11 Water ST, Damariscotta, ME 04543
11 Water ST, Damariscotta, ME 04543
11 Water ST, Damariscotta, ME 04543
11 Water ST, Damariscotta, ME 04543
11 Water ST, Damariscotta, ME 04543
11 Water ST, Damariscotta, ME 04543
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Colleen Lundgren, M.S.

Colleen Lundgren, M.S.

+1(207) 671-6026
Listed by Patti Brown Newcastle Realty
$ 995,000
Est. payment | /mo

2,364 SqFt

Save
$ 995,000
Est. payment | /mo
Save

2,364 SqFt

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 2,364 sqft

Price per Sqft $420

MLS Listing ID 1663826

Style Post & Beam

HOA Y/N No

Year Built 1803

Tax Year 2025

Lot Size 9,583 Sqft

Acres 0.22

Property Sub-Type Mixed Use

Source Maine Listings

Land Area 2364

Property Description

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.

Location

State ME

County Lincoln

Zoning C-1

Rooms

Basement Walk-Out Access, Finished, Full

Interior

Heating Electric, Baseboard, Heat Pump

Cooling Heat Pump

Flooring Carpet, Vinyl, Wood, Ceramic Tile

Exterior

Parking Features 5 - 10 Spaces, On Site

Roof Type Shingle

Building

Lot Description Business District, Near Shopping

Entry Level Multi-Level

Foundation Poured Concrete

Water Public

Others

Tax ID DAMA-000006-000000-000006

Maine MLS (MREIS) IDX

Nearby Locations

Colleen Lundgren, M.S.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(207) 671-6026

colleen@colleenlundgren.com

63 Federal St, Portland, ME 04101, USA

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11 Water ST