I just tested my Legacy command base, curiously the voltage output was actually greater connected to the tracks than open circuit. 5.64VPP open circuit and 6.20VPP connected to the track. There is only about 100 feet of track connected, not quite like the layout in question, but that seems to suggest what you should see as an output signal. The ground for the 'scope was connected to the same power strip ground connection as the command base power brick.
Command base not connected to track, 5.64 VPP
Command base connected to track, 6.22 VPP