257-271 Water Street, Augusta

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30085659
Property Subtypes: Mixed Use, Other
Building Size (RSF): 33,365 SF
Gross Building Area: See Agent
Gross Land Area: 0.19 Acres
Sale Price: $1,350,000
Unit Price: $40.46 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2017

Overview / Comments

We are pleased to offer this rare redevelopment opportunity in the heart of revitalized Downtown Augusta. The building complex consists of four (4) contiguous multi-story buildings totaling 33,365± SF with stunning Kennebec River views. All four buildings qualify for State and Federal Historic Tax Credits making this an ideal value-add development project.

The upper floors of the complex have been recently fully renovated as medical office space with extensive, up to date, plumbing and electrical services in place allowing for easy conversion to apartment use. The buildings include 8,270± SF of highly visible retail space on Water Street.

Attachments & Media

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $22,250 (Annual)

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Submarket/Township: Waterville/Augusta
Tax ID/APN: Map 34, Lot 40
Zoning: KBD1
Property Visibility: Excellent
Area Description: Centrally located in the Downtown District of Augusta just off Western Avenue and minutes from I-95.
Total Number of Buildings: 4
Year Built: 1800
Year Renovated: 1990
Construction/Siding: Stone
Parking Type: Surface
Parking Description: Available in adjacent City of Augusta lots.
Passenger Elevators: 4
Sprinklers: Other
Heat Type: Natural Gas
Heat Source: Heat Pump
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,976 17,075 27,681
Median Age: 38.92 43.99 44.02
Households: 3,379 8,101 12,449
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