70 Gray RdFalmouth, ME 04105

Property Details for 70 Gray Rd

Year built

2001

Construction

STEEL FRAME

Lot size

11.27 AC

Property size (Sq ft)

141,420 SF

Zone code

TIF

Property type

Office properties

Property subtype

Office buildings

APN

FMTH M:U44 B:015 L:A

APU

FMTHMU44B015LA

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $23,380,950

  6.5%

  $21,582,416

  7%

  $20,040,814

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,477,938

  Geo Method

  $18,477,938

• Alternative Use

  Use

  Valuation

  Residential

  $26,762,196

  Hospitality

  $24,514,028

  Educational

  $20,395,382

  Medical

  $21,096,812

  Retail

  $31,726,150

Location Insight

City

Falmouth

County

Cumberland

State

Maine

Latitude

43.7339

Longitude

-70.2992

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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