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    491 Main St Gorham, NH 03581-1028

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    491 Main St Gorham, NH 03581-1028

    View on Map
    • Super regional malls
    • 74,768 SF
    • 9.70 lot acres
    Off-Market
    Property ID
    US58-0002337
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 491 Main St

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    9.70 lot acres
    Property size
    74,768 SF
    Zone code
    CB
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    GORH M:U11 L:1
    APU
    GORHMU11L1

    Description

    Mountain Valley Plaza, located at 491 Main Street in Gorham, New Hampshire, presents a unique opportunity for retail businesses seeking space in a vibrant Coos County community. This 27,000 square foot strip center offers flexible leasing options, with spaces ranging from a minimum of 2,000 square feet up to a maximum contiguous space of 25,000 square feet. Currently, the entire 27,000 square feet is available for lease, providing a blank canvas for a single large tenant or the potential for multiple smaller businesses to establish themselves within this prime location. The property's address is easily accessible from Main Street, ensuring high visibility and convenient access for customers. The building is classified as a retail strip center, ideal for a variety of commercial uses. This presents a rare opportunity to secure a significant amount of retail space in Gorham, NH, within Coos County, offering substantial potential for growth and success. The property's zip code is 03581. Interested parties should inquire about lease terms and conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $785,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gorham
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.195
    Latitude
    44.4163
    CBSA code
    13620
    CBSA name
    BERLIN, NH-VT MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $95,745
    $554,800
    $3,345,200
    $3,900,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $675,000
      156,185 SF

      561 Main St

      REGIONAL SHOPPING CENTER, MALL • 156,185 SF
      561 Main St, Gorham, NH 03581-4901
      View Details
    • Value Estimation by Request
      3,620 SF

      609 Main St

      DEPARTMENT STORE • 3,620 SF
      609 Main St, Gorham, NH 03581-4918
      View Details
    • Value Estimation by Request
      3,346 SF

      117 Main St

      RESTAURANT • 3,346 SF
      117 Main St, Gorham, NH 03581-1627
      View Details
    • Value Estimation by Request
      3,409 SF

      260 Main St

      FINANCIAL BUILDING • 3,409 SF
      260 Main St, Gorham, NH 03581-1519
      View Details
    • Value Estimation by Request
      5,792 SF

      310 Main St

      RESTAURANT • 5,792 SF
      310 Main St, Gorham, NH 03581-1119
      View Details
    • Value Estimation by Request
      3,800 SF

      346 Main St

      SERVICE STATION (FULL SERVICE) • 3,800 SF
      346 Main St, Gorham, NH 03581
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Investment Opportunity in Gorham

      Mixed-use commercial building with storefronts and apartments in downtown Gorham.
      10-14 Exchange St, Gorham, NH 03581
      View Details
    • $450,000
      0.20 Acres

      Mixed-Use Commercial Building in Gorham

      Investment opportunity with storefronts and apartments in downtown Gorham.
      10-14 Exchange St, Gorham, NH 03581
      View Details
    • $425,000
      0.74 Acres

      Downtown Gorham Commercial Opportunity

      Prime commercial property in downtown Gorham with high visibility.
      152 Main St, Gorham, NH 03581
      View Details
    • Contact for pricing
      2,552 SF

      Downtown Gorham Business Opportunity

      Prime location with adaptable spaces and excellent visibility.
      152 Main St, Gorham, NH 03581
      View Details
    • $450,000
      2,318 SF

      Mixed-Use Building in Gorham, NH

      Mixed-use commercial building with income potential in downtown Gorham.
      10-14 Exchange St, Gorham, NH 03581
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,234 SF

      Versatile Commercial Space in Gorham

      Commercial space for lease with utilities and parking included.
      152 Main St, Gorham, NH 03581
      View Details
    • Contact for pricing
      35,284 SF

      Versatile Commercial Property in Gorham

      Spacious commercial property with drive-thru, ideal for various businesses.
      177 Main St, Gorham, NH 03581
      View Details
    • Contact for pricing
      31,363 SF

      Retail Space on High-Traffic Route

      Four-unit retail building with high visibility and ample parking.
      609 Main St, Gorham, NH 03581
      View Details
    • $8 SF/Yr

      Versatile Commercial Property Available

      Spacious property with open floor plan and drive-thru garage.
      177 Main St, Gorham, NH 03581
      View Details
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    491 Main St
    Gorham, NH 03581-1028
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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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    491 Main St, Gorham, NH, 03581

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