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Property profile & analytics
OFF-MARKET
Estimated value
$455,000
Warehouses
289 New Portland Rd Gorham, ME 04038-1867
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US42-0186879
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
STEEL FRAME
Total area
10,368 SF
Lot
3.9 ac (169,884 SF)
Zoning code
I
APN
GRHM M:011 B:013 L:000
UPID
US42-0186879
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$455k
Owner & transaction history
789 Development LLC · 4 yrs held
789 Development LLC
since 2021
7 recorded transactions
Zoning & alternative use
I · Gorham, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
is hereby divided into the following classes of districts: Urban Residential UR Urban Residential Expansion URExp Suburban Residential SR Rural R Village Centers VC Urban Commercial UC Roadside Commercial RC Industrial I Mosher Corner Mixed Use MCMU Office-Residential OR Narragansett Mixed Use Development ND Black Brook and Brackett Road Special Protection P…
Zone name
Industrial
General category
INDUSTRIAL
Zone area
928.48 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gorham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gorham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$455k
Range $410k – $501k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$44 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,342
Tax year 2023
Assessed value
$824,900
Assessed 2023
Previous assessed
$824,900
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$333,400
Assessed improvement
$491,500
Applied tax rate
28,240.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
10,368 SF
Lot
3.9 ac (169,884 SF)
Zoning code
I
APN
GRHM M:011 B:013 L:000
UPID
US42-0186879
Jurisdiction
GORHAM
Zoning & alternative use
I · Gorham, MEZoning I · permitted uses
I · Gorham, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
is hereby divided into the following classes of districts: Urban Residential UR Urban Residential Expansion URExp Suburban Residential SR Rural R Village Centers VC Urban Commercial UC Roadside Commercial RC Industrial I Mosher Corner Mixed Use MCMU Office-Residential OR Narragansett Mixed Use Development ND Black Brook and Brackett Road Special Protection Preble Street Conditional Zone McLellan House Conditional Olde Canal Industrial O
Zone name
Industrial
General category
INDUSTRIAL
Zone area
928.48 ac
Building & site characteristics
From public records
Year built
1981
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
3.9 ac
Current owner
From public records · entity-resolved
789 Development LLC
Entity
Mailing address
42 REEF RD, CAPE ELIZABETH, ME 04107-2822
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
—
789 Development LLC
—
Deed
related
$800,000 · Skowhegan Savings Bank
Aug 18, 2021
—
789 Development LLC
289 New Portland Road LLC
Quit Claim Deed
related
$2,000,000 · Greg Otterbein
Aug 13, 2020
—
289 New Portland Road LLC
Ics Realty LLC
Quit Claim Deed
related
$470,000 · Bangor Savings Bank
Jan 13, 2020
—
Ics Realty LLC
—
Deed
related
$100,000 · Bath Svgs Institution
Aug 6, 2012
—
Ics Realty LLC
—
Deed Of Trust
related
$150,000 · City Of Portland (me)
Jun 2, 2005
—
Ics Realty LLC
—
Deed Of Trust
related
$452,000 · City Of Portland (me)
—
—
Ics Realty LLC
—
Deed Of Trust
related
$100,000 · Bath Svgs Institution
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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