Flex Space with Overhead
45 Gray Road, Chester, ME 04457
For Sale
$399,900
Acreage, office accommodations, and existing well and septic support a range of equipment-oriented commercial operations.
Property Size5,400 SF
Lot Size15.00 Acres
Price / SF$74.06
Days on Market325
Property Features for 45 Gray Road
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Outdoor Storage
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
United Country Lifestyle Properties of Maine
Listed By:
Philip McPhail II
(207) 794-6164
Source:
Integrityhomesrealestategroup
Added: Dec 22, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Country Lifestyle Properties of Maine
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Investment Insights
Based on property information with market context.
This 5,400-square-foot flex property includes a commercial building with shop space, a reception area, a conference room, and four 18-foot overhead doors. Built in 1992, the facility combines work and administrative areas. The 15±-acre parcel also contains a gravel pit, a well, and a septic system.
The property fronts Gray Road, with 522 feet of paved road frontage. It is 5.5± miles from I-95 Exit 218 and 6.6± miles from Lincoln’s business district. The site’s access and existing improvements support commercial operations with both indoor workspace and land area.
The property fronts Gray Road, with 522 feet of paved road frontage. It is 5.5± miles from I-95 Exit 218 and 6.6± miles from Lincoln’s business district. The site’s access and existing improvements support commercial operations with both indoor workspace and land area.
Key Highlights
- 5,400‑square‑foot commercial building built in 1992
- 15± acres with 522 feet of paved road frontage
- Four 18‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,809
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,180
$636.2K
Cap Rate 7%
$454,414
$454.4K
Cap Rate 9%
$353,433
$353.4K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$48.6K $9.00/SF
− Vacancy
−$3.2K −$0.59/SF
EGI
$45.4K $8.42/SF
− OpEx
−$13.6K −$2.52/SF
NOI
$31.8K $5.89/SF
Area
Penobscot County, ME
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,180
Cap Rate 7%
$454,414
Cap Rate 9%
$353,433
Alternative Uses
Best Use
Flex RnD
$665.3K
$582.1K – $776.2K
NOI $46,570 @ 7.0% cap · market cap 11.65%
Second Best
Industrial
$454.4K
$397.6K – $530.2K
NOI $31,809 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,083 @ 7.0% cap
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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04457, ME
5,689
Population
3,587
Households
1.6
Avg Household Size
48
Median Age
21%
College-Educated
94%
High-School Grad
258.8 sq mi
ZIP Area
22
Density / Sq Mi
$51,403
Median Household Income
$32,646
Median Earnings
$647
Median Rent
$126,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Penobscot County, ME
Properties on Market for Flex space in Penobscot County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Acreage, office accommodations, and existing well and septic support a range of equipment-oriented commercial operations.
Where is this flex space located?
The property is located at 45 Gray Road Chester, ME.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 5,400‑square‑foot commercial building built in 1992; 15± acres with 522 feet of paved road frontage; Four 18‑foot overhead doors
