Courtesy: McAllister Real Estate
207-621-2345
Exceptional Downtown Hallowell Investment Opportunity 154 & 152 Water Street are being offered together, presenting a rare opportunity to own two of the most prominent and recognizable buildings in the heart of downtown Hallowell. Featuring stunning historic cast-iron storefronts, these landmark properties offer outstanding visibility, character, and endless potential. With approximately 50 feet of owned frontage on the Kennebec River, this unique offering combines iconic downtown real estate with the rarity of waterfront ownership. Large rear decks overlook the river, creating an exceptional setting for restaurants, offices, residential units, or gathering spaces with breathtaking water views. The spacious commercial storefronts are ideal for retail, restaurant, office, gallery, or professional use, while the upper floors present an excellent opportunity for apartments, short-term rentals, offices, or additional commercial space. Recent improvements include new roofs on both buildings, new rear decks, and many new windows that have already been installed. Inside, you'll find beautiful hardwood floors, abundant natural light from oversized display windows, and the timeless craftsmanship that makes these buildings truly special. Whether you're an investor, entrepreneur, or developer, this is a once-in-a-generation opportunity to acquire two historic downtown buildings, 50 feet of owned Kennebec River frontage, and exceptional income and redevelopment potential, all in the center of one of Maine's most vibrant and sought-after downtown communities.
Courtesy: LAER
207-622-2220
INVESTORS TAKE NOTE!! Beautifully maintained professional building intown desirable Hallowell. New Roof April 2026. First floor anchor tenant is an extremely successful family practice with rock solid lease. The second and third floors have five tenants with tremendous growth potential. All 5 tenants pay extremely low rents but are very solid. The real estate has stunning curb appeal, new cedar siding on two sides, a paved parking lot with 6+ spaces, wheelchair accessible ramp, great visibility and so much more. It's a great place to park your money or for a 1031 tax free exchange. 7% cap rate
Hallowell is located in Maine. Hallowell, Maine has a population of 2,542. Hallowell is less family-centric than the surrounding county with 23.04% of the households containing married families with children. The county average for households married with children is 24.69%.
The median household income in Hallowell, Maine is $57,250. The median household income for the surrounding county is $58,097 compared to the national median of $69,021. The median age of people living in Hallowell is 42 years.
The average high temperature in July is 78.8 degrees, with an average low temperature in January of 10.2 degrees. The average rainfall is approximately 45.1 inches per year, with 69.3 inches of snow per year.
