| Up North Realty Maine

45 Water Street, Waterville, ME 04901 (MLS# 1655268)

45 Water Street, Waterville, ME 04901

$175,000
Property Type: Commercial Square Footage: 13,793 Lot Size (sq. ft.): 10,454 Status: Active
Current Price: $175,000 List Date: 3/24/2026 Last Modified: 3/25/2026

Overview

Description

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 r ...

Listing Details MLS# 1655268

Location Information

Street #
45
Street Name
Water
Street Type
Street
County
Kennebec
Town
Waterville
State/Province
ME
Zip Code
04901
Zip +4
6433
Leased Land
No
Book
15480
Page
166
Map
44
Lot
275
Zoning
CC
Zoning Overlay
Unknown
Full Tax Amount $
7262
Tax Year
2025
Tree Growth Y/N
No
Association Y/N
No

Contract Information

Original List Price
175000

Property Information

Primary Use
Mixed Use
Surveyed
Unknown
Deed
All
Year Built
1920
Total # Floors
3
SqFt Finished Total
13793
Lot Size Acres +/-
0.24

Levels

Multi-Level
Yes

Location

Business District
Yes
Downtown
Yes
Near Turnpike/Interstate
Yes

Property Uses

Bar/Tavern/Lounge
Yes
Commercial
Yes
Other
Yes

More Information

Construction

Wood Frame
Yes

Basement

Full
Yes
Unfinished
Yes

Foundation Materials

Poured Concrete
Yes

Exterior

Clapboard
Yes
Vinyl Siding
Yes

Roof

Shingle
Yes

Heat System

Baseboard
Yes
Hot Water
Yes

Heat Fuel

Oil
Yes

Floors

Carpet
Yes
Hardwood
Yes
Wood
Yes

Building Features

Cable
Yes
Internet Access Available
Yes
Storage
Yes

Parking

5 - 10 Spaces
Yes
Paved
Yes

Electric

Circuit Breakers
Yes
Fuses
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Property Features

Location: Business District; Downtown; Near Turnpike/Interstate Construction: Wood Frame Levels: Multi-Level Property Uses: Bar/Tavern/Lounge; Commercial; Other Basement: Full; Unfinished Foundation Materials: Poured Concrete Exterior: Clapboard; Vinyl Siding Roof: Shingle Heat System: Baseboard; Hot Water Heat Fuel: Oil Floors: Carpet; Hardwood; Wood Building Features: Cable; Internet Access Available; Storage Parking: 5 - 10 Spaces; Paved Electric: Circuit Breakers; Fuses Sewer: Public Sewer Water: Public

Documents

Listing Office: Two Rivers Realty, LLC
IDX
Last Updated: March - 25 - 2026
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. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
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