Mixed-Use Property with ICF
For Sale
$1,550,000
82 Gray & 59 Leighton Road, Falmouth, ME 04105
Corner property with two lots, public utilities, and partially completed structures supporting multiple commercial and residential possibilities.
Property Size6,000 SF
Days on Market350
Property Features for 82 Gray & 59 Leighton Road
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
VMU
Taxes and HOA fees
Annual Taxes
$10,518
Building Details
Building Size
6,000 SF
Stories
3
Listing Agency:
Pine Tree Realty of Maine
(207) 838-8130
Listed By:
Ann Marie Thompson
(207) 838-8130
Source:
Startpoint
Added: Sep 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:43PM
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 Pine Tree Realty of Maine
Investment Insights
Based on property information with market context.
This mixed-use property combines two separately conveyed lots with individual driveway entrances and approval for additional access. Improvements include a partially completed 4,000+ SF insulated concrete form building with two planned floors, a full basement, concrete first and second floors, and a main level configured for truck drive-in unloading. The basement was designed for business inventory storage, while the upper level was planned for a two-unit dwelling. Windows and other completion materials are already on site. A separate 1,260 SF Cape-style home includes 3-4 bedrooms, 2 baths, and a detached garage; it is described as move-in ready or adaptable to a small professional office. A third dwelling remains on the property and requires substantial renovation or demolition.
The property is located 0.2 miles from Maine Turnpike Exit 53 and has public water and sewer service. VMU zoning supports consideration of uses including multi-unit residential, restaurant, office, and retail, subject to town approvals.
The property is located 0.2 miles from Maine Turnpike Exit 53 and has public water and sewer service. VMU zoning supports consideration of uses including multi-unit residential, restaurant, office, and retail, subject to town approvals.
Key Highlights
- Two lots sold together, each with its own driveway entrance and approval for additional access
- 0.2 miles from Maine Turnpike Exit 53
- Partially completed 4,000+ SF ICF building with two floors and a full basement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,520
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,490,400
$1.5M
Cap Rate 7%
$1,064,571
$1.1M
Cap Rate 9%
$828,000
$828.0K
Market Conditions
NOI Build-Up for 6,000 SF
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.
Gross rent
$129.6K $21.60/SF
− Vacancy
−$10.4K −$1.73/SF
EGI
$119.2K $19.87/SF
− OpEx
−$44.7K −$7.45/SF
NOI
$74.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,490,400
Cap Rate 7%
$1,064,571
Cap Rate 9%
$828,000
Alternative Uses
Best Use
Mixed Use
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,437 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 04105, ME
12,406
Population
5,332
Households
2.3
Avg Household Size
48
Median Age
70%
College-Educated
98%
High-School Grad
29.3 sq mi
ZIP Area
423
Density / Sq Mi
$131,833
Median Household Income
$69,303
Median Earnings
$2,070
Median Rent
$669,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property with two lots, public utilities, and partially completed structures supporting multiple commercial and residential possibilities.
Where is this mixed-use property located?
The property is located at 82 Gray & 59 Leighton Road Falmouth, ME.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two lots sold together, each with its own driveway entrance and approval for additional access; 0.2 miles from Maine Turnpike Exit 53; Partially completed 4,000+ SF ICF building with two floors and a full basement
