Downtown Redevelopment Opportunity

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30810771
Property Subtypes: Free-Standing Building, Mixed Use, Post Office
Status: Pending
Building Size (RSF): 41,212 SF
Gross Building Area: See Agent
Sale Price: $2,650,000
Unit Price: $64.30 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Olde Federal Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 49
Last Updated: 9/6/2022

Overview / Comments

Iconic and historic, the Olde Federal Building presents a rare residential, hospitality/boutique hotel, or mixed-use redevelopment opportunity in Augusta’s growing downtown. 41,212± SF magnificent 4-story granite-faced property with slate and copper adorned roof is one of only a few buildings in the US with this degree of architecture and presence. Located on Water Street along the Kennebec River and within walking distance to restaurants/bars, shopping, and outdoor recreation. Building is listed on the National Register of Historic Places and is within Augusta’s historic district which makes it eligible for state and Federal Historic Tax Credits (HTC). Currently fit-up as a multitenanted office building with tenants including the United States Postal Service, State government entities, local businesses, and nationally affiliated companies.

Financials, Historical Tax Credit report, and additional property information available upon request.
www.OldeFederalBuilding.com

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Tax ID/APN: 11020_00033 00279 00000
Zoning: KBD 1
Property Visibility: Good
Largest Nearby Street: Water Street
Feet of Frontage: 340
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 4
Year Built: 1889
Construction/Siding: Granite
Exterior Description: Granite/masonry
Total Parking Spaces: 14
Passenger Elevators: 1
Heat Type: Natural Gas
Heat Source: Heat Pump
Zoning Description: Building is listed on the National Register of Historic Places and is within Augusta’s historic district which makes it eligible for state and Federal Historic Tax Credits (HTC)
Lot Frontage: 340
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,976 17,075 28,465
Median Age: 38.92 43.99 43.99
Households: 3,379 8,101 12,799

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