45 Water Street, Waterville, ME 04901
sale
$175,000
|
Other
Courtesy Of Two Rivers Realty, LLC
P O Box 875, Bucksport, ME 04416
Positioned in the heart of downtown Waterville, 45 Water Street presents a compelling value-add investment opportunity with multiple income streams and significant upside potential. This 13,793 sq ft mixed-use asset was formerly operated as a bar and entertainment venue and is primed for repositioning or redevelopment. The ground-level commercial space offers a large open layout ideal for reactivation as a bar/restaurant, event venue, or conversion to retail, office, or multi-tenant commercial use. Its downtown location benefits from steady foot traffic and proximity to Waterville's ongoing revitalization. The property includes two existing apartments in the attached building, providing immediate income potential. Above the commercial space are two additional floors featuring multiple rooms and two bathrooms per level, offering a clear path to additional unit creation, short-term rental conversion, workforce housing, or boutique lodging. The property does require extensive repairs and updating, making it best suited for investors, developers, or experienced operators ready to execute a renovation or full repositioning strategy. Don't miss your chance to own a landmark property in Central Maine!
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Exterior Type: Clapboard
- Exterior Type: Vinyl Siding
- Exterior Type: Wood Frame
- Floor Covering: Wood
- Floor Covering: Hardwood
- Floor Covering: Carpet
- Heating System: Baseboard
- Heating System: Oil
- Heating System: Hot Water(Heating)
- MLSID: 1655268
- Roof Type: Shingle
- Rooms: Basement
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