Two-Unit Ranch
New
For Sale
$459,100
1 Sugar Maple, Gray, ME 04039
Residential Income, Gray, ME
Property Size1,884 SF
Lot Size1.84 Acres
Price / SF$243.68
Days on Market3
Property Features for 1 Sugar Maple
General Information
Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
Lot size
1.84 Acres
Amenities
decks
Listing Agency:
Keenan Auction Company, Inc.
Listed By:
Richard Keenan
(207) 885-5100
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 19 at 10:06AM
MLS# 11985485
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family ranch property contains 1,884+/- SF of gross living area across two units. Each residence includes four rooms, two bedrooms, one bathroom, and approximately 942+/- SF. The wood-frame building dates to circa 2005 and features vinyl exterior siding, an architectural shingle roof, hot-water baseboard heat, tile and laminate flooring, and two decks. A full basement provides approximately 1,904+/- SF, including 600+/- SF of finished area.
The property encompasses 1.84+/- acres with approximately 150'+/- feet of frontage on Rt. 100 and 345'+/- feet along Sugar Maple Road. The site is generally level before sloping toward the rear and is served by a gravel road, private water and sewer, and a shared well. The parcel is zoned Medium Density, located 3.2 miles from Gray and 1.8 miles from West Cumberland, and is scheduled for public auction on October 21, 2026.
The property encompasses 1.84+/- acres with approximately 150'+/- feet of frontage on Rt. 100 and 345'+/- feet along Sugar Maple Road. The site is generally level before sloping toward the rear and is served by a gravel road, private water and sewer, and a shared well. The parcel is zoned Medium Density, located 3.2 miles from Gray and 1.8 miles from West Cumberland, and is scheduled for public auction on October 21, 2026.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and 942+/- SF
- 1.84+/- acres with 150'+/- feet of frontage on Rt.100 and 345'+/- feet on Sugar Maple
- Full basement with 1,904+/- SF, including 600+/- SF finished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$665,860
$665.9K
Cap Rate 7%
$475,614
$475.6K
Cap Rate 9%
$369,922
$369.9K
Market Conditions
NOI Build-Up for 1,884 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.9K $27.00/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$47.6K $25.25/SF
− OpEx
−$14.3K −$7.57/SF
NOI
$33.3K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$665,860
Cap Rate 7%
$475,614
Cap Rate 9%
$369,922
Alternative Uses
Best Use
Multifamily LT 5
$475.6K
$416.2K – $554.9K
NOI $33,293 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$442.5K
$387.2K – $516.2K
NOI $30,974 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$517.8K
$453.1K – $604.1K
NOI $36,247 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 04039, ME
7,922
Population
4,265
Households
1.9
Avg Household Size
43
Median Age
46%
College-Educated
97%
High-School Grad
40.9 sq mi
ZIP Area
194
Density / Sq Mi
$94,284
Median Household Income
$55,646
Median Earnings
$1,321
Median Rent
$333,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units occupy a one-story wood-frame building with separate decks and full basement space.
Where is this duplex located?
The property is located at 1 Sugar Maple Gray, ME.
What is the asking price?
The asking price for this property is $459,100.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom, and 942+/- SF; 1.84+/- acres with 150'+/- feet of frontage on Rt.100 and 345'+/- feet on Sugar Maple; Full basement with 1,904+/- SF, including 600+/- SF finished
