Commercial Real Estate Market in Portland, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
247 active listings and 2,572 off-market properties in Portland, ME. Commercial property asks $280/SF to buy and $18.00/SF/Yr to lease.
Market Trends
Portland, ME spans 79.4 square miles in Cumberland County, Maine. Figures below refresh monthly; last updated 31 October 2026.
Office
Across Cumberland County, office space asks $206/SF to buy. Office vacancy in Portland, ME runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Cumberland County, retail space asks $282/SF to buy. Retail vacancy in Portland, ME runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
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%.
Multifamily
Across Cumberland County, multifamily space asks $268/SF to buy. Multifamily vacancy in Portland, ME runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
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
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.
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.
Tools
Lease vs Buy Breakeven
At $18.00/SF/Yr lease vs $280/SF buy → buying wins if held > 4.1 years.
At a 6.4% 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 | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| South Portland | $238 | $17.00 |
| Falmouth | $290 | — |
| Westbrook | $273 | $15.25 |
Commercial property in Portland, ME asks $280/SF. The 3 bordering markets run from $238/SF in South Portland to $290/SF in Falmouth, and the city sits above their $273/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Portland?
How much does it cost to lease commercial space in Portland?
Is it cheaper to lease or buy commercial space in Portland?
How does Portland compare to nearby markets on price?
What zoning applies to commercial property in Portland?
Where does Realmo's Portland market data come from?
Methodology & data sources
- Asking prices and medians
- There are 178 active for-sale and 69 active for-lease listings in Portland, ME. The medians are based on 158 of the for-sale and 35 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
