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    18 Vis Dr Dr Gorham, ME 04038

    Sponsored
    For Sale
    $999,000

    5.31 Acres, Prime Gorham Location, Development Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 5.31-acre commercial lot presents a unique investment opportunity in a highly visible Gorham location. Situated on Vista Drive, this property boasts a daily traffic count exceeding 7,000 vehicles, ensuring maximum exposure for any development. Currently approved for eleven residential units, the property's zoning allows for the potential expansion to twenty-four units through contract zoning, offering significant upside potential. The site's strategic location provides easy access to downtown Gorham, Westbrook, and Portland, enhancing its appeal to a wide range of potential uses. Its proximity to established businesses like Maine Optometry and Martin's Point Health further strengthens its desirability. This versatile property is ideal for developers seeking to capitalize on the high traffic volume and prime location, offering a blend of residential and commercial possibilities. The substantial acreage provides ample space for a variety of projects, making it an attractive proposition for those seeking a significant development opportunity in a thriving Maine community. The existing approvals streamline the development process, reducing time and costs associated with obtaining necessary permits. This is a rare chance to acquire a large, well-located parcel with significant development potential in a rapidly growing area. Serious inquiries are encouraged.

    Property Features for 18 Vis Dr Dr

    General Information

    Property type
    Other commercial real estate
    Lot Size
    231,304 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Gorham
    County
    Cumberland
    State
    Maine
    Longitude
    -70.40235
    Latitude
    43.69217

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    FAQs

    What type of property is this?
    Commercial real estate - 5.31 Acres, Prime Gorham Location, Development Potential
    Where is this commercial real estate located?
    The property is located at 18 Vis Dr Dr Gorham, ME.
    What is the asking price?
    The asking price for this property is $999,000.
    (888) 439-8743
    Request Owner's contact information
    18 Vis Dr Dr Gorham, ME 04038
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    Realmo Value Estimation

    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.

    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.

    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
    18 Vis Dr Dr Gorham, ME 04038
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