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70 Gray Rd, Falmouth, ME 04105
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Property summary
AI-generated overview
70 Gray Road in Falmouth, Maine presents a remarkable opportunity to lease premium office space. This Class A, three-story building, totaling 143,000 square feet, sits on an expansive 11.27-acre lot. Built in 2001 and extensively renovated in 2018, the property boasts modern, high-end finishes throughout. The building offers flexible space options, with a minimum divisible unit of 20,000 square feet and the potential to lease the entire 143,000 square feet contiguously. The property features large, open floor plates, ideal for various business configurations. Ample parking is provided with 600 spaces on-site. Conveniently located at Exit 53 of the Maine Turnpike, directly across from the West Falmouth Hannaford retail complex, this property offers exceptional accessibility and visibility. The building is zoned WFCMPD and comprises three suites in total. Currently, a tenant will be vacating on January 1, 2025, presenting a prime opportunity for a new occupant. This flagship property in Cumberland County offers a unique blend of modern amenities and strategic location, making it an ideal choice for businesses seeking a prestigious and functional office environment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Construction
STEEL FRAME
Total area
141,420 SF
Lot
11.27 ac (490,921 SF)
Zoning code
TIF
APN
FMTH M:U44 B:015 L:A
UPID
US42-0369634
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bank Credit Union
-
Bank Loan Service
-
Insurance Agency
-
Insurance Agency
-
Insurance Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$33.23M
Comparable Approach
Comparable
$29.16M
Blend (final)
Blend
$27.23M
Owner & transaction history
since 2014
1 recorded transaction
Zoning & alternative use
TIF · Falmouth, ME
Top alternative use upside
Commercial (general)
$30.5M
+17.6%
Retail stores
$28.7M
+10.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$27.23M
Value range
$24.51M – $29.95M
±10% around blend
Estimated value / SF
$193 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$24.51M
blend $27.23M
$29.95M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
141,420 SF
Lot area
11.27 ac
Year built
2001
Stories
3
APN
FMTH M:U44 B:015 L:A
Zoning
TIF
Assessed value
$30,390,600
Annual tax
$384,137
3
Income approach: direct capitalization
Partial preview
Income approach indication
$33.23M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$36.00M
@ 6.5% CAP return
$33.23M
@ 7% CAP return
$30.85M
4
Sales comparison
Partial preview
Sales approach indication
$29.16M
Range $18.22M – $36.00M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$27.23M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 42 sales
$183
+5%
County 93 sales
$194
-1%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $193/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+18%
vs current-use indication
Retail Stores
Office Building · current use
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$30.39M
Move the market yield to see immediate price impact.
Value / SF
$215
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$1.91M
$38.29M
$27.35M
$21.27M
$2.13M
$42.55M
$30.39M
$23.64M
$2.34M
$46.80M
$33.43M
$26.00M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$384,137
Tax year 2023
Assessed value
$30,390,600
Assessed 2023
Previous assessed
$30,390,600
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$10,405,200
Assessed improvement
$19,985,400
Applied tax rate
24,495.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
1
Total area
141,420 SF
Lot
11.27 ac (490,921 SF)
Zoning code
TIF
APN
FMTH M:U44 B:015 L:A
UPID
US42-0369634
Jurisdiction
FALMOUTH
Zoning & alternative use
TIF · Falmouth, MEZoning TIF · permitted uses
TIF · Falmouth, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
1
Lot
11.27 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
TIF
Jurisdiction
Falmouth, ME
Recorded code
TIF
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for TIF in Falmouth, ME.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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