244 Water Street: Downtown Augusta investment opportunity
Office
for Sale
| Catylist Listing ID: |
30541143 |
| Property Subtypes: |
Office Building, Other, General
|
| Building Size (RSF): |
10,260 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.12 Acres
|
| Sale Price: |
$1,000,000 |
| Unit Price: |
$97.47 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment |
| Building Name: |
244 Water St |
| Class of Space: |
Class B |
| Sale Terms: |
Cash to Seller |
| Last Updated: |
11/23/2020 |
Overview / Comments
|
244 Water Street is a two-story turnkey office building, formerly home to Maine Department of Health and Human Services and various Maine banking institutions. The first floor has a registration area, two conference/meeting rooms, large windows and high ceilings, and is complete with an ornate vault room (with additional vaults and lock-boxes, including payment dropbox in the basement). First floor also includes storage area, server/telecoms room and meeting space. Operational passenger elevator serves floors 1 & 2. Second floor includes large kitchen/lounge area, large open office area, second open office area, three individual offices and 2 storage rooms. Optional inclusion of cubicles (not shown in photos). Basement is dry, perfect for additional storage space. Building is sprinkled, 1 hour fire ratings in the enclosed egress leading from the stairwells and elevator shaft. Can be sold by itself, or contact broker for more information on the Augusta Opportunity Zone portfolio, including 187, 189, 211, and 244 Water Street. Owner encourages interested parties to make an offer.
|
Additional Details
| Nearest MSA: |
Augusta-Waterville |
| County: |
Kennebec |
| Taxing Authority: |
City of Augusta |
| Tax ID/APN: |
00034 00057 00000 |
| Zoning: |
KBD1 |
| Property Located Between: |
Corner of Oak and Water Street |
| Property Visibility: |
Excellent |
| Highway Access: |
From I-95: Take Exit 109/U.S. 202 E toward Augusta. Continue on US-202 E/Western Ave for about 1.5 miles miles. At the traffic circle, take the 3rd exit onto Water St (right lane). Destination will be on the left at the corner of Oak Street and Water St. |
| Airports: |
Portland International Jetport, KWVL - Waterville Robert LaFleur Airport |
| Site Description: |
Site is bound by Water Street, Oak Street and Commercial Street, with frontage on all three sides. Possible historic tax credit project. In an Opportunity Zone. |
| Area Description: |
Get in on the ground floor of downtown Augusta’s revitalization! Maine’s Capital City has recently reverted Water St back to a two-way road, increasing business and retail activity. Downtown investments include new housing units and restaurants such as Cushnoc Brewing, The Oak Table & Bar and soon to be State Lunch. Water St is also home to the University of Maine at Augusta Architecture and Art Programs, the offices of Women, Work, and Community, and an art gallery. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Typical SF / Floor: |
5,130 SF |
| Year Built: |
1960 |
| Year Renovated: |
2004 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick, Concrete, Granite |
| Parking Description: |
On street parking |
| Passenger Elevators: |
1 |
| Sprinklers: |
Wet |
| Heat Type: |
Natural Gas, Hot Water |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Zoning Description: |
KBD1 allows a variety of commercial and some industrial uses.
Hotel/Motel | Yes
Grocery | Yes
Governmental|Yes
Retail | Yes
Restaurant | Yes
Executive Suites | Yes
Convenience Store | Yes
Commercial | Yes
Office Building | Yes
Bed and Breakfast | Yes
Bar/Tavern/Lounge | Yes |
| Lot Frontage: |
95 |
| Lot Depth: |
54 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
6,976 |
17,075 |
27,681 |
| Median Age: |
38.92 |
43.99 |
44.02 |
| Households: |
3,379 |
8,101 |
12,449 |
|
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