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… Read More 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. Read Less
Courtesy of Two Rivers Realty, LLC 207-469-9930
Listing Snapshot
Days Online
22
Last Updated
Property Type
Mixed Use
Square Ft.
13,793
Lot Size
0.24 Acres
Year Built
1920
MLS Number
1655268
Additional Details
Utilities
Water Source: "Public", Electric: "Fuses", "Circuit Breakers"
Basement
Basement: "Full", "Unfinished"
Building
Building Area Total: 13,793, Construction Materials: "Vinyl Siding", "Clapboard", "Wood Frame", Year Built: 1920, 3 stories
Exterior Features
Other Equipment: "Internet Access Available", "Cable"
Floors
Flooring: "Wood", "Carpet"
Foundation
Foundation Details: "Concrete Perimeter"
Heating
Heating: "Hot Water", "Baseboard", Heating Included
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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