Corner Commercial Land With
82 Gray & 59 Leighton Road, Falmouth, ME 04105
For Sale
$1,550,000
Commercial Sale, Falmouth, ME
Property Size6,000 SF
Lot Size2.83 Acres
Price / SF$258.33
Days on Market154
Property Features for 82 Gray & 59 Leighton Road
General Information
Property type
Property subtype
Zoning
Rooms
Parking features
Basement
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Water source
Building Details
Building materials
Listing Agency:
Pine Tree Realty of Maine
(207) 893-8006
Listed By:
Ann Marie Thompson
(207) 838-8130
Added: Jun 11
Changed: Sep 30
Last Checked: Nov 11 at 4:06AM
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.
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Investment Insights
Based on property information with market context.
This 2.83-acre commercial land offering combines two lots with separate driveway entrances and approval for additional access. Existing improvements include a partially finished 4,000+ SF insulated concrete form building with two floors, a full basement, concrete first and second floors, and a main level designed for truck drive-in unloading. The basement was planned for business inventory storage, while the upper level was intended for a two-unit dwelling. Many windows and completion materials are already on site.
The property also includes a 1,260 SF Cape-style home with 3-4 bedrooms, 2 baths, and a detached garage. The residence is described as move-in ready or adaptable to a small professional office. A third dwelling is present but requires significant renovation or demolition. Public water and sewer serve the property, which is located 0.2 miles from Maine Turnpike Exit 53 in Falmouth. Zoning is VMU, with potential uses subject to town approvals.
The property also includes a 1,260 SF Cape-style home with 3-4 bedrooms, 2 baths, and a detached garage. The residence is described as move-in ready or adaptable to a small professional office. A third dwelling is present but requires significant renovation or demolition. Public water and sewer serve the property, which is located 0.2 miles from Maine Turnpike Exit 53 in Falmouth. Zoning is VMU, with potential uses subject to town approvals.
Key Highlights
- 2.83‑acre commercial land offering comprising two lots sold together
- Located 0.2 miles from Maine Turnpike Exit 53
- VMU zoning with potential uses subject to town approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,897
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
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
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 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
—
—
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
Lease Details
Yes
Utilities to site
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
$669,500
Median Home Value
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Market
Average Price Trend$/SF for Commercial land in Cumberland County, ME
Properties on Market for Commercial land in Cumberland County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Commercial land - VMU-zoned corner parcel with public water, public sewer, and multiple existing structures.
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 commercial land offering comprising two lots sold together; Located 0.2 miles from Maine Turnpike Exit 53; VMU zoning with potential uses subject to town approvals
