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    Flex Building with Pass-Through Bay Title is generated by Realmo AI

    177 Main Street, Gorham, NH 03581

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    COMMERCIAL - Gorham, NH

    Lot size:
    0.81 Acres
    Added:
    Dec 18, 2025
    Days on Market:
    168
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 177 Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    CA
    Standard status
    Active
    Lot size
    0.81 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating), Hot Water(Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Roof type
    Shingle

    We can help!

    Listing Contact
    Shem Nelson

    Listing agent Shem Nelson

    Listing office Badger Peabody & Smith Realty 383 Main St., Franconia, NH

    Listing date Dec 18, 2025

    MLS# 5072252

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • For lease or sale; formerly a bank and later an ATV shop
    • Spacious open floor plan with lots of natural light plus four private offices and a private workspace
    • Main floor includes a double‑stall public restroom
    • Second level features a kitchenette, two private restrooms, and additional office spaces
    • Converted drive‑thru garage with high ceilings and two extra‑tall overhead doors for a pass‑thru service bay; option to purchase installed vehicle lift
    • Dual road access with a large parking lot; owner will not lease or sell to another ATV business

    Overview

    This versatile commercial property has a spacious open floor plan with abundant natural light and four private offices, along with a private workspace on the main level. The main floor also includes a double-stall public restroom. A second level provides a kitchenette, two additional private restrooms, and office spaces, supporting a range of office, service, or mixed-use configurations.

    A key feature is the converted drive-through garage, designed as a pass-through service bay with high ceilings and two extra-tall overhead doors. The current setup includes the option to purchase an installed vehicle lift. The property offers dual road access and a large parking lot to accommodate both customers and employees, and it is located at 177 Main Street in Gorham, New Hampshire.

    The layout is well suited for tenants seeking a combination of light service and customer-facing workspace, with dedicated office rooms plus a dedicated service bay. The seller will not lease or sell to another ATV business, which may align with uses outside that specific category. Zoning is listed as CA, and the property is available for lease or sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Gorham
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.18367299
    Latitude
    44.390948

    Nearby Similar for Lease

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      Versatile Commercial Property Available

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    FAQs

    What type of property is this?
    Flex space - Flexible commercial building with office space, restrooms, and a converted drive-through service bay with tall overhead doors.
    Where is this flex space located?
    The property is located at 177 Main Street Gorham, NH.
    What are key features of this property?
    This property features: For lease or sale; formerly a bank and later an ATV shop; Spacious open floor plan with lots of natural light plus four private offices and a private workspace; Main floor includes a double‑stall public restroom
    (603) 444-1294
    We can help!
    Listing Contact
    Shem Nelson
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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.

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