93 Mclellan RdGorham, ME 04038

Property Details for 93 Mclellan Rd

Year built

1988

Construction

STEEL FRAME

Lot size

77.00 AC

Property size (Sq ft)

4,800 SF

Zone code

SR

Property type

Turn key restaurants

APN

GRHM M:007 B:006 L:000

APU

GRHMM007B006L000

Description

This exceptional 15.3-acre commercial land parcel, located at 93 McLellan Road in Gorham, Maine (zip code 04038), presents a unique investment opportunity. Situated in the South Gorham Commercial Corridor District, the property offers versatile zoning allowing for a wide range of development options. Permitted uses include apartment buildings or multi-family housing, nursing homes, business and professional services, light industrial uses, schools, and churches. The land comprises multiple parcels and features distinctive glacier rock formations. Conveniently located off Routes 22 and 114, this property enjoys close proximity to downtown Gorham and the retail amenities of Westbrook. A significant advantage is the adjacency of Lots 5, 6, and 7 to the planned Maine Turnpike Authority East-West Highway. This new highway, scheduled for completion in 2030, will connect Maine Turnpike Exit 45 (Maine Mall Exit) and I-295 to the Route 114 roundabout for the Rines Bypass in Gorham, significantly enhancing accessibility and future value. This prime location and flexible zoning make this property an attractive prospect for developers seeking a strategic investment in a rapidly growing area of Maine. The property's size and location offer substantial potential for a variety of commercial and residential developments.

• CAP approach

  CAP return

  Valuation

  6%

  $1,166,568

  6.5%

  $1,076,832

  7%

  $999,915

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,580,463

  Geo Method

  $1,580,463

• Alternative Use

  Use

  Valuation

  Residential

  $908,348

  Hospitality

  $832,042

  Educational

  $692,249

  Medical

  $716,056

  Retail

  $1,076,832

Location Insight

City

Gorham

County

Cumberland

State

Maine

Latitude

43.6515

Longitude

-70.4081

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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