Free-Standing Office Building with
45 Portland Road Gray, ME 04039
For Sale
$350,000
Single-user office building with a wrap-around porch, private offices, a break room, and recently paved parking.
Days on Market1011
Property Features for 45 Portland Road
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
Keller Williams Realty
(207) 606-9665
Listed By:
Zachary Resnikoff
(207) 606-9665
Source:
Startpoint
Added: Oct 23, 2023
Changed: Jul 28
Last Checked: Jul 28 at 5:46PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Free-standing commercial office building configured for a single user. The interior includes an entry/waiting area, two private offices, and a break room. The property also features a wrap-around porch. The parking lot was recently paved to support smoother egress in and out of the building.
Located on busy Routes 26/100, the property is less than one mile to the Maine Turnpike and the village of Gray. It sits within a commercial zone and benefits from a high traffic count on a major commuter route. Nearby businesses referenced include Big Apple, USPS, Gray Family Vision Center, Fishermen's Net, Tailgate Bar & Grill, Copp Equipment, Dollar Tree, TD Bank, Androscoggin Bank, Gray Shop n' Save, Cook's Ace Hardware, and Birchwood Brewing.
Located on busy Routes 26/100, the property is less than one mile to the Maine Turnpike and the village of Gray. It sits within a commercial zone and benefits from a high traffic count on a major commuter route. Nearby businesses referenced include Big Apple, USPS, Gray Family Vision Center, Fishermen's Net, Tailgate Bar & Grill, Copp Equipment, Dollar Tree, TD Bank, Androscoggin Bank, Gray Shop n' Save, Cook's Ace Hardware, and Birchwood Brewing.
Key Highlights
- Free‑standing commercial building built in 1970 on busy Routes 26/100, less than 1 mile to the Maine Turnpike and the village of Gray
- Single‑user layout with entry/waiting area, two private offices, and a break room
- Wrap‑around porch at the front of the building
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 | $15.7k | $21.84 |
| − Vacancy | −$2.0k | −$2.75 |
| EGI | $13.7k | $19.09 |
| − OpEx | −$3.4k | −$4.77 |
| NOI | $10.3k | $14.32 |
720 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$147.3K
$128.9K – $171.8K
NOI $10,308 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$197.9K
$173.2K – $230.9K
NOI $13,852 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Single-user office building with a wrap-around porch, private offices, a break room, and recently paved parking.
Where is this office building located?
The property is located at 45 Portland Road Gray, ME.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Free‑standing commercial building built in 1970 on busy Routes 26/100, less than 1 mile to the Maine Turnpike and the village of Gray; Single‑user layout with entry/waiting area, two private offices, and a break room; Wrap‑around porch at the front of the building
