Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    42 Olde Canal Way Gorham, ME 04038
    Back to Search
    Property profile & analytics

    42 Olde Canal Way, Gorham, ME 04038

    View on Map
    • Land
    • 3.30 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 42 Olde Canal Way

    Lot size
    3.30 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 3.3-acre parcel of land, located at 42 Olde Canal Way in Gorham, Maine, presents a unique opportunity for commercial or industrial development. Situated within the Olde Canal Industrial Park (OCI zoning), this cleared lot boasts readily available utilities, simplifying the construction process and minimizing upfront costs. The property's single-tenant zoning allows for a streamlined development approach, ideal for businesses seeking a dedicated space. The lot size is precisely 3.3 acres, offering ample room for a variety of projects. The property's address is 42 Olde Canal Way, Gorham, ME 04038, and its legal description is Map 34, Block 3, Lot 8, Cumberland County. This location provides excellent access to transportation networks, making it an attractive option for businesses requiring efficient logistics. The readily available utilities include water, sewer, and electricity, significantly reducing the time and expense associated with infrastructure development. This property is perfect for businesses seeking a strategic location in a thriving industrial park with convenient access to essential services. The absence of existing structures allows for complete design flexibility, enabling the construction of a building tailored to specific business needs. This represents a rare opportunity to acquire a fully serviced, ready-to-develop lot in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gorham
    County
    Cumberland
    State
    Maine
    Longitude
    -70.4028
    Latitude
    43.7026

    Comparable in this City

    • Value Estimation by Request
      5.50 Acres

      30 Olde Canal Way

      Land
      30 Olde Canal Way, Gorham, ME 04038
      View Details
    • Value Estimation by Request
      6.53 Acres

      65 Olde Canal Way Approvals

      Land
      65 Olde Canal Way Approvals, Gorham, ME 04038
      View Details
    • Value Estimation by Request
      3.40 Acres

      Gorham Industrial Pkwy

      Land
      0 Gorham Industrial Pkwy, Gorham, ME 04038
      View Details
    • Value Estimation by Request
      6.90 Acres

      Gorham Industrial Pkwy

      Land
      0 Gorham Industrial Pkwy, Gorham, ME 04038
      View Details
    • Value Estimation by Request
      15.50 Acres

      Gorham Industrial Pkwy

      Land
      0 Gorham Industrial Pkwy, Gorham, ME 04038
      View Details
    • Value Estimation by Request
      6.00 Acres

      Gorham Industrial Pkwy

      Land
      0 Gorham Industrial Pkwy, Gorham, ME 04038
      View Details

    Similar Nearby for Sale

    • $475,000
      34.45 Acres

      34-Acre Wooded Gorham Land

      34-acre Gorham parcel near Portland, suitable for single or two-family.
      34-Acres Deering Dr, Gorham, ME 04038
      View Details
    • Contact for pricing

      3.4 Acres of Land

      3.4± acres of land available for sale.
      Gorham Industrial Pkwy, Gorham, ME 04038
      View Details
    • Contact for pricing

      15.3 Acres Land Parcels Gorham

      Two land parcels totaling 15.3 acres in Gorham, Maine.
      93 Mclellan Rd, Gorham, ME 04038
      View Details
    • Contact for pricing

      6.9 Acre Land Parcel

      6.9± acre land parcel available for sale.
      Gorham Industrial Pkwy, Gorham, ME 04038
      View Details
    • $999,000
      5.31 Acres

      Gorham Commercial Land - High Visibility

      5.31 Acres, Prime Gorham Location, Development Potential
      18 Vis Dr Dr, Gorham, ME 04038
      View Details
    • $425,000
      5.46 Acres

      Wooded Land in Gorham, Maine

      5+ acre wooded parcel near Gorham's downtown.
      30 Boreal Dr, Gorham, ME 04038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      100,000 SF

      Industrial Build-to-Suit Opportunity

      50,000 - 100,000 SF industrial build-to-suit opportunity in Gorham, ME.
      Cyr Dr, Gorham, ME 04038
      View Details
    • Contact for pricing
      16,600 SF

      Industrial Space in Gorham Park

      16,600± SF industrial space with office and parking.
      19 Bartlett Rd, Gorham, ME 04038
      View Details
    • Contact for pricing

      Industrial Lot in Gorham

      3.30± AC cleared lot with utilities in Industrial Park.
      42 Olde Canal Way, Gorham, ME 04038
      View Details
    • Contact for pricing

      Industrial Land with Utilities

      Cleared 3.30+/- AC lot in Gorham with utilities.
      42 Olde Canal Way, Gorham, ME 04038
      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.
    42 Olde Canal Way
    Gorham, ME 04038
    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

    Thank You for Inquiry
    42 Olde Canal Way, Gorham, ME, 04038
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!