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    Prime Commercial Land in Medway, ME Title is generated by Realmo AI

    5 Grindstone Road, Medway, ME 04460

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    For Sale
    $124,900

    LAND - Medway, ME

    Lot size:
    1.46 Acres
    Added:
    Apr 22, 2026
    Days on Market:
    22
    Last Refresh:
    May 13 at 10:06 pm

    Property Features for 5 Grindstone Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Off Street
    Pets allowed
    No
    Standard status
    Active
    Lot size
    1.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1007

    Utilities

    Water source
    Private, Well
    Water front features
    Stream

    We can help!

    Listing Contact
    Lena Fiske
    Lena Fiske

    Listing agent Lena Fiske

    Listing office United Country Lifestyle Properties of Maine 113 West Broadway, Lincoln, ME

    Listing date Apr 22, 2026

    MLS# 1647694 Listing URL

    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.

    HighLights

    • Prime location at the intersection of Route 157 and Rt. 11, offering high visibility and easy access.
    • Proximity to Exit 244, Bangor (45 minutes), and the Canadian border (1 hour), attracting diverse traffic.
    • Positioned as "The Gateway to Baxter State Park", ideal for businesses catering to outdoor enthusiasts and tourism.
    • Essential utilities in place: power at the pole and a drilled well.
    • Gravel pad ready for development and septic designs available.
    • Versatile property suitable for a wide range of businesses (retail, restaurant, outdoor adventure, etc.).

    Overview

    This 1.46-acre commercial property is located at the intersection of Route 157 and Route 11 in Medway, Maine, approximately half a mile from Exit 244. The site benefits from high visibility and accessibility, situated 45 minutes from Bangor and one hour from the Canadian border. The property, previously used by various businesses, includes power at the pole and a drilled well. A gravel pad is in place, and septic designs are available for both large and small systems. A previous portable business occupies the site but will be removed. Medway is known as the 'Gateway to Baxter State Park,' making the location suitable for businesses catering to outdoor enthusiasts, with recreational trails adjacent to the property. The property is zoned commercial and offers flexibility for various industries, including retail, restaurants, outdoor adventure shops, or service-oriented businesses. This location is ideal for attracting traffic from various demographics and creating a lasting business within a region known for its beauty and outdoor activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grindstone BBQ Restaurant

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Medway
    County
    Penobscot
    State
    Maine
    Longitude
    -68.53296
    Latitude
    45.614024

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      Medway Waterfront Land For Sale

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      Waterfront Land on Penobscot River

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    FAQs

    What type of property is this?
    Commercial land - Commercial land near Baxter State Park, ideal for various businesses.
    Where is this commercial land located?
    The property is located at 5 Grindstone Road Medway, ME.
    What is the asking price?
    The asking price for this property is $124,900.
    What are key features of this property?
    This property features: Prime location at the intersection of Route 157 and Rt. 11, offering high visibility and easy access.; Proximity to Exit 244, Bangor (45 minutes), and the Canadian border (1 hour), attracting diverse traffic.; Positioned as "The Gateway to Baxter State Park", ideal for businesses catering to outdoor enthusiasts and tourism.
    (207) 794-6164
    We can help!
    Listing Contact
    Lena Fiske
    Lena Fiske
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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