On average, listings lease in the $20's per square foot per year. The South Portland submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Greater Portland market, the South Portland region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 13 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,940 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this market were built in 1954 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst South Portland folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.