The typical asking rate per listing is in the $20's per square foot per year. The South Portland submarket is going through 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 submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 13 listings have been made available, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 new availabilities below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this area 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 area. Commute by public transit is the most popular way to get to work amongst South Portland folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.