Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    235 River Rd Waterville, ME 04901
    Back to Search
    Property profile & analytics

    235 River Rd, Waterville, ME 04901

    View on Map
    • Commercial real estate
    • 57.68 lot acres
    Off-Market
    Property ID
    US42-0066989
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 235 River Rd

    Lot size
    57.68 lot acres
    Property type
    Commercial real estate
    APN
    022/110 & 120

    Description

    This exceptional 57.68-acre parcel presents a remarkable opportunity for residential development in Waterville, Maine. Located at 235 W River Rd, with APN 022/110 & 120, this property boasts a highly desirable location directly across from Thomas College and adjacent to LaFleur Airport. Its convenient access to major thoroughfares like Kennedy Memorial Drive and I-95, along with proximity to Northern Light Inland Hospital and Colby College, ensures strong appeal to potential residents. The land is zoned RB, permitting residential construction. The asking price for this expansive tract is $395,000. This represents a significant investment opportunity given the property's size, location, and development potential within a thriving community. The property is owned by CTD, LLC. Its strategic position offers easy access to a range of amenities and services, making it an ideal location for a variety of residential projects. The substantial acreage provides ample space for a diverse range of housing options, catering to a broad spectrum of potential buyers. Detailed zoning information and development guidelines are readily available upon request. This is a rare opportunity to acquire a large, well-situated parcel in a growing Maine community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.67261
    Latitude
    44.52509

    Comparable in this City

    • Contact for pricing
      119,771 SF

      Waterville Redevelopment Opportunity

      Redevelopment project with approvals for mixed-use development.
      30 Chase Ave, Waterville, ME 04901
      View Details
    • Contact for pricing
      8,919 SF

      Turn-Key Investment Opportunity in Winslow

      Laundromat, real estate, and fully occupied six-unit apartment building.
      60 Bay St, Winslow, ME 04901
      View Details
    • $225,000
      1,671 SF

      Winslow Multifamily Property with Garage

      Two-unit building with income potential and a two-car garage.
      132 Clinton Ave, Winslow, ME 04901
      View Details
    • $380,000
      2,796 SF

      Updated Multi-Family Investment Property

      Updated multi-family property near schools, parks, and Colby College.
      83 Pleasant St, Waterville, ME 04901
      View Details
    • New
      $262,000
      1,838 SF

      Waterville Two-Unit Investment Opportunity

      Charming two-unit property in Waterville, Maine with income potential.
      63 Summer St, Waterville, ME 04901
      View Details
    • $1,900,000
      9,829 SF

      Multifamily and Commercial Opportunity

      Multifamily and commercial property with 22 units and warehouse space.
      Waterville, ME 04901
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      119,771 SF

      Waterville Redevelopment Opportunity

      Redevelopment project with approvals for mixed-use development.
      30 Chase Ave, Waterville, ME 04901
      View Details
    • Contact for pricing
      9,829 SF

      Waterville Multifamily and Commercial Opportunity

      Multifamily and commercial property with income potential in Waterville.
      80-88 Elm St, Waterville, ME 04901
      View Details
    • $175,000
      1,824 SF

      Waterville Duplex with Long-Term Tenants

      Well-maintained two-unit property in Waterville with long-term tenants.
      49 Ticonic St, Waterville, ME 04901
      View Details
    • $525,000
      3,493 SF

      Iconic Colonial Multi-Family Property

      Charming 5-bedroom multi-family home on 2.43 acres in Waterville.
      91 W River Rd, Waterville, ME 04901
      View Details
    • $275,000
      3,566 SF

      Repurposed Multi-Unit in Waterville, ME

      Partially new multi-unit with income potential in Waterville, Maine.
      40 Ticonic St, Waterville, ME 04901
      View Details
    • Contact for pricing
      8,919 SF

      Turn-Key Investment Opportunity in Winslow

      Laundromat, real estate, and fully occupied six-unit apartment building.
      60 Bay St, Winslow, ME 04901
      View Details

    Similar Nearby for Lease

    • 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
      2,672 SF

      Renovated Retail Space with Drive-Up

      2,672 SF renovated retail space with drive-up lane.
      295 Kennedy Memorial Dr, Waterville, ME 04901
      View Details
    • Contact for pricing
      8,750 SF

      Waterville Flex Industrial Space

      8,750± SF flex space suitable for cannabis production.
      20 Industrial 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.
    235 River Rd
    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
    235 River Rd, 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!