Commercial Real Estate Market in Palmyra, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 8 off-market properties in Palmyra, ME.
Market Trends
Palmyra, ME spans 40.2 square miles in Somerset County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Palmyra, 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 Palmyra, ME asks $119/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 Palmyra, 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 Palmyra, ME asks $101/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
Market overview
Demographics & Economy
Palmyra, ME has 1,924 residents in 879 households. Density runs 48 people per square mile. Median household income here is $49,261 and median gross rent $763 a month.
1,924
Population
879
Households
2.2
Avg Household Size
49
Median Age
17%
College-Educated
89%
High-School Grad
40.2 sq mi
ZIP Area
48
Density / Sq Mi
$49,261
Median Household Income
$39,821
Median Earnings
$763
Median Rent
$123,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Newport | — | — |
| Pittsfield | — | — |
| Detroit | — | — |
| Saint Albans | — | — |
Commercial property in Palmyra, ME asks $8/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Palmyra?
Commercial property in Palmyra, ME asks an average of $8 per square foot. Retail carries the highest asking price at $119/SF.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 0 active for-lease listings in Palmyra, 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.
- 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
