Cape Duplex with Detached
91 Merrill, Gray, ME 04039
For Sale
$835,000
The two-unit property combines distinct living layouts with a detached garage on rural acreage.
Property Size3,147 SF
Lot Size2.57 Acres
Price / SF$265.33
Days on Market203
Property Features for 91 Merrill
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Construction
Listing Agency:
Malone Commercial Brokers, Inc.
Listed By:
John Doyon · License #212294
(207) 772-2422
Source:
Amerorealty
Added: Apr 21
Changed: Nov 7
Last Checked: Nov 8 at 2:28PM
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 Malone Commercial Brokers, Inc.
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Investment Insights
Based on property information with market context.
This Cape-style duplex contains 3,147± square feet across two units: one with three bedrooms and another with one bedroom plus a sleeping loft. A detached two-car garage is also included. The property was built in 1790 and is zoned Rural Res/Ag Stream.
Set on 2.57± acres adjoining Pineland Farms, the property is approximately 30 minutes from Portland.
Set on 2.57± acres adjoining Pineland Farms, the property is approximately 30 minutes from Portland.
Key Highlights
- 3,147± SF duplex with one three‑bedroom unit and one one‑bedroom unit with a sleeping loft
- Detached two‑car garage
- Set on 2.57± AC adjoining Pineland Farms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,612
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,112,240
$1.1M
Cap Rate 7%
$794,457
$794.5K
Cap Rate 9%
$617,911
$617.9K
Market Conditions
NOI Build-Up for 3,147 SF
Gross rent
$85.0K $27.00/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$79.4K $25.25/SF
− OpEx
−$23.8K −$7.57/SF
NOI
$55.6K $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%
$1,112,240
Cap Rate 7%
$794,457
Cap Rate 9%
$617,911
Alternative Uses
Best Use
Multifamily LT 5
$794.5K
$695.2K – $926.9K
NOI $55,612 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$739.1K
$646.7K – $862.3K
NOI $51,739 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$865.0K
$756.8K – $1.01M
NOI $60,547 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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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
$333,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property combines distinct living layouts with a detached garage on rural acreage.
Where is this duplex located?
The property is located at 91 Merrill Gray, ME.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: 3,147± SF duplex with one three‑bedroom unit and one one‑bedroom unit with a sleeping loft; Detached two‑car garage; Set on 2.57± AC adjoining Pineland Farms
