45 Water St

Waterville, ME 04901

$175,000
Price
—
Beds
—
Baths
13,793 Sq. Ft.
$13 / Sq. Ft.
13,793
Sq. Ft.
$13
per Sq. Ft.
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Water Street Side
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Description

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....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.
  1. Listed by Kyle McGeechan • Two Rivers Realty, LLC

Property Details for 45 Water Street

Zoning
CC
LISTING UPDATED: 03/24/2026 08:08 PM

Property Details for 45 Water Street

StatusActive
MLS #1655268
Days on Market4
Taxes$7,262 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial / Mixed Use
Year Built1920
Lot Size0.24 AC / 10,454 SF
CountyKennebec County
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Location

Listing Courtesy of Two Rivers Realty, LLC
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Building Information for 45 Water Street

Stories3Residences-Year Built1920Lot Size0.24 AC / 10,454 SF

Payment Calculator

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$1,454 per month

30 year fixed, 6.11% Interest

Principal and Interest

$849

Property Taxes

$605

HOA Dues

$0

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Property Information for 45 Water Street

Summary
Location and General Information
  • Zip Code: 6433
  • Directions: GPS Friendly - Formerly ''The Chez'' Bar and lounge.
  • Town: Waterville
  • State/Province: ME
  • Zip Code: 04901
  • County: Kennebec
  • Geo Latitude: 44.544935
  • Geo Longitude: -69.632942
  • Tax Lot: 275
  • Location:Business District: Yes
  • Location:Downtown: Yes
  • Location:Near Turnpike/Interstate: Yes
Parking
  • Parking Features: 5 - 10 Spaces, Paved
Taxes and HOA Information
  • Tax Book Number: 15480
  • Tax Map Number: 44
  • Tax Year: 2025
  • Parcel Number: WAVL-000044-000000-000275
  • Location Information:Association Y/N: No
  • Tax Annual Amount: $7,262.00
Property
Lot Information
  • Lot Size Acres: 0.24
  • Building Area Total: 13793.0
  • Lot Size Area: 0.24
  • Lot Size Units: Acres
  • Lot Size Square Feet: 10454.4
  • Street Number: 45
  • Property Information:Surveyed: Unknown
  • Property Information:Deed: All
  • Property Information:Total # Floors: 3.00
Property and Assessments
  • Sign on Property: Yes
  • Leased Land: No
  • Property Type: Commercial
  • Property Type Label: Commercial
  • Property Sub-Type: Mixed Use
  • Year Built: 1920
Utilities
  • Electric: Fuses, Circuit Breakers
  • Sewer: Public Sewer
  • Water Source: Public
  • Other Equipment: Internet Access Available, Cable
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding, Clapboard, Wood Frame
  • Roof: Shingle
Interior Features
  • Basement: Full, Unfinished
  • Flooring: Wood, Carpet
  • Interior Features: Storage
  • Heating: Hot Water, Baseboard
  • Foundation Details: Concrete Perimeter
  • # Floors: 3
  • Bathrooms Total (Integer): 0
  • Bathrooms Total (Decimal): .00
  • Bathrooms Total (Notational): .00
  • Heating YN: Yes

Property History for 45 Water Street

DateEvent & SourcePriceAppreciation
Mar 23, 2026

Listed (Active)

Maine Listings #1655268

$175,000—
DateEvent & SourcePrice
03/23/2026

Listed (Active)

Maine Listings #1655268

$175,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 45 Water Street

Taxable ValueLand$41,900Additions$385,300Total$427,200
Tax Record2025$7,262 ($605 / month)
Home Facts
Baths2Total Finished SqFt9,775 SqFtAbove Grade Finished SqFt9,775 SqFtStories3Lot Size10,454 SqFtStyleDepartment StoreYear Built1920CountyKENNEBECAPNWAVL M:044 B:275

Schools near 45 Water Street

This home is within Waterville Public Schools.
Rating
School
Type
Grades
Distance
George J Mitchell School
Public - PK to 3
Albert S Hall School
Public - 4 to 5
Waterville Junior High School
Public - 6 to 8
Waterville Senior High School
Public - 9 to 12
Rating
School
Distance
George J Mitchell School
PublicPK to 3

Albert S Hall School
Public4 to 5

Waterville Junior High School
Public6 to 8

Waterville Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 45 Water Street, Waterville, ME 04901

45 Water Street is a mixed use property for sale in Waterville, ME 04901. This property was listed for sale on March 23, 2026 by Two Rivers Realty, LLC, it's currently listed at $175,000. This listing's school district is Waterville Public Schools. Nearby schools include George J Mitchell School, Albert S Hall School and Waterville Junior High School. 45 Water Street is a 0-bed, 0-bath, 13,793 sqft mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Two Rivers Realty, LLC

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. © 2022 Maine Real Estate Information System, Inc. All Rights Reserved.