Freestanding Office with Wraparound
45 Portland Road, Gray, ME 04039
For Sale
$350,000
A paved parking area and compact interior layout support a single-occupant setup in a commercial zone.
Property Size720 SF
Price / SF$486.11
Days on Market1118
Property Features for 45 Portland Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
wrap around porch
entry/waiting area
break room
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Zachary Resnikoff
(207) 606-9665
Source:
Integrityhomesrealestategroup
Added: Oct 23, 2023
Changed: Nov 11
Last Checked: Nov 13 at 6:13PM
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
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Investment Insights
Based on property information with market context.
This freestanding office building, constructed in 1970, offers 720 square feet arranged with an entry and waiting area, two private offices, and a break room. A wraparound porch adds exterior space, while the recently paved parking lot supports vehicle access to and from the property.
The building sits on Routes 26 and 100, less than one mile from the Maine Turnpike and the village of Gray. Nearby businesses 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. Commercial zoning is in place.
The building sits on Routes 26 and 100, less than one mile from the Maine Turnpike and the village of Gray. Nearby businesses 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. Commercial zoning is in place.
Key Highlights
- 720‑square‑foot freestanding office building
- Two private offices, an entry and waiting area, and a break room
- Wraparound porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,308
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,160
$206.2K
Cap Rate 7%
$147,257
$147.3K
Cap Rate 9%
$114,533
$114.5K
Market Conditions
NOI Build-Up for 720 SF
Gross rent
$15.7K $21.84/SF
− Vacancy
−$2.0K −$2.75/SF
EGI
$13.7K $19.09/SF
− OpEx
−$3.4K −$4.77/SF
NOI
$10.3K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,160
Cap Rate 7%
$147,257
Cap Rate 9%
$114,533
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
181
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
$333,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Cumberland County, ME
Properties on Market for Office buildings in Cumberland County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A paved parking area and compact interior layout support a single-occupant setup in a commercial zone.
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: 720‑square‑foot freestanding office building; Two private offices, an entry and waiting area, and a break room; Wraparound porch
