Looks like the answer is no. From the terms link above:
10.License Restrictions. Except as expressly permitted under the Terms, or unless you have received prior written authorization from Google (or, as applicable, from the provider of particular Content), Google's licenses above are subject to your adherence to all of the restrictions below. Except as explicitly permitted in Section 7 or the Maps APIs Documentation, you must not (nor may you permit anyone else to):
10.3 pre-fetch, cache, or store any Content, except that you may store limited amounts of Content for the purpose of improving the performance of your Maps API Implementation if you do so temporarily, securely, and in a manner that does not permit use of the Content outside of the Service;