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Investment & Commercial
Industrial sales, multifamily acquisitions, 1031 exchanges, and commercial land — for serious investors who need a local operator who runs the numbers first.
How I Can Help
Southern Maine multifamily has shifted from frenzy to fundamentals. Portland transaction volume is up 25% year-over-year — demand is present — but buyers are underwriting on current NOI, not projected rent bumps. Rents have flattened across the market, the traditional value-add playbook is harder to execute, and elevated borrowing costs have reset expectations. The opportunity now is disciplined acquisition: conservatively underwritten, correctly priced, and positioned for long-term hold in a supply-constrained coastal market.
I work with investors acquiring 2–20+ unit buildings — stabilized cash-flow plays, owner-occupied 2–4 unit acquisitions exempt from Portland rent control, and portfolio scaling via 1031 rollover. Every deal gets underwritten before we set foot in a building.
Portland transaction volume up 25% YoY. Median sale price $850,000 (all MF). Well-priced assets still move — market is liquid, not broken.
Portland income plays pushing toward 8%+. Lewiston/Auburn: 8.5–11%. Buyers underwriting on current NOI — value-add assumptions have been priced out.
Rents largely flat across Southern Maine. Portland rent control caps increases at ~2–2.5%/year. Seasonal softness more pronounced in Biddeford and Saco.
Lewiston/Auburn (highest cap rates, still appreciating). Portland (strongest liquidity, rent control awareness required). Saco/Biddeford (adjusting — buyer leverage returning).
Southern Maine's industrial market is in transition. Overall vacancy has climbed to 3.32% — a 7-year high — but remains objectively low by national standards. The meteoric run has cooled: inventory has risen, larger spaces (20,000+ SF) are sitting longer, and tenants are beginning to regain leverage. Meanwhile, sale pricing is at all-time highs and owner-user demand for small-bay product under 10,000 SF remains intensely competitive.
I represent buyers, sellers, landlords, and tenants in industrial transactions — from single-tenant NNN dispositions to sale-leasebacks, multi-building portfolio sales, and long-term lease structures for owner-operators.
3.32% across Southern Maine (1,054 buildings, 36M+ SF tracked). Greater Portland submarket: 2.71%. Falmouth, Yarmouth, Kennebunk, Saco all at or near 0%.
Avg. asking lease rate: $9.65/SF NNN. Owner-user small-bay assets (<10,000 SF) trading above $200/SF. Sale prices trending toward all-time highs.
Vacancy rose 81% in 18 months (1.84% Jan 2021 → 3.32% today). Larger blocks (20K+ SF) absorbing more slowly. Small-bay remains landlord-favorable with competitive pricing.
Scarborough (2.8%), Westbrook (1.2%), Biddeford (3.0%), Saco (0.5%). Falmouth, Yarmouth, and Kennebunk all at or near 0% — virtually nothing available.
Southern Maine has some of the last underdeveloped commercial corridor land in coastal New England at prices that make development pencil. Route 1 frontage, I-95 interchange sites, and mixed-use infill parcels in Portland and surrounding towns represent real opportunities for developers who move before the market catches up.
I identify land, run the zoning and entitlement risk analysis, and connect buyers with the local permitting relationships that determine whether a deal moves forward or stalls.
Route 1 (Saco to Kittery), Route 9 (Westbrook industrial), Forest Ave corridor (Portland), Route 302 (Westbrook/Windham).
C/I (Commercial/Industrial), B1/B2 Business zones, and Development District overlays across Cumberland and York counties.
90–270 days depending on environmental review, board approval, and financing — longer for sites requiring rezoning.
Industrial park development, NNN pad sites, multi-tenant retail/office, and mixed-income residential by-right parcels.
A properly executed 1031 exchange lets you defer capital gains taxes and roll appreciated equity into a higher-quality asset — often doubling your effective purchasing power compared to a taxable sale. Maine offers some of the strongest replacement property options available given current inventory and pricing.
I work closely with your qualified intermediary (QI) and tax advisor to identify suitable replacement properties within the 45-day identification window and close within the 180-day exchange period.
45 calendar days from relinquished property closing to identify replacement properties in writing — this is non-negotiable.
180 days total from relinquished property closing to close on all replacement properties.
Broad — any investment or business real estate qualifies as like-kind for another. Residential rentals, commercial, industrial, and land all qualify.
Consult with a CPA or tax attorney before initiating any 1031 exchange. Rules are strict and mistakes are costly.
The Market Case
Boston and NYC capital is discovering what local operators have known for years — Southern Maine offers coastal New England quality at interior New England prices, with fundamentals improving quarter over quarter.
Southern Maine multifamily has moved from frenzy to fundamentals. Rents have flattened after years of growth, and buyers are back to underwriting on current NOI. Portland median multifamily sale price: $850,000. Income plays in Lewiston/Auburn yielding 8.5–11%. This is where disciplined buyers operate.
Southern Maine industrial vacancy sits at 3.32% — low by national standards — while sale prices have reached record levels. Owner-user assets under 10,000 SF are trading above $200/SF with compressed time on market.
Southern Maine industrial and multifamily trades at significant discounts to comparable Massachusetts and Connecticut assets — creating room for appreciation as out-of-state capital continues to flow north.
Scarce developable land in coastal Southern Maine limits new supply creation — a structural ceiling that protects existing asset values and cap rates over the long term.
How It Works
From first conversation to closed deal — here's how I work with investors and commercial clients.
30-minute conversation to understand your capital, timeline, return targets, and risk tolerance. No obligation — just clarity.
I bring you opportunities matching your criteria — on-market and off-market — with underwriting already done so you're not wasting time.
Inspection coordination, title review, lease abstracts, zoning verification, and hard negotiation on price and terms.
Smooth transaction management to closing — and ongoing advisory as you scale your Maine portfolio.
Let's talk numbers
Whether you're entering the Southern Maine market for the first time or scaling an existing portfolio — let's build the right strategy for your capital.
Brent Maurice · Real Broker, LLC · Portland, ME · Licensed in Maine · (855) 450-0442 | Equal Housing Opportunity | Real Broker, LLC is a licensed real estate brokerage in the state of Maine.