The typical asking rate per listing is 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 fell $5 per sqft per year. That's a 20% decrease 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 discounted submarket.
In the last 90 days, 13 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 54% of the available space in the South Portland are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, 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 buildings in this area are around 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 around 20 minutes a day is the norm for those who opt to reside in this part of town.