, Waterville, ME 04901 (MLS# 1658626)

Waterville, ME 04901

New Listing

$1,900,000

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Property Type: Commercial Square Footage: 9,829 Lot Size (sq. ft.): 38,768 Status: Active

Current Price: $1,900,000 List Date: 4/21/2026 Last Modified: 4/22/2026

Overview

Description

80 to 88 Elm Street in Waterville offers an outstanding multifamily and commercial opportunity with scale. The property includes three buildings totaling 22 apartment units, plus approximately 2,000 square feet of commercial warehouse space, and a standalone laundromat with a long term lease in place. Located just off downtown Waterville and within Waterville's Opportunity Zone, this asset provides multiple paths to increase income and long term value. Significant recent capital improvements have already been completed, including new separately metered natural gas Rinnai heaters in all 22 apartments, a new roof on 88 Elm St, new gas commercial hot water heaters, and approximately half of the residential units have been recently renovated. Separate electrical meters are also in place. With separate heat and electric metering, a buyer may be able to transition the apartments toward resident paid utilities over time, improving expense control and net operating income. A large shared pa ... (Read more)

Listing Details MLS# 1658626

Location Information

County: Kennebec
Town: Waterville
State/Province: ME
Zip Code: 04901
Leased Land: No
Book: 15269
Page: 151
Map: 48
Lot: 249
Zoning: CA
Tree Growth Y/N: No
Association Y/N: No

Contract Information

Original List Price: 1900000

Property Information

Primary Use: Multi Family
Surveyed: No
SqFt Finished Total: 9829
Lot Size Acres +/-: 0.89

Commercial Bldg Information

Gross Income: 270984
Operating Expenses: 88876
Total Units: 24

Utilities

Utilities On: Yes

Location

Downtown: Yes
Near Shopping: Yes
Near Turnpike/Interstate: Yes

More Information

Property Uses

Commercial: Yes
Other: Yes

Basement

Full: Yes
Unfinished: Yes
Walk-Out Access: Yes

Exterior

Vinyl Siding: Yes

Roof

Flat: Yes
Metal: Yes
Shingle: Yes

Heat System

Direct Vent Heater: Yes
Zoned: Yes

Heat Fuel

Gas Natural: Yes

Cooling

None: Yes

Floors

Carpet: Yes
Luxury Vinyl: Yes
Vinyl: Yes
Wood: Yes

Parking

21+ Spaces: Yes

Electric

Circuit Breakers: Yes
Fuses: Yes
Other Electric: Yes

Gas

Natural - On Site: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Property Features

Location: Downtown; Near Shopping; Near Turnpike/Interstate Property Uses: Commercial; Other Basement: Full; Unfinished; Walk-Out Access Exterior: Vinyl Siding Roof: Flat; Metal; Shingle Heat System: Direct Vent Heater; Zoned Heat Fuel: Gas Natural Cooling: None Floors: Carpet; Luxury Vinyl; Vinyl; Wood Parking: 21+ Spaces Electric: Circuit Breakers; Fuses; Other Electric Gas: Natural - On Site Sewer: Public Sewer Water: Public

IDX

Listing Office: New England Realty Group LLC

Last Updated: April - 22 - 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 ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.