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Property profile & analytics
FOR LEASE
Office buildings

10 Water St Waterville, ME 04901

238,560 SF 5.14 ac lot Built 1881
Entity Owned 9-yr Hold Free & Clear
Property ID
US42-0010255
Property summary
AI-generated overview

The Hathaway Creative Center offers exceptional office and retail space in downtown Waterville, Maine. This Class A property boasts a total of 230,000 square feet across a five-story building situated on 4.19 acres of land. The building features a single structure with 378 parking spaces and elevators for convenient access. Multiple tenancy options are available, with spaces ranging from a minimum of 439 square feet to a maximum contiguous space of 10,094 square feet. First-floor office and retail suites (approximately 1,000-3,000 square feet) feature high ceilings and exposed brick, offering a unique and attractive aesthetic. The third floor provides approximately 10,094 square feet of Class A office space with stunning water views and abundant natural light from three sides. The property is zoned DI - Downtown Industrial and its location along the Kennebec River is less than two miles from Colby College and the Maine Turnpike. Established tenants include MaineGeneral Health, Raymond James, and the Central Maine Growth Council, underscoring the building's desirability and strong tenant base. Well-appointed common areas further enhance the professional atmosphere. The property's APN is Map 44, Block 34, located in Kennebec County within the Augusta/Waterville submarket. Lease rates are available upon request.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1881
Construction FRAME
Total area 238,560 SF
Lot 5.14 ac (223,898 SF)
APN WAVL M:044 B:311
UPID US42-0010255
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Unfunded List Charitable Organization Social Service Agency
  • Kennebec Region Health Alliance Medical Clinic
  • MaineGeneral Community Care Nursing Home
  • PrimePro Insurance ME Insurance Agency
  • Employee Assistance Program (EAP) Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.41M
Blend (final) Blend
$10.43M
Owner & transaction history
North River Hathaway LLC · 9 yrs held
North River Hathaway LLC
since 2017
4 recorded transactions
2017
Price N/A
2017
Price N/A
2016
Price N/A
2007
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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