Commercial Real Estate Market in Gray, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 191 off-market properties in Gray, ME.
Market Trends
Gray, ME spans 40.9 square miles in Cumberland County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Gray, ME asks $235/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Gray, ME asks $252/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Gray, ME runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Gray, ME asks $266/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 59.8%
- Commercial 5.7%
- Residential 2.1%
Largest Zones share of zoned land by district
Rural Residential And Agricultural
Lake
Resource Protection
Medium Density
Business Development
Rural Residential And Agricultural (RRA)
It is the intent of this district to encourage low density development which will enhance, reinforce and protect the rural/open space environment currently characterizing these areas of the Town and to promote Agritourism on agricultural, forested and open space land for the use and enjoyment of these lands by allowing owners or operators of land to develop…
Market overview
Demographics & Economy
Gray, ME has 7,922 residents in 4,265 households. Density runs 194 people per square mile. Median household income here is $94,284 and median gross rent $1,321 a month.
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
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| North Yarmouth | — | — |
| Cumberland | — | — |
| New Gloucester | — | — |
| Raymond | — | — |
Commercial property in Gray, ME asks $10/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Gray?
Commercial property in Gray, ME asks an average of $10 per square foot. Multifamily carries the highest asking price at $266/SF.
Where does Realmo's Gray market data come from?
Realmo compiles Gray, ME figures from 4 recent recorded sales, 9 active sale listings, 191 tracked off-market properties, the current Gray zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 0 active for-lease listings in Gray, ME. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 29,479 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
