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    49 Water St Wiscasset, ME 04578

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    49 Water St Wiscasset, ME 04578

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    • Retail space
    • 6,248 SF
    • 0.06 lot acres
    For Sale
    $1,300,000
    View Listing →
    Wiscasset Commercial Gem For Sale
    $1,300,000
    6,248 SF

    Wiscasset Commercial Gem

    Historic building with commercial & residential spaces

    Westport Island, ME 04578
    View Listing
    Property ID
    US42-0406886
    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

    • Retail space

    Property Details for 49 Water St

    Year built
    1787
    Lot size
    0.06 lot acres
    Property size
    6,248 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional mixed-use property in Wiscasset, Maine, presents a unique investment opportunity. Located at 49 Water Street, this three-story, 6,248 square foot building boasts a rich history, having served as a hardware store for over 70 years. Currently configured with four units, including three commercial spaces and one residential unit, it offers significant income potential. The commercial spaces, ideal for retail or office use, generate substantial rental income; two units are currently leased, with strong interest in the vacant ground floor space. The one-bedroom residential unit provides additional income potential, and could be easily converted into a two-bedroom unit or even two separate units. The property sits on a 0.06-acre lot and benefits from a prime location near Wiscasset's Main Street, ensuring high visibility and foot traffic. Financial records indicate a 2022 net operating income (NOI) of $30,797 and a 2023 NOI of $23,694, with the decrease attributed to a vacant ground floor space. The building, constructed in 1787 and renovated in 1990, is zoned Village I. This property offers a blend of historical charm, strong rental income, and significant upside potential for a savvy investor. The asking price is $1,300,000, representing a price per square foot of $208.07. This is a rare chance to own a piece of Wiscasset's vibrant coastal 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
    Wiscasset
    County
    Lincoln
    State
    Maine
    Longitude
    -69.664292339397
    Latitude
    44.00265516428

    Comparable in this City

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      Versatile 10-Acre Income Property

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    • $1,300,000
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      Wiscasset Commercial Gem

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      View Details
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    Similar Nearby for Sale

    • $749,000
      6,738 SF

      Versatile Commercial Building on Route 1

      6,738 SF commercial building on 3.5 acres in Wiscasset, ME.
      424 Bath Rd, Wiscasset, ME 04578
      View Details
    • New
      $285,000
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      Westport Island Building Site with Barn

      Secluded 20-acre building site with barn and infrastructure.
      150 Post Office Rd, Westport Island, ME 04578
      View Details
    • $260,000
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      Westport Island Homestead Land

      23+ acre parcel on Westport Island with pond frontage.
      Rte #144 Main Rd, Westport Island, ME 04578
      View Details
    • New
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      Versatile 10-Acre Income Property

      10-acre Wiscasset property with rentals, orchard, and metal building.
      704 Gardiner Rd, Wiscasset, ME 04578
      View Details
    • $1,300,000
      6,248 SF

      Wiscasset Commercial Gem

      Historic building with commercial & residential spaces
      49 Water St, Wiscasset, ME 04578
      View Details
    • $1,645,000
      97.70 Acres

      Maine Waterfront Land For Sale

      97.7 acre Wiscasset land with 2,500 feet of pond frontage.
      Gibbs Rd, Wiscasset, ME 04578
      View Details
    View Listing
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    Wiscasset, ME 04578
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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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