The only traditional watermill that survives in Goumenissa is located at the western exit of the city, on the road to Griva. The Watermill of the Giapatzis family, built in the middle of the 19th century, operated from 1860 until the 1970s when it stopped producing flour and continued for a few years grinding feed.

After the production stopped, it was restored by descendants of the Giapatzis family and since 2008 it can be visited. The watermill is very well maintained and, apart from its value as a unique traditional architectural monument of the area, it functions as a beautiful time machine, as the elegant restoration has highlighted the entire traditional production process.