Commercial Real Estate Market in Wells, ME
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
63 active listings and 385 off-market properties in Wells, ME. Commercial property asks $13/SF to buy and $21.32/SF/Yr to lease.
Market Trends
Wells, ME spans 57.7 square miles in York County, Maine. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Wells, ME asks $168/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 Wells, ME asks $291/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 Wells, 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 Wells, ME asks $272/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 67.4%
- Commercial 18.1%
- Industrial 3.9%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Rural
Residential A District
Resource Protection
Light Industrial
General Business
Wells, ME zones 37,125 acres across 13 districts. Commercial zoning covers 18.1% of zoned land, residential 67.4% and industrial 3.9%. The largest single district is Rural at 67.4%. For commercial buyers the practical constraint is that only 22% of land carries a commercial or industrial designation.
Rural (R)
Rural District. A. Purpose. The purpose of the Rural District is to maintain the open, rural character of the land within the district. Open uses of the land, such as forestry and agricultural uses, should be encouraged and large-scale residential uses discouraged. Residential development should be clustered so that significant areas of the development can b…
Market overview
Demographics & Economy
Wells, ME has 11,314 residents in 9,590 households. Density runs 196 people per square mile. Median household income here is $83,900 and median gross rent $1,313 a month.
11,314
Population
9,590
Households
1.2
Avg Household Size
53
Median Age
38%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
196
Density / Sq Mi
$83,900
Median Household Income
$47,928
Median Earnings
$1,313
Median Rent
$445,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Kennebunk | — | — |
| Ogunquit | — | — |
| Kennebunkport | — | — |
| North Berwick | — | — |
Commercial property in Wells, ME asks $13/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wells?
Commercial property in Wells, ME asks an average of $13 per square foot. The 5 most recent recorded sales traded at a median of $256/SF. Retail carries the highest asking price at $291/SF.
How much does it cost to lease commercial space in Wells?
Asking lease rates in Wells, ME average $21.32 per square foot per year.
What zoning applies to commercial property in Wells?
Wells, ME zones 37,125 acres across 13 districts, of which 18.1% is commercial and 3.9% industrial. The largest single district is Rural at 67.4% of zoned land. Rural District. A. Purpose. The purpose of the Rural District is to maintain the open, rural character of the land within the district. Open uses of the land, such as forestry and agricultural uses, should be encouraged and large-scale residential uses discouraged. Residential development should be clustered so that significant areas of the development can b… Residential zoning covers 67.4% and open space 0%.
Where does Realmo's Wells market data come from?
Realmo compiles Wells, ME figures from 5 recent recorded sales, 47 active sale listings, 16 active lease listings, 385 tracked off-market properties, the current Wells zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 47 active for-sale and 16 active for-lease listings in Wells, 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: 37,125 zoned acres across 13 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
