downtown Waterville with elevator access.
      70 Main St, Waterville, ME 04901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    31-33 Temple St St
    Waterville, ME 04901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    31-33 Temple St St, Waterville, ME, 04901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!