Property profile

252 Water St Gardiner, ME 04345

OFF-MARKET
Turn key restaurants
Property ID
US42-0170486
10,557 SF 0.14 ac lot Built 1875
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

A downtown mixed-use building located in Gardiner’s historic downtown commercial district, positioned just off I-95 for access to Brunswick, Portland, and Bangor. The building is configured for multiple uses, including a first-floor restaurant with dining area and a commercial-grade kitchen, office suites and artistic studio spaces, additional operating space in the form of an Airbnb/apartment-style unit, and unfinished space on the third floor. The second-floor layout provides potential for further office co-op configuration or additional apartment units, supporting flexibility for continued mixed-use use or redevelopment. Documented improvements include major renovations completed in the 1990s, including replacement of LVL beams and new eye beams, upgraded electrical wiring and plumbing, installation of a new furnace, addition of central air, and interior improvements. More recent documented updates include expansion of the restaurant dining area and kitchen in 2020, remodeling of office space in 2023, and addition of a full apartment unit for short-term rental in 2024 featuring a bar-style kitchen. The property includes six reserved parking spaces.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1875
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 10,557 SF
Lot 0.14 ac (6,098 SF)
Zoning code 17
APN GARR M:034 B:108
UPID US42-0170486

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Art Studio

Location

252 Water St Gardiner, ME 04345-2110
Gardiner metro Census 11000 AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$345k
CAP Approach CAP
by Request
Comparable Approach Comparable
$678k
Blend (final) Blend
$345k

Owner & transaction history

since 2025
4 recorded transactions
2025
Price N/A
2022
Price N/A
2008
Price N/A
2007
Price N/A

Zoning & alternative use

17 · Gardiner, ME

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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