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Property profile

65 Olde Canal Way Approvals Gorham, ME 04038

OFF-MARKET
Land
6.53 ac lot
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Property summary

AI-generated overview

Exceptional investment opportunity: 6.53 acres of industrial land in Gorham, Maine (04038), located at 65 Olde Canal Wy (Approvals), is available for $925,000. This property boasts pre-approved plans for a 40-unit luxury garage condominium development, branded "Luxury Motor Toys." Each unit will measure approximately 27 feet wide by 37 feet long, featuring a 200 sq ft mezzanine level with a glass partition, an outdoor balcony, a full bathroom, and a refrigerator/prep area. Residential living within the units is strictly prohibited. A shared clubhouse with a full kitchen will be available for small group events hosted by condo owners. Renderings are available online at www.luxurymotortoys.com. The development will include a security gate, security cameras, and 24/7 security. Public utilities will service the property, including water, sewer, power, and underground communications. This is a turnkey opportunity to capitalize on the growing demand for high-end automotive storage solutions. The property's convenient location in Cumberland County offers easy access to major transportation routes and amenities. Don't miss this chance to acquire a prime piece of developed land with significant upside potential.

Property profile

Verified
Property type Land
Lot 6.53 ac (284,447 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

65 Olde Canal Way Approvals Gorham, ME 04038
Gorham metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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