Falmouth Commercial Property For
133 Gray Road Falmouth, ME 04105
133 Gray Road, Falmouth, ME, 04105
$625,000
For Sale
$625,000
COMMERCIAL - Falmouth, ME
Property Size2,176 SF
Lot Size1.00 Acre
Price / SF$287.22
Days on Market54
Property Features for 133 Gray Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- VMU
- Rooms
- Basement
- Parking features
- Off Street
- Basement
- Walk-Out Access, Full, Unfinished
- Standard status
- Active
- Size
- 2,176 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5676
Utilities
- Heating system
- Heat Pump (Heating), Forced Air, Oil, Electric (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1910
- Flooring type
- Wood, Tile
- Building materials
- Wood Frame, Clapboard, Wood Siding
- Roof type
- Shingle
Listing Agency
Portside Real Estate Group
(207) 607-5965
59 Pleasant Street, Yarmouth, ME
Listed by
Sarah Singer Ellen Domingos
(207) 485-9955
Added: May 27 Checked: Jul 19 at 11:06 am
MLS# 1664063
Copyright © 2026 Maine Listings. 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.
Located in Falmouth's Village Mixed Use district, this commercial property presents an investment opportunity with immediate income and future flexibility. The building is currently leased to five office tenants and a pilates studio, providing a stable and diverse revenue stream. Constructed in 1910, the building retains classic architectural charm and period details. The flexible layout provides approximately 2,176 square feet across two levels, accommodating various uses. Situated on a 1-acre lot, the property includes a wrap-around driveway, ample on-site parking, water frontage on the Piscataqua River, and visibility. Village Mixed Use zoning permits a range of uses, making it suitable for business operations, continued office use, or future redevelopment, residential conversion, or expansion, subject to local approvals. Recent renovations include heat pumps, refinished hardwood floors, and fresh paint. The location offers proximity to retail amenities and dining, with access to I-95, the Falmouth Spur, and Portland.
Key Highlights
- Multi‑tenant commercial building in Falmouth’s Village Mixed Use district, leased to five office tenants plus a pilates studio
- Approximately 2,176 sqft across two levels with a flexible layout for a variety of uses
- Waterfront on the Piscataqua River with a wrap‑around driveway and ample on‑site parking; off‑street parking available
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.5k | $21.84 |
| − Vacancy | −$6.0k | −$2.75 |
| EGI | $41.5k | $19.09 |
| − OpEx | −$10.4k | −$4.77 |
| NOI | $31.2k | $14.32 |
2,176 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$445.0K
$389.4K – $519.2K
NOI $31,152 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$598.1K
$523.3K – $697.8K
NOI $41,865 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Versatile commercial property in Falmouth with income and future flexibility.
Where is this office building located?
The property is located at 133 Gray Road Falmouth, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Multi‑tenant commercial building in Falmouth’s Village Mixed Use district, leased to five office tenants plus a pilates studio; Approximately 2,176 sqft across two levels with a flexible layout for a variety of uses; Waterfront on the Piscataqua River with a wrap‑around driveway and ample on‑site parking; off‑street parking available
