Commercial Land With Existing
For Sale
$1,550,000
82 Gray & 59 Leighton Road, Falmouth, ME 04105
COMMERCIAL - Falmouth, ME
Property Size6,000 SF
Lot Size2.83 Acres
Price / SF$258.33
Days on Market63
Property Features for 82 Gray & 59 Leighton Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
VMU
Rooms
Basement
Parking features
Off Street
Basement
Full
Lot features
Public Transport Access, Near Turnpike/ Interstate, Business District, Bus Line, Near Shopping, Office Park, Retail Strip, Suburban
Standard status
Active
Size
6,000 SF
Lot size
2.83 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10518
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Building materials
Wood Frame
Listing Agency:
Pine Tree Realty of Maine
(207) 893-8006
Listed By:
Ann Marie Thompson
(207) 838-8130
Added: Jun 11
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 1637851
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.
Investment Insights
Based on property information with market context.
This 2.83-acre commercial land offering includes two lots conveyed together, existing buildings, and a combined property size of 6,000 square feet. Improvements include an insulated concrete form building with two concrete floors, a full basement, and provisions for truck access at the main level. The property also includes a 1,260-square-foot Cape-style residence with 3–4 bedrooms, 2 baths, and a detached garage. A third dwelling is present and requires significant renovation or removal. The residence may also serve as a small professional office, subject to applicable approvals.
Located at 82 Gray & 59 Leighton Road in Falmouth, the property is 0.2 miles from Maine Turnpike Exit 53. Each lot has a driveway entrance, with approval for additional access. Public water and public sewer serve the property, and zoning is VMU. Potential uses identified in the property information include multi-unit residential, restaurant, office, and retail, subject to town approvals.
Located at 82 Gray & 59 Leighton Road in Falmouth, the property is 0.2 miles from Maine Turnpike Exit 53. Each lot has a driveway entrance, with approval for additional access. Public water and public sewer serve the property, and zoning is VMU. Potential uses identified in the property information include multi-unit residential, restaurant, office, and retail, subject to town approvals.
Key Highlights
- 2.83‑acre site consisting of two lots sold together
- 0.2 miles from Maine Turnpike Exit 53
- 6,000 square feet of combined property area
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
$85,897
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
5.54%
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%
$1,717,940
$1.7M
Cap Rate 7%
$1,227,100
$1.2M
Cap Rate 9%
$954,411
$954.4K
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
$131.0K $21.84/SF
− Vacancy
−$16.5K −$2.75/SF
EGI
$114.5K $19.09/SF
− OpEx
−$28.6K −$4.77/SF
NOI
$85.9K $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 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%
$1,717,940
Cap Rate 7%
$1,227,100
Cap Rate 9%
$954,411
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,897 @ 7.0% cap · market cap 5.54%
Second Best
Mixed Use
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 4.81%
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
Lease Details
Yes
Utilities to site
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - VMU-zoned property with public water and sewer, multiple structures, and access from two separate lots.
Where is this commercial land 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: 2.83‑acre site consisting of two lots sold together; 0.2 miles from Maine Turnpike Exit 53; 6,000 square feet of combined property area
