Commercial Real Estate Market in Belfast, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
70 active listings and 139 off-market properties in Belfast, ME.
Market Trends
Belfast, ME spans 73.1 square miles in Waldo County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Belfast, ME runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Belfast, ME asks $182/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Belfast, ME runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Belfast, ME asks $165/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 67.6%
- Commercial 12.3%
- Residential 11.4%
- Industrial 4.4%
- Mixed use 3.8%
Largest Zones share of zoned land by district
Outside Rural 1
Searsport Avenue Commercial District
Route 3 Rural District
Residential 4 District
Swan Lake Avenue Mixed Use
Outside Rural 1 (OR-1)
The intent of this zone is to promote very low-density rural development with agricultural and open space uses
Market overview
Demographics & Economy
Belfast, ME has 9,110 residents in 5,192 households. Density runs 125 people per square mile. Median household income here is $59,083 and median gross rent $1,009 a month.
9,110
Population
5,192
Households
1.8
Avg Household Size
50
Median Age
44%
College-Educated
94%
High-School Grad
73.1 sq mi
ZIP Area
125
Density / Sq Mi
$59,083
Median Household Income
$39,267
Median Earnings
$1,009
Median Rent
$261,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Waldo | — | — |
| Searsport | — | — |
| Belmont | — | — |
| Northport | — | — |
Commercial property in Belfast, ME asks $19/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Belfast?
Commercial property in Belfast, ME asks an average of $19 per square foot. Retail carries the highest asking price at $182/SF.
Where does Realmo's Belfast market data come from?
Realmo compiles Belfast, ME figures from 69 active sale listings, 1 active lease listings, 139 tracked off-market properties, the current Belfast zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 69 active for-sale and 1 active for-lease listings in Belfast, ME. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 22,057 zoned acres across 26 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
