Commercial Real Estate Market in Portland, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
264 active listings and 2,572 off-market properties in Portland, ME. Commercial property asks $306/SF to buy and $17.92/SF/Yr to lease.
Market Trends
Portland, ME spans 79.4 square miles in Cumberland County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Portland, ME asks $235/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Portland, ME asks $252/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 Portland, 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 Portland, ME asks $266/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
- Residential 40%
- Open space 17.9%
- Commercial 15.3%
- Industrial 11.5%
Largest Zones share of zoned land by district
Neighborhood Residential
Neighborhood Residential
Recreation And Open Space
Industrial Moderate Impact
Island
Portland, ME zones 12,302 acres across 76 districts. Commercial zoning covers 15.3% of zoned land, residential 40%, open space 17.9% and industrial 11.5%. The largest single district is Neighborhood Residential at 23.3%. For commercial buyers the practical constraint is that only 26.8% of land carries a commercial or industrial designation.
Neighborhood Residential (RN-1)
The intent of this zone is to promote neighborhood residential uses
Market overview
Demographics & Economy
Portland, ME has 118,710 residents in 58,762 households. Density runs 1,496 people per square mile. Median household income here is $92,985 and median gross rent $1,653 a month.
118,710
Population
58,762
Households
2
Avg Household Size
40
Median Age
60%
College-Educated
96%
High-School Grad
79.4 sq mi
ZIP Area
1,496
Density / Sq Mi
$92,985
Median Household Income
$51,726
Median Earnings
$1,653
Median Rent
$505,159
Median Home Value
Tools
Lease vs Buy Breakeven
At $17.92/SF/Yr lease vs $306/SF buy → buying wins if held > 5.7 years.
At a 5.9% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Long Island | — | — |
| South Portland | — | $18.95 |
| Cape Elizabeth | — | — |
| Falmouth | — | — |
Commercial property in Portland, ME asks $306/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Portland?
Commercial property in Portland, ME asks an average of $306 per square foot. The 4 most recent recorded sales traded at a median of $264/SF, so asking sits 16% above the achieved median. Multifamily carries the highest asking price at $266/SF.
How much does it cost to lease commercial space in Portland?
Asking lease rates in Portland, ME average $17.92 per square foot per year.
Is it cheaper to lease or buy commercial space in Portland?
Buying beats leasing in Portland, ME if the property is held longer than 5.7 years, comparing $17.92/SF/Yr asking rent with $306/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Portland?
Portland, ME zones 12,302 acres across 76 districts, of which 15.3% is commercial and 11.5% industrial. The largest single district is Neighborhood Residential at 23.3% of zoned land. The intent of this zone is to promote neighborhood residential uses Residential zoning covers 40% and open space 17.9%.
Where does Realmo's Portland market data come from?
Realmo compiles Portland, ME figures from 6 recent recorded sales, 189 active sale listings, 75 active lease listings, 2,572 tracked off-market properties, the current Portland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 189 active for-sale and 75 active for-lease listings in Portland, 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: 12,302 zoned acres across 76 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
