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    405 Water St Gardiner, ME 04345

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    405 Water St Gardiner, ME 04345

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    • Office buildings
    • 34,465 SF
    • 1.44 lot acres
    For Lease
    $1,440,000
    View Listing →
    High-Visibility Retail and Office Building For Lease
    $1,440,000
    2,631 SF

    High-Visibility Retail and Office Building

    Retail and office spaces in revitalized downtown Gardiner, Maine.

    405 Water St, Gardiner, ME 4345
    View Listing
    Property ID
    US42-0197085
    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

    • Office buildings

    Property Details for 405 Water St

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    1.44 lot acres
    Property size
    34,465 SF
    Zone code
    17
    Property type
    Office buildings
    APN
    GARR M:037 B:001
    APU
    GARRM037B001

    Description

    This exceptional one-story, 34,465 square foot Class B office building, renovated in 2020, offers multiple suite options ranging from 2,631 to 10,804 contiguous square feet. Currently, six suites exist, with 16,250 square feet of vacant space available for lease. The building boasts a prime location in downtown Gardiner, directly on Routes 201/9, providing high visibility and easy access to the Maine Turnpike and I-295. This location offers significant advantages, being less than five minutes from major interstates and situated in a thriving community with a rich history and abundant recreational opportunities. Current tenants include established businesses such as Family Dollar, Encompass Energy, Solomon Casket, and Lifetouch, creating a strong tenant mix. The property includes 40 parking spaces and is zoned CC - Cobbossee Corridor with Shoreland Overlay (APN: 037/001 & 034/084, Kennebec County). The building features circuit breaker power, but lacks elevators. Multiple configuration options are available to suit various business needs, making this an ideal location for businesses seeking high visibility, convenient access, and a vibrant community setting. The city of Gardiner offers a blend of historical charm and modern amenities, including a waterfront park, boat launch, and easy access to Maine's coastal and mountain regions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,792,000
      Market price range: $1.79M - $3.85M
      AI Estimate
      $1,759,000
      Market price range: $1.58M - $5.39M

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

    Location Insight

    • Map
    • Local Demand
    City
    Gardiner
    County
    Kennebec
    State
    Maine
    Longitude
    -69.7758
    Latitude
    44.2301
    CBSA code
    12300
    CBSA name
    AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $32,455
    $52,700
    $1,316,700
    $1,369,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      10 Old Brunswick Rd

      OFFICE BUILDING • 3,884 SF
      10 Old Brunswick Rd, Gardiner, ME 04345-6042
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    • Value Estimation
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      9,200 SF

      542 Brunswick Ave

      OFFICE BUILDING • 9,200 SF
      542 Brunswick Ave, Gardiner, ME 04345-6026
      View Details
    • Value Estimation by Request
      3,432 SF

      17 Brunswick Ave

      OFFICE BUILDING • 3,432 SF
      17 Brunswick Ave, Gardiner, ME 04345-2123
      View Details
    • Value Estimation
      $2,175,000
      33,770 SF

      99 Enterprise Ave

      OFFICE BUILDING • 33,770 SF
      99 Enterprise Ave, Gardiner, ME 04345-6244
      View Details
    • Value Estimation
      $2,255,000
      52,045 SF

      76 Northern Ave

      OFFICE BUILDING • 52,045 SF
      76 Northern Ave, Gardiner, ME 04345-2829
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48,771 SF

      Fully Leased State Office Building

      Fully leased office building occupied by the State of Maine.
      76 Northern Ave, Gardiner, ME 04345
      View Details
    • $244,800
      4,513 SF

      Gardiner Commercial Building For Sale

      Former office and retirement home near downtown Gardiner.
      36 Brunswick Ave, Gardiner, ME 04345
      View Details
    • Contact for pricing
      48,771 SF

      Fully Leased Gardiner Office Building

      48,771 SF office building fully leased through 2033.
      76 Northern Ave, Gardiner, ME 04345
      View Details
    • $2,350,000

      Gardiner Investment Property For Sale

      Three buildings with tenants, plus vacant parcels for parking.
      405 Water St, Gardiner, ME 04345
      View Details
    • New
      $83,500
      3.00 Acres

      West Gardiner Land with Stream Frontage

      3-acre lot with 334 feet of Cobbossee Stream frontage.
      Cobbo Ln, West Gardiner, ME 04345
      View Details
    • New
      $79,000
      1.38 Acres

      Buildable Lot in West Gardiner

      1.3-acre lot in West Gardiner, Maine, ideal for building.
      Oakwood Dr, West Gardiner, ME 04345
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Retail and Office Building

      Retail and office spaces in revitalized downtown Gardiner, Maine.
      405 Water St, Gardiner, ME 04345
      View Details
    • Contact for pricing

      Versatile Building in Central Maine

      9,000± SF building suitable for office, daycare, or retail.
      26 Winter St, Gardiner, ME 04345
      View Details
    • Contact for pricing

      Mixed-Use Property in Downtown Gardiner

      Mixed-use property with retail and residential income potential.
      177 Water St, Gardiner, ME 04345
      View Details
    • Contact for pricing

      Gardiner Retail Space with Drive-Through

      Retail space with drive-through in a bustling Gardiner location.
      35 Bridge St, Gardiner, ME 04345
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space with Drive-Thru

      2,200± SF retail space with drive-thru in Gardiner, ME.
      35 Bridge St, Gardiner, ME 04345
      View Details
    • Contact for pricing
      30,000 SF

      Gardiner Distribution Center Space Available

      Up to 30,000 SF available at former AG distribution center.
      650 River Ave, Gardiner, ME 04345
      View Details
    View Listing
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    Gardiner, ME 04345
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    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
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