Historic Professional Office
For Sale
$700,000
36 Main Street, Gorham, ME 04038
Commercial Sale, Gorham, ME
Property Size3,120 SF
Lot Size0.21 Acres
Price / SF$224.36
Days on Market82
Property Features for 36 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GVC
Rooms
Basement
Parking features
Off Street
Basement
Unfinished, Full
Lot features
Downtown, Business District, Near Shopping, Retail Strip
Standard status
Active
Size
3,120 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6306
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
signage opportunities
Building Details
Year built
1850
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Zachary Resnikoff
(207) 606-9665
Added: Jul 7
Changed: Sep 15
Last Checked: Sep 26 at 1:06PM
MLS# 1669788
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1850, this 3,120-square-foot professional office property is configured with several offices, two first-floor bathrooms, and one bathroom upstairs. Vinyl siding, a composition roof, forced-air natural gas heat, heat-pump cooling, public water, and public sewer support the existing office setup. The building is vacant and available for owner-user occupancy beginning July 2026.
The property occupies a 0.21-acre site at 36 Main Street in Gorham’s village center, with frontage along Main Street and opportunities for business signage. An additional parcel behind the building adds 8 private parking spaces to the 4 spaces on site, for 12 dedicated spaces in total. Zoning is GVC. Portland and Portland International Jetport are approximately 20 minutes away, while the surrounding community is anchored by the University of Southern Maine.
The property occupies a 0.21-acre site at 36 Main Street in Gorham’s village center, with frontage along Main Street and opportunities for business signage. An additional parcel behind the building adds 8 private parking spaces to the 4 spaces on site, for 12 dedicated spaces in total. Zoning is GVC. Portland and Portland International Jetport are approximately 20 minutes away, while the surrounding community is anchored by the University of Southern Maine.
Key Highlights
- 3,120± SF professional office building constructed in 1850
- Vacant and available for owner‑user occupancy beginning July 2026
- Multiple office configurations with 2 first‑floor bathrooms and 1 second‑floor bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,666
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$893,320
$893.3K
Cap Rate 7%
$638,086
$638.1K
Cap Rate 9%
$496,289
$496.3K
Market Conditions
NOI Build-Up for 3,120 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.1K $21.84/SF
− Vacancy
−$8.6K −$2.75/SF
EGI
$59.6K $19.09/SF
− OpEx
−$14.9K −$4.77/SF
NOI
$44.7K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$893,320
Cap Rate 7%
$638,086
Cap Rate 9%
$496,289
Alternative Uses
Best Use
Office B
$638.1K
$558.3K – $744.4K
NOI $44,666 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$857.5K
$750.3K – $1.00M
NOI $60,027 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 04038, ME
18,336
Population
6,527
Households
2.8
Avg Household Size
39
Median Age
46%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
362
Density / Sq Mi
$110,181
Median Household Income
$53,122
Median Earnings
$1,567
Median Rent
$426,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Vacant office property with flexible room configurations, dedicated parking, and a village-center location.
Where is this office building located?
The property is located at 36 Main Street Gorham, ME.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,120± SF professional office building constructed in 1850; Vacant and available for owner‑user occupancy beginning July 2026; Multiple office configurations with 2 first‑floor bathrooms and 1 second‑floor bathroom
