Commercial Land with Existing
For Sale
$1,550,000
82 Gray & 59 Leighton Road, Falmouth, ME 04105
Two lots with separate driveway entrances include public water and sewer service and buildings in varying stages of completion.
Property Size6,000 SF
Price / SF$258.33
Days on Market408
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
$10,873
Building Details
Building Size
6,000 SF
Stories
3
Listing Agency:
Pine Tree Realty of Maine
(207) 893-8006
Listed By:
Ann Marie Thompson
(207) 838-8130
Source:
Hayesrealestate
Added: Sep 16, 2025
Changed: Oct 27
Last Checked: Oct 27 at 3:11AM
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
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Investment Insights
Based on property information with market context.
The offering combines two lots with existing buildings. One is a partially completed ICF structure with walls configured for two floors and a full basement; its concrete first and second floors are in place. The main level allows truck access for unloading, and the basement was designed for business inventory storage. A 1,260-square-foot Cape-style residence has 3–4 bedrooms, 2 baths, and a detached garage. A third dwelling on the property needs substantial renovation or removal. The property and buildings are being sold as is.
Located at 82 Gray Road and 59 Leighton Road in Falmouth, the property is 0.2 miles from Maine Turnpike Exit 53. Both lots have driveway entrances, with approval for additional access. Public water and sewer serve the property, which is zoned VMU. Potential uses cited include residential, restaurant, office, and retail development, subject to town approvals.
Located at 82 Gray Road and 59 Leighton Road in Falmouth, the property is 0.2 miles from Maine Turnpike Exit 53. Both lots have driveway entrances, with approval for additional access. Public water and sewer serve the property, which is zoned VMU. Potential uses cited include residential, restaurant, office, and retail development, subject to town approvals.
Key Highlights
- Two separate lots sold together, each with a driveway entrance and approval for additional access
- VMU zoning; potential uses are subject to town approvals
- Partially finished ICF building with two‑floor walls, concrete first and second floors, and a full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,520
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Commercial land - Two lots with separate driveway entrances include public water and sewer service and buildings in varying stages of completion.
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: Two separate lots sold together, each with a driveway entrance and approval for additional access; VMU zoning; potential uses are subject to town approvals; Partially finished ICF building with two‑floor walls, concrete first and second floors, and a full basement
