Commercial Real Estate Market in South Portland, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
45 active listings and 767 off-market properties in South Portland, ME. Commercial property asks $191/SF to buy and $18.95/SF/Yr to lease.
Market Trends
South Portland, ME spans 12.2 square miles in Cumberland County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in South 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 South 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 South 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 South 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
Market overview
Demographics & Economy
South Portland, ME has 26,641 residents in 12,849 households. Density runs 2,189 people per square mile. Median household income here is $83,744 and median gross rent $1,642 a month.
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,189
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
Tools
Lease vs Buy Breakeven
At $18.95/SF/Yr lease vs $191/SF buy → buying wins if held > 1.4 years.
At a 9.9% 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 |
|---|---|---|
| Portland | — | $17.92 |
| Cape Elizabeth | — | — |
| Long Island | — | — |
| Falmouth | — | — |
Commercial property in South Portland, ME asks $191/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in South Portland?
Commercial property in South Portland, ME asks an average of $191 per square foot. Multifamily carries the highest asking price at $266/SF.
How much does it cost to lease commercial space in South Portland?
Asking lease rates in South Portland, ME average $18.95 per square foot per year.
Is it cheaper to lease or buy commercial space in South Portland?
Buying beats leasing in South Portland, ME if the property is held longer than 1.4 years, comparing $18.95/SF/Yr asking rent with $191/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.
Where does Realmo's South Portland market data come from?
Realmo compiles South Portland, ME figures from 6 recent recorded sales, 26 active sale listings, 19 active lease listings, 767 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 26 active for-sale and 19 active for-lease listings in South 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.
- 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
