Courtesy: Newcastle Realty
207-563-1003
Well-maintained multi-tenant professional office building in a highly convenient Damariscotta location just off Route 1, benefiting from a newly constructed and nicely landscaped roundabout providing safe and efficient access. This attractive Cape-style structure offers three levels of finished office space, including a fully utilized lower level, with multiple private suites, common areas, and ample on-site parking. This is a Broker owned property. The property is currently configured as 11 individual office units serving a mix of professional and nonprofit tenants, providing stable income with additional upside. Rents are structured on a per-office basis and reflect strong per-square-foot performance. Situated on a generous 1.36± acre parcel in the C-2 commercial district, the building is positioned toward one side of the lot, offering potential for future expansion, additional structures, or reconfiguration of parking, subject to local approvals. Existing layout and access support continued use as professional office, counseling or medical space, or owner-user occupancy. An excellent opportunity for investors, medical or professional users, or buyers seeking a combination of current income and long-term flexibility in a desirable Midcoast Maine setting. This is a broker-owned property.
Courtesy: Newcastle Realty
207-563-1003
A rare opportunity to own a waterfront income-producing property in the heart of downtown Damariscotta. 11 Water Street combines four residential rental units, established income, significant recent improvements, on-site parking, and approximately 70 feet of frontage on the Damariscotta River. Situated directly in downtown Damariscotta, it is within easy walking distance of restaurants, shops, and galleries, offering an option that is exceptionally difficult to find. The building's layout and commercial zoning offer flexibility for an owner who may ultimately envision a different mix of residential, commercial, or mixed-use occupancy, creating the opportunity to acquire an established income-producing property today while retaining options for tomorrow. The significant work required to maintain and modernize an older property has already been completed, including updated electrical and plumbing systems, insulation, heat pumps, roofing and gutters, and a sprinkler system. The building has been thoughtfully renovated--including the addition of two large waterfront decks providing views of the harbor and wonderful sunsets--while retaining the character and architectural details that make it distinctive. Originally constructed in 1803, the building has served a variety of purposes over its long history and retains the character and presence of a historic downtown property. Today's buyer has the advantage of acquiring that character together with an established income-producing property and valuable waterfront location. For an investor looking for a property that combines current income, a premier downtown location, river frontage, multiple rental units, substantial improvements, and future flexibility, 11 Water Street presents an uncommon opportunity. It is a property with a story--but more importantly, it is a property with income, real estate fundamentals, and options for the future.
Damariscotta is located in Maine. Damariscotta, Maine has a population of 2,221. Damariscotta is less family-centric than the surrounding county with 23.03% of the households containing married families with children. The county average for households married with children is 23.29%.
The median household income in Damariscotta, Maine is $51,033. The median household income for the surrounding county is $62,121 compared to the national median of $69,021. The median age of people living in Damariscotta is 41.6 years.
The average high temperature in July is 77.3 degrees, with an average low temperature in January of 11.7 degrees. The average rainfall is approximately 48.2 inches per year, with 63.8 inches of snow per year.
