Commercial Real Estate Market in South Portland, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
46 active listings and 767 off-market properties in South Portland, ME. Commercial property asks $238/SF to buy and $17.00/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 October 2026.
Office
Across Cumberland County, office space asks $206/SF to buy. Office vacancy in South 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 South 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 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%.
Multifamily
Across Cumberland County, multifamily space asks $268/SF to buy. Multifamily vacancy in South Portland, ME runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
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.
Tools
Lease vs Buy Breakeven
At $17.00/SF/Yr lease vs $238/SF buy → buying wins if held > 3 years.
At a 7.2% 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 |
|---|---|---|
| Portland | $280 | $18.00 |
| Falmouth | $290 | — |
| Westbrook | $273 | $15.25 |
Commercial property in South Portland, ME asks $238/SF. The 3 bordering markets run from $273/SF in Westbrook to $290/SF in Falmouth, and the city sits below their $280/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in South Portland?
How much does it cost to lease commercial space in South Portland?
Is it cheaper to lease or buy commercial space in South Portland?
How does South Portland compare to nearby markets on price?
Where does Realmo's South Portland market data come from?
Methodology & data sources
- Asking prices and medians
- There are 28 active for-sale and 18 active for-lease listings in South Portland, ME. The medians are based on 21 of the for-sale and 11 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.
- 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
