Building Details

Building Size 2,928 SF

Year Built 1900

Units 3

Listing Agency: Integrity Homes Real Estate Group, PC b***@gmail.com

Listed By: Buffy Dumont Show Phone

Source: Integrityhomesrealestategroup

Added: Apr 28 Changed: Oct 30 Last Checked: Oct 30 at 3:27PM

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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 Integrity Homes Real Estate Group, PC

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Investment Insights

Based on property information with market context.

This three-unit residential property in Gray includes 2,928 square feet and dates to 1900. The main residence has three bedrooms and two-and-a-half bathrooms; two additional units complete the configuration.

The property is in Gray Village, within walking distance of the public library, Town Hall, recreation facilities, a fitness center, shops, restaurants, and a golf course. Maine Wildlife Park and Wilkies Beach at Crystal Lake are also nearby. Zoning is Village Ctr Proper.

Key Highlights

• Three‑unit property with 2,928 square feet
• Built in 1900
• Main unit includes 3 bedrooms and 2.5 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,742

Cap Rate

7.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,034,840 $1.0M

Cap Rate 7%

$739,171 $739.2K

Cap Rate 9%

$574,911 $574.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,928 SF

Gross rent

$79.1K $27.00/SF

− Vacancy

−$5.1K −$1.76/SF

EGI

$73.9K $25.25/SF

− OpEx

−$22.2K −$7.57/SF

NOI

$51.7K $17.67/SF

Area

Cumberland County, ME

Vacancy

6.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,034,840

Cap Rate 7%

$739,171

Cap Rate 9%

$574,911

Alternative Uses

Best Use

Multifamily LT 5

$739.2K

$646.8K – $862.4K (±1% cap)

NOI $51,742 @ 7.0% cap · market cap 7.97%

Second Best

Apartment 5plus

$687.7K

$601.7K – $802.3K (±1% cap)

NOI $48,138 @ 7.0% cap · market cap 7.41%

Theoretical Best

Office A

$804.8K

$704.2K – $938.9K (±1% cap)

NOI $56,333 @ 7.0% cap · market cap 8.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

230

Businesses Nearby

Explore this area Business Placement

Demographics for 04039, ME

7,922

Population

4,265

Households

1.9

Avg Household Size

43

Median Age

46%

College-Educated

97%

High-School Grad

40.9 sq mi

ZIP Area

194

Density / Sq Mi

$94,284

Median Household Income

$55,646

Median Earnings

$1,321

Median Rent

$333,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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$849,000

3,668 SF

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Multi-Level Retail Space

228 Lewiston Road, Gray, ME 04039

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Frequently Asked Questions

What type of property is this?

Triplex - Village-center setting places the property within walking distance of civic, recreation, dining, and retail destinations.

Where is this triplex located?

The property is located at 9 Brown Street Gray, ME.

What is the asking price?

The asking price for this property is $649,500.

What are key features of this property?

This property features: Three‑unit property with 2,928 square feet; Built in 1900; Main unit includes 3 bedrooms and 2.5 bathrooms