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Property profile & analytics
OFF-MARKET
Estimated value
$1,720,000
Commercial real estate
59 Lewiston Rd Gray, ME 04039-9537
Entity Owned
1-yr Hold
Free & Clear
Property ID
US42-0871955
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1999
Construction
CONCRETE
Total area
9,864 SF
Lot
155.73 ac (6,783,599 SF)
Zoning code
RURAL
APN
GRAY M:027 B:025 L:021-000
UPID
US42-0871955
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Spring Meadows Golf Club Golf Course
-
Spring Meadows Wedding & Event Center Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.89M
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$1.72M
Owner & transaction history
51 Lewiston Rd LLC · 1 yrs held
51 Lewiston Rd LLC
since 2024
4 recorded transactions
Zoning & alternative use
RURAL · Gray, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gray submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gray submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,040,000
6.5%
$1,885,000
7%
$1,750,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,225,000
Current use
OFFICE BUILDING
$1,910,000
Change: -14% · Conversion: Easy
RETAIL STORES
$1,870,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.72M
Range $1.55M – $1.89M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$174 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,031
Tax year 2023
Assessed value
$1,583,100
Assessed 2023
Previous assessed
$1,583,100
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$581,400
Assessed improvement
$1,001,700
Applied tax rate
28,870.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
BASEBOARD
Stories
2
Units
2
Rooms
10
Total area
9,864 SF
Lot
155.73 ac (6,783,599 SF)
Zoning code
RURAL
APN
GRAY M:027 B:025 L:021-000
UPID
US42-0871955
Jurisdiction
GRAY
Zoning & alternative use
RURAL · Gray, ME
Zoning RURAL · permitted uses
RURAL · Gray, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gray. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
BASEBOARD
Stories
2
Units
2
Rooms
10
Lot
155.73 ac
Current owner
From public records · entity-resolved
51 Lewiston Rd LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 164, GRAY, ME 04039-0164
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2024
—
51 Lewiston Rd LLC
Pollard Associates INC
Warranty Deed
—
Apr 2, 2013
—
Pollard Rand LLC
Pollard Assoc INC
Warranty Deed
related
—
Dec 29, 2005
—
Pollard Assoc LLC
—
Deed Of Trust
related
$100,000 · Androscoggin Bank
Mar 29, 2005
—
Pollard Assoc LLC
—
Deed Of Trust
related
$200,000 · Androscoggin Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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