430 Gorham RdSouth Portland, ME 04106
- Retail properties
- 30,000 SF
Property Details for 430 Gorham Rd
- Year built
- 1995
- Construction
- STEEL FRAME
- Lot size
- 2.32 AC
- Property size (Sq ft)
- 30,000 SF
- Zone code
- MM
- Property type
- Retail properties
- Property subtype
- Other retail properties
- APN
- SPOR M:074-B L:004-D
- APU
- SPORM074BL004D
Description
This exceptional retail property at 430 Gorham Road in South Portland, Maine, offers 30,000 square feet of space in a high-traffic location. Currently partially occupied by Books-A-Million, this property boasts two suites available for lease, ranging from 2,500 to 8,214 contiguous square feet. A significant 13,214 square feet is currently vacant, presenting a unique opportunity for expansion or multiple tenants. The property sits on a 2.32-acre lot and includes ample on-site parking, a key advantage for customers and employees. Built in 1995, the building is zoned CCR (Central and Regional Commercial District) within Cumberland County, providing flexibility for various retail and restaurant uses. Its strategic location next to Macy's at the Maine Mall ensures high visibility and access to a substantial customer base drawn from throughout New England and Canada. The Maine Mall's status as Maine's premier retail destination further enhances the property's appeal. In addition to the in-line retail space, a pad site is available for lease, suitable for a standalone building of 2,500 to 5,000 square feet, potentially including a drive-thru. This presents a versatile opportunity for a variety of businesses seeking a prominent location within a thriving retail environment. The property's size, location, and existing tenant provide a strong foundation for success.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $7,291,048
- 6.5%
- $6,730,198
- 7%
- $6,249,469
-
Comparable approach
- Method
- Valuation
- Relative Method
- $9,877,896
- Geo Method
- $9,877,896
-
Alternative Use
- Use
- Valuation
- Residential
- $5,677,174
- Hospitality
- $5,200,260
- Educational
- $4,326,556
- Medical
- $4,475,352
- Retail
- $6,730,198
Location Insight
- City
- South Portland
- County
- Cumberland
- State
- Maine
- Latitude
- 43.6367
- Longitude
- -70.3346
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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