152-154 Water Street

About this home

Exceptional Downtown Hallowell Investment Opportunity 154 & 152 Water Street are being offered together, presenting a rare opportunity to own two of the most prominent and recognizable buildings in the heart of downtown Hallowell. Featuring stunning historic cast-iron storefronts, these landmark properties offer outstanding visibility, character, and endless potential. With approximately 50 feet of owned frontage on the Kennebec River, this unique offering combines iconic downtown real estate with the rarity of waterfront ownership. Large rear decks overlook the river, creating an exceptional setting for restaurants, offices, residential units, or gathering spaces with breathtaking water views. The spacious commercial storefronts are ideal for retail, restaurant, office, gallery, or professional use, while the upper floors present an excellent opportunity for apartments, short-term rentals, offices, or additional commercial space. Recent improvements include new roofs on both buildings, new rear decks, and many new windows that have already been installed. Inside, you'll find beautiful hardwood floors, abundant natural light from oversized display windows, and the timeless craftsmanship that makes these buildings truly special. Whether you're an investor, entrepreneur, or developer, this is a once-in-a-generation opportunity to acquire two historic downtown buildings, 50 feet of owned Kennebec River frontage, and exceptional income and redevelopment potential, all in the center of one of Maine's most vibrant and sought-after downtown communities.