Building Details

Building Size 3,668 SF

Year Built 2004

Stories 1

Tenancy Multi

Listing Agency: EXP Realty m***@exprealty.net Show Phone

Listed By: Amy Landry Show Phone

Source: Amerorealty

Added: Sep 18, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:18PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,668-square-foot mixed-use property contains three single-level office and retail units. Each unit has a private front entrance with a mudroom, office space, a bathroom, and rear building access. The property was built in 2004 and sits on 2.7 acres, with zoning designated Business Dev.

Highway access is available, and the reported daily traffic count is 8,000. The site also has parking and is described as designed to accommodate future building expansion.

Key Highlights

• Three single‑level office/retail units in a 3,668‑square‑foot property
• 2.7‑acre site with parking and capacity for future building expansion
• Each unit includes a private front entry, mudroom, office, bathroom, and rear access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,557

Cap Rate

5.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$911,140 $911.1K

Cap Rate 7%

$650,814 $650.8K

Cap Rate 9%

$506,189 $506.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,668 SF

Gross rent

$79.2K $21.60/SF

− Vacancy

−$6.3K −$1.73/SF

EGI

$72.9K $19.87/SF

− OpEx

−$27.3K −$7.45/SF

NOI

$45.6K $12.42/SF

Area

Cumberland County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$911,140

Cap Rate 7%

$650,814

Cap Rate 9%

$506,189

Alternative Uses

Best Use

Mixed Use

$650.8K

$569.5K – $759.3K (±1% cap)

NOI $45,557 @ 7.0% cap · market cap 5.37%

Second Best

Retail

$548.0K

$479.5K – $639.3K (±1% cap)

NOI $38,360 @ 7.0% cap · market cap 4.52%

Theoretical Best

Office A

$1.01M

$882.1K – $1.18M (±1% cap)

NOI $70,571 @ 7.0% cap · market cap 8.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Gray Chiropractic Center Alternative Medicine Practice Chris J. Dombrowski, ... Alternative Medicine Practice John Couture - State ... Insurance Agency Edward Jones - Financial ... Financial Advisor Frances P. Dombrowski, ... Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage Bakery (Bike/Boat/Book/etc) Store Auto Parts Store Electrical Service Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8,000 VPD

Traffic count

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

88

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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Each unit has a private front entrance, office area, bathroom, mudroom, and rear building access.

Where is this mixed-use property located?

The property is located at 2 McConkey Road Gray, ME.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: Three single‑level office/retail units in a 3,668‑square‑foot property; 2.7‑acre site with parking and capacity for future building expansion; Each unit includes a private front entry, mudroom, office, bathroom, and rear access