230-232 Main StGorham, NH 03581

Property Details for 230-232 Main St

Year built

1880

Construction

FRAME

Lot size

1.20 AC

Property size (Sq ft)

5,654 SF

Zone code

CA

Property type

Office buildings

APN

GORH M:U6 L:37

APU

GORHMU6L37

Description

This exceptional commercial property at 230-232 Main Street in Gorham, NH, presents a unique investment opportunity. Situated on a 1.2-acre lot directly on busy Routes 16 and 2, next to McDonald's, this two-story building boasts 8,932 square feet of space. The main floor features multiple office spaces, with half currently leased to an established tenant. Upstairs, a cozy one-bedroom apartment provides additional income potential. This apartment is currently partially finished, offering significant upside for expansion into more living space or additional office areas. The property includes ample parking in both the front and rear, with a large backyard extending to the Androscoggin River. Its convenient location offers easy access to local trails and the attractions of the North Country and White Mountains, making it ideal for a variety of businesses. The high visibility and established tenant base make this a strong investment with significant potential for growth and increased revenue. The combination of commercial and residential space provides a diversified income stream, making it an attractive option for savvy investors seeking a property with both immediate and long-term returns. The large lot and river access add to the property's overall appeal and potential for future development.

• CAP approach

  CAP return

  Valuation

  6%

  $1,031,111

  6.5%

  $951,795

  7%

  $883,809

• Comparable approach

  Method

  Valuation

  Relative Method

  $739,746

  Geo Method

  $738,752

• Alternative Use

  Use

  Valuation

  Residential

  $1,180,226

  Hospitality

  $1,081,080

  Educational

  $899,446

  Medical

  $930,379

  Retail

  $1,399,138

Location Insight

City

Gorham

County

Coos

State

New Hampshire

Latitude

44.3931

Longitude

-71.1865

CBSA code

13620

CBSA name

BERLIN, NH-VT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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