Most listings are in the $20's per square foot per year. The South Portland region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Greater Portland market, the South Portland submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 13 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 54% of the available leases in the South Portland are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,940 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 3 stories. 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 region. Commute by public transit is the most popular way to get to work amongst South Portland residents. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.