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E&V Casco Bay Team

cascobay@engelvoelkers.com +1(207) 833-0500

Listed by Patti Brown Newcastle Realty

$ 995,000

Est. payment -/mo

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Active

11 Water ST Damariscotta, ME 04543

5 Baths

2,724 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,724 sqft

Price per Sqft $365

MLS Listing ID 1663212

Style Post & Beam

Full Baths 4

HOA Y/N No

Year Built 1803

Tax Year 2025

Lot Size 9,583 Sqft

Acres 0.22

Source Maine Listings

Land Area 2724

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

Body of Water Damariscotta River

Rooms

Basement Interior Entry, Walk-Out Access, Finished, Full

Interior

Heating Electric, Baseboard, Heat Pump

Cooling Heat Pump

Flooring Carpet, Vinyl, Wood, Ceramic Tile

Equipment Internet Access Available

Furnishings Partially

Exterior

Parking Features Common, 5 - 10 Spaces, On Site

View Scenic

Roof Type Shingle

Porch Deck, Patio

Garage No

Building

Lot Description Business District, Intown, Near Shopping, Corner Lot, Open Lot, Rolling Slope, Near Public Transit

Entry Level Multi-Level

Foundation Poured Concrete

Water Public

Architectural Style Federal

Others

Tax ID DAMA-000006-000000-000006

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E&V Casco Bay Team

Group

+1(207) 833-0500

E&V Casco Bay Team

11 Water ST Damariscotta, ME 04543

Key Details

Location

Rooms

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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11 Water ST