Calling all investors and developers! This property is positioned in the heart of Augusta's Historic District. This distinctive mixed-use property overlooks the scenic Kennebec River at the north end of Water Street. Located within one of the city's key revitalization areas, the property represents a rare redevelopment and investment opportunity in Maine's capital city, where few comparable properties exist. The building use is a mix of commercial and residential space. The surrounding downtown continues to experience renewed energy and investment, highlighted by the ongoing restoration of the historic Colonial Theater just down the street -- a landmark project expected to further strengthen the area's cultural and economic growth. The current owner has made extensive improvements to the building, including new plumbing, electrical systems, framing, and new natural gas heating system, creating a strong foundation for future use. The south portion of the building spans 3 stories including an expansive open basement. The north side of the building has two stories of additional space, allowing for additional future upgrades. Whether envisioned for commercial, or mixed-use, this property offers exceptional potential and possibilities. Buyer is advised to check with the City of Augusta on commercial/residential uses of the property.