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    177 Main St Gorham, NH 3581

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    For Lease
    $8 SF/Yr

    Spacious property with open floor plan and drive-thru garage.

    Type:Commercial
    Added:
    Apr 27, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 27 at 12:15 pm

    Property Features for 177 Main St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Shem A Nelson

    Listing agent Shem A Nelson

    Listing office

    Listing date Apr 27, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Shem A Nelson

    Overview

    Versatile Commercial Property Available

    This versatile property, formerly a bank and later an ATV shop, is available for lease or sale. The main floor features a spacious open floor plan with abundant natural light, four private offices, a private workspace, and a double stall public restroom. The second level includes a kitchenette and two additional private restrooms and office spaces. The converted drive-thru garage has high ceilings and two extra tall overhead doors, creating a pass-thru service bay. The installed vehicle lift is available for purchase. The property benefits from dual road access and a large parking lot, which are advantageous in a small town setting, offering convenience for both customers and employees. The property is suitable for a variety of uses. Note that the current owner will not lease or sell to another ATV business. The bike score is 29, indicating it is somewhat bikeable, and the walk score is 47, suggesting it is car-dependent.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • U-Haul Neighborhood Dealer — 385 Main St, Gorham, NH 03581

    Location Insight

    • Map
    • Local Demand
    City
    Gorham
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.1838574
    Latitude
    44.3908366

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Commercial Space in Gorham

      Commercial space for lease with utilities and parking included.
      152 Main Street, Gorham, NH 03581
      View Details
    • Contact for pricing

      Versatile Commercial Property in Gorham

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

      Retail Space on High-Traffic Route

      Four-unit retail building with high visibility and ample parking.
      609 Main Street, Gorham, NH 03581
      View Details

    FAQs

    What type of property is this?
    Automotive property - Spacious property with open floor plan and drive-thru garage.
    Where is this automotive property located?
    The property is located at 177 Main St Gorham, NH.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Versatile property suitable for a variety of uses due to its spacious open floor plan and unique features.; **Converted drive‑thru garage with high ceilings and two extra tall overhead doors**, plus the option to purchase the installed vehicle lift.; **Dual road access and a large parking lot**, rare advantages in a small town setting.
    (603) 991-5994
    We can help!
    Listing Contact
    Shem A Nelson
    Learn More
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    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
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