Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    230-232 Main St Gorham, NH 03581

    • Office buildings
    • 5,654 SF
    • 1.20 lot acres
    For Sale
    View listing
    $498,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US58-0134758
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 230-232 Main St

    Year built
    1880
    Construction
    FRAME
    Lot size
    1.20 lot acres
    Property size
    5,654 SF
    Zone code
    CA
    Property type
    Office buildings
    APN
    GORH M:U6 L:37
    APU
    GORHMU6L37

    Description

    This exceptional commercial property at 230-232 Main Street in Gorham, NH, presents a unique investment opportunity. Situated on a 1.2-acre lot directly on busy Routes 16 and 2, next to McDonald's, this two-story building boasts 8,932 square feet of space. The main floor features multiple office spaces, with half currently leased to an established tenant. Upstairs, a cozy one-bedroom apartment provides additional income potential. This apartment is currently partially finished, offering significant upside for expansion into more living space or additional office areas. The property includes ample parking in both the front and rear, with a large backyard extending to the Androscoggin River. Its convenient location offers easy access to local trails and the attractions of the North Country and White Mountains, making it ideal for a variety of businesses. The high visibility and established tenant base make this a strong investment with significant potential for growth and increased revenue. The combination of commercial and residential space provides a diversified income stream, making it an attractive option for savvy investors seeking a property with both immediate and long-term returns. The large lot and river access add to the property's overall appeal and potential for future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gorham
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.1865
    Latitude
    44.3931
    CBSA code
    13620
    CBSA name
    BERLIN, NH-VT MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,387
    $149,800
    $151,100
    $300,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $325,000
      3,553 SF

      40 Exchange St

      OFFICE BUILDING • 3,553 SF
      40 Exchange St, Gorham, NH 03581-1604
      View Details
    • Value Estimation
      $270,000
      1,026 SF

      1 Madison Ave

      OFFICE BUILDING • 1,026 SF
      1 Madison Ave, Gorham, NH 03581-1106
      View Details
    • Value Estimation
      $320,000
      8,812 SF

      16 Exchange St

      OFFICE BUILDING • 8,812 SF
      16 Exchange St, Gorham, NH 03581-1604
      View Details
    • Value Estimation
      $270,000
      1,728 SF

      78 Main St

      OFFICE BUILDING • 1,728 SF
      78 Main St, Gorham, NH 03581-1632
      View Details
    • Value Estimation
      $280,000
      3,446 SF

      177 Main St

      OFFICE BUILDING • 3,446 SF
      177 Main St, Gorham, NH 03581-1658
      View Details
    • Value Estimation
      $305,000
      4,025 SF

      315 Main St

      OFFICE BUILDING • 4,025 SF
      315 Main St, Gorham, NH 03581
      View Details

    Similar Nearby for Sale

    • $800,000
      0.94 Acres

      Commercial Building in Gorham, NH

      Well-maintained commercial building suitable for office, healthcare, or retail use.
      355 Main St, Gorham, NH 03581
      View Details
    • $800,000
      8,026 SF

      Gorham Office Building - Main Street

      Prime Gorham Office Space, High Traffic Area
      355 Main St, Gorham, NH 03581
      View Details
    • $324,900
      4,116 SF

      Gorham, NH Commercial Space

      Versatile 4,116 sq ft building, 0.42 acres
      1 Wentworth Ave, Gorham, NH 03581
      View Details
    • $3,600,000

      Self-Storage Portfolio For Sale

      Self-storage portfolio available for purchase in Gorham, New Hampshire.
      521 Main St, Gorham, NH 03581
      View Details
    • $450,000
      0.20 Acres

      Mixed-Use Commercial Building in Gorham

      Investment opportunity with storefronts and apartments in downtown Gorham.
      10-14 Exchange St, Gorham, NH 03581
      View Details
    • $899,900
      2.94 Acres

      Gorham Commercial Property - Prime Location

      High-visibility, 11,232 sq ft building on 2.94 acres.
      461 Main St, Gorham, NH 03581
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      27,000 SF

      Mountain Valley Plaza Retail Space

      Gorham, NH Strip Center - 27,000 SF
      491 Main St, Gorham, NH 03581
      View Details
    • New
      Contact for pricing
      35,284 SF

      Versatile Commercial Property in Gorham

      Spacious commercial property with drive-thru, ideal for various businesses.
      177 Main St, Gorham, NH 03581
      View Details
    • Contact for pricing
      31,363 SF

      Retail Space on High-Traffic Route

      Four-unit retail building with high visibility and ample parking.
      609 Main St, Gorham, NH 03581
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    230-232 Main St
    Gorham, NH 03581
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.