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 repairs and updating, making it best suited for investors, developers, or experienced operators ready to execute a renovation or full repositioning strategy.
Major renovations completed in 2020 make this a turnkey investment with no significant deferred maintenance concerns for years to come. The first floor offers a retail space on Main Street with excellent visibility, while the fully furnished second and third floor apartments have been successfully operated as short term rentals with strong demand, a proven track record, and future bookings already extending into 2027. Considered a guest favorite on Airbnb with seventeen 5 star reviews. Located across from the Opera House and just minutes from Colby College and Thomas College, this ideally situated property appeals to visitors, college parents, and downtown guests alike. Set in the heart of Waterville's expanding downtown, this is a strong mixed use investment opportunity with multiple income streams.
Turnkey mixed use investment with strong rental income and a stable tenant base. The property includes a salon, title company, two room general office space, and two updated residential apartments. Basement level offers an overhead door and separate entry, creating added value for storage, vehicle space, or potential additional lease income. Plenty of off street parking, high visibility near downtown, and easy highway access make this an attractive opportunity for both tenants and investors. Well maintained and income producing, this property offers cash flow with additional upside.
Located on Main Street in the center of downtown Waterville, 225 Main Street offers a versatile investment opportunity with both commercial and residential income potential. The street-level commercial space benefits from strong visibility, steady foot traffic, and an established in-town presence. Above, you'll find a vacant residential unit ready for occupancy or lease -- providing immediate upside for investors or the opportunity for an owner-occupant to live above their business. This property is ideal for investors seeking a mixed-use addition to their portfolio, entrepreneurs looking to control their operating space, or buyers looking to capitalize on Waterville's continued downtown growth and revitalization. Convenient to restaurants, shops, and local amenities, this is a rare opportunity to secure a Main Street property at an exceptional value.
Prime commercial property in the heart of Waterville. This property has been a family owned used car dealership for over 50 years. Not only does this property possess two in-town lots with plenty of parking, it also has road access on Kennedy Memorial Drive and Sawyer Street for easy access. Conveniently located near close to I-95 it offers a tremendous opportunity for retail sales and auto service. Property is adjacent to Aroma Joes and offers easy access to JFK Plaza where you will find popular chains like Hannaford and Tractor Supply. Bring your ideas to the City of Waterville for approval and take advantage of this rare opportunity to locate your business in a prime retail area.
Corporate-backed Walgreens located at 210 Main Street in Waterville, Maine. The 14,673-square-foot building was constructed in 2009 and sits on a 2.23-acre parcel along a primary commercial corridor. The tenant has multiple extension options, offering long-term occupancy stability backed by a nationally recognized operator. Waterville serves as a regional hub for Central Maine, supported by ongoing investment, downtown revitalization, and expanding healthcare and education sectors. The presence of Colby College and Thomas College contributes to a stable workforce and consistent consumer demand. The property's strategic location and strong tenancy position it as a dependable, long-term investment opportunity.
Centrally located just a short stroll from downtown Waterville, 2 Park Place offers investors and owner‑occupants a rare blend of visibility, convenience, and stability. The fully occupied, multi tenant office building features ample off‑street parking and modern, low maintenance systems making it a true turn key asset and an excellent 1031 exchange candidate. Flexible floor plans allow an end user to occupy all or part of the space while generating income from the remaining suites, offsetting operating costs from day one. Walkable amenities, quick access to I 95, and a proven rental history keep demand high and vacancies low. Position your portfolio or your own business for long term success in this thriving, in town location.
36 Silver Street presents a solid investment opportunity in a strong Waterville location. Currently configured to support income-producing use, this property offers flexible space well suited for residential rental, professional offices, or mixed-use potential (buyer to verify their preferred use). Located just steps from Main Street and downtown Waterville, and minutes from Colby College, and major corridors, the property benefits from consistent rental demand and convenient access to services, dining, and cultural events. Features include a functional layout, with potential for more residential rental units and ample on-site parking. Ideal for investors seeking commercial and/or residential rental opportunities, or owner-occupied business use. Listed as a multi family #1650401
Commercial opportunity situated on 1.92 acres, formerly home to the American Legion Hall. The property features three private office/mixed-use suites and a spacious outdoor canopy ideal for gatherings and events. With a rich local history and versatile layout, this site offers endless potential for office, event, community, or special-use purposes. Ready for a new vision to make it your own. Taxes are low due to non-profit status of occupant. Actual taxes to be determined.
Extremely well maintained office building on desirable Kennedy Memorial Drive. This visible building features 3 floors of office condominiums. Each floor has 2 condominium units with 2 bathrooms per unit. Handicap accessible with a common elevator, brick siding, large parking lot. extremely well maintained. Ideal for owner occupied or landlord. Building is for sale OR lease and seller will consider owner financing to a qualified buyer.
Rare Opportunity in the Heart of Downtown Waterville! Own a piece of history - formerly the Al Corey Music Center. This 4-story commercial building located on Main Street offers endless potential for retail, office, or mixed-use development. Whether you're an investor, entrepreneur, or developer, this is your chance to bring new life to one of Waterville's most recognizable historic buildings. Opportunities like this don't come around often - make it your own and be part of downtown's vibrant revival!
The Seton Project in Waterville, Maine, offers a prime redevelopment opportunity. Formerly a hospital campus, the property received approvals to develop a 56-68 unit multifamily community with 35,000± square feet of commercial space. Since 2013, hundreds of thousands of dollars have been invested in environmental remediation and soft costs, leaving the site fully cleared and ready for advancement. A comprehensive due diligence package is included, with construction drawings, market studies, feasibility reports, prior tax credit approvals, and environmental clearances. With utilities in place, paved roadways, and acres of impervious surface, buyers can avoid millions in predevelopment costs and years of permitting. Additional acreage supports potential single-family or multifamily expansion. Flexible SMU zoning allows a range of uses—multifamily, industrial, or commercial—giving developers the option to pursue the approved mixed-use plan or adapt to market demand. Seller-provided financing may be available to qualified buyers. With approvals, infrastructure, due diligence, zoning flexibility, and expansion potential, the Seton Project stands out as a shovel-ready opportunity in a growing Central Maine market.
Are you searching for a high-visibility location for your business or a rock solid investment in one of Waterville's busiest corridors? This property on College Avenue delivers both. With plenty of parking and a right of way onto Walnut Street, it offers unbeatable flexibility. The building has already been home to several successful businesses and is ready to be transformed into its next thriving venture. Upstairs you'll find a two bedroom apartment that's currently rented, adding steady income. Whether you want to live above your business, use the entire space for your operation, or simply secure a prime investment, this property checks the boxes. Surrounded by thriving businesses and just minutes from downtown, Colby College, Thomas College, MaineGeneral, and I-95, the location couldn't be better. The possibilities are endless whether you're an entrepreneur launching your vision, an established owner looking to expand, or an investor seeking high demand commercial real estate. Opportunities like this rarely come along. Claim your spot in one of Central Maine's most sought after locations today.
This 4,000± SF single-story retail/flex building sits on 0.35± acres in downtown Waterville. The property combines retail frontage with warehouse functionality, featuring high ceilings, an overhead door, and outdoor storage space. Key improvements include a rubber roof installed in 2020 and 480-amp, 3-phase power to support a wide range of uses. The site offers 25± paved parking spaces and excellent access for loading/unloading. Located in a busy commercial corridor, the property is minutes from I-95 and surrounded by established businesses and residential neighborhoods. Zoned Commercial-A (C-A), it allows for a variety of uses. The building will be delivered vacant.
Don't miss this exceptional opportunity to own a well-maintained, high-visibility property perfect for a variety of professional or medical uses. Formerly an optometrist's office, the flexible floor plan easily adapts to your business needs. Recent updates throughout add modern appeal and functionality. Upstairs, two apartments offer a source of rental income, complete with a generous private deck for outdoor enjoyment. Ample onsite parking ensures convenient access for clients, patients, or tenants. This versatile property combines income potential with outstanding location—schedule your private showing today!
This property offers a fantastic opportunity for businesses looking to establish themselves in the heart of Waterville. With ample parking and over 10,000 SF of office and conference room space, this property is geared towards many uses. Formerly the Marden Dubord Law Office.


Waterville is located in Maine. Waterville, Maine has a population of 15,872. Waterville is less family-centric than the surrounding county with 20.18% of the households containing married families with children. The county average for households married with children is 24.69%.
The median household income in Waterville, Maine is $41,245. 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 Waterville is 35.7 years.
The average high temperature in July is 79.5 degrees, with an average low temperature in January of 8.1 degrees. The average rainfall is approximately 44.8 inches per year, with 71.2 inches of snow per year.