Cumberland County · South Portland
Sell Your Commercial Property In South Portland, ME
Skyline Capital Investments buys commercial apartment buildings of 5+ units in South Portland and across Cumberland County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
South Portland Submarkets: Knightsville · Ferry Village · Mill Creek · Cape Elizabeth — Cumberland County, ME
Why South Portland
Why We Buy Multifamily In South Portland
South Portland, Maine has 26,930 residents in ACS 2020-2024, the Census five-year estimate. Renters occupy 41.9 percent of homes, and 3,318 homes sit in buildings of five or more units. The median household income is $86,838, and the median gross rent is $1,812.
Owners who want to sell commercial property in South Portland, ME face a tight market, with rental vacancy at 2.6 percent. The 2026-27 tax rate is $13.79 per $1,000. A city ordinance limits yearly rent increases to 10 percent for larger portfolios through May 27, 2030.
Demand draws on the Maine Mall, Southern Maine Community College and jobs in neighboring Portland. HUD's FY2027 two-bedroom fair market rent for the Portland, ME HUD Metro FMR Area is $2,353.
This profile brings Census, HUD, South Portland tax and code data and Maine statutes onto one page, dated to ACS 2020-2024 and HUD's FY2027 fair market rents. Skyline Capital Investments buys apartment buildings with five or more units.
Maine Mall tax base
GGP - Maine Mall, LLC was South Portland's largest taxpayer in 2025, assessed at $192,070,600, per the city's FY2025 financial report. The mall sits at 364 Maine Mall Road.Southern Maine Community College
SMCC's campus sits at 2 Fort Road in South Portland. It reported 7,900 students for fall 2024 to NCES and ranks fourth among city employers, with 501 to 1,000 workers.Healthcare jobs in Portland
Maine Medical Center employs over 9,000 care team members across Portland, Biddeford and Sanford. ACS 2020-2024 shows 57.3 percent of South Portland workers work outside the city.Our Buy Box
What We Buy In South Portland
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
South Portland Apartment Market
Figures gathered October 2026 from public market data.
Who rents in South Portland
Renters occupy 41.9 percent of South Portland's occupied homes, 5,089 of 12,152, in ACS 2020-2024 tenure data. Cumberland County's renter share is 30.2 percent in its county tenure table.
South Portland's median household income is $86,838 in ACS 2020-2024. Cumberland County's median is $95,677 in its county income table, $8,839 higher.
Some 9,287 of 16,201 South Portland workers, 57.3 percent, work outside the city, per ACS commuting table B08008. In neighboring Portland, Maine Medical Center employs over 9,000 care team members across three campuses, per its MaineHealth about page.
Southern Maine Community College sits at 2 Fort Road in South Portland. It reported 7,900 students for fall 2024 on NCES College Navigator. The FY2025 city financial report ranks it fourth among local employers, with 501 to 1,000 workers.
Rents and affordability in South Portland
South Portland's median gross rent is $1,812 a month in ACS 2020-2024. Annualized, that equals 25.0 percent of the city's median household income. Cumberland County's median gross rent is $1,589 in its county rent table, $223 lower.
Portland's median gross rent is $1,577 in its city rent table, $235 below South Portland. Portland's renter share is 53.1 percent in its tenure table. See our Portland, ME market page.
HUD's FY2027 two-bedroom fair market rent for the Portland, ME HUD Metro FMR Area is $2,353, per HUD fair market rents. That is $541 above South Portland's median gross rent. The FY2027 figures took effect October 1, 2026.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,639 |
| One bedroom | $1,864 |
| Two bedroom | $2,353 |
| Three bedroom | $2,902 |
| Four bedroom | $3,092 |
In South Portland, 53.2 percent of renter households spend 30 percent or more of income on rent, per ACS 2020-2024. Some 18.6 percent spend half or more. Cumberland County shows 47.1 and 20.1 percent in its county table.
South Portland's apartment stock
South Portland has 3,318 homes in buildings of five or more units, 26.0 percent of 12,782 housing units, in ACS 2020-2024. Another 1,928 homes, 15.1 percent, sit in two- to four-unit buildings.
Cumberland County counts 22,943 homes in five-plus-unit buildings in its county table, 15.0 percent of its stock. South Portland holds 14.5 percent of those larger-building homes.
South Portland's median home was built in 1968, per ACS 2020-2024. Some 60.8 percent of homes predate 1980 in the year-built table, against 54.9 percent countywide in the county table.
South Portland's rental vacancy rate is 2.6 percent in ACS profile table DP04. Cumberland County sits at 2.9 percent and Maine at 4.2 percent in the county and state tables. That occupancy is the first number buyers test when owners sell commercial real estate in South Portland, ME.
Red Bank Village Apartments Property Owner LLC was South Portland's second-largest taxpayer in 2025, per the FY2025 annual financial report. Its assessment was $98,165,600, or 1.48 percent of the city total.
Property taxes in Cumberland County
South Portland's 2026-2027 tax rate is $13.79 per $1,000 of assessed value, per the South Portland Assessing Department. The final FY2026 rate was $13.65, per a city tax notice. The current rate equals 1.379 percent of assessed value.
On a $2,000,000 assessment, $13.79 per $1,000 produces $27,580 a year. The same assessment owed $27,300 at the FY2026 rate, $280 less.
South Portland declares a 100 percent certified ratio on its assessing page. The assessor's December 2025 council presentation says that ratio means assessments sit within 10 percent of full market value. It adds that cost, income and sales comparison approaches are all considered under 36 M.R.S. sections 701 and 701-A.
GGP - Maine Mall, LLC was the largest taxpayer in 2025 at $192,070,600, per the FY2025 report. The 2026-27 abatement deadline is January 19, 2027.
Abatement requests are due within 185 days of commitment under 36 M.R.S. section 841. Owners who sell commercial property in South Portland, ME also pay Maine's transfer tax under 36 M.R.S. section 4641-A. The rate is $2.20 per $500, plus $3.80 per $500 above $1,000,000 for transfers since November 1, 2025, per Maine Revenue Services. A $2,000,000 sale owes $16,400, split $8,200 each between seller and buyer.
Landlord rules in South Portland
South Portland requires 90 days' written notice of any rent increase under Sec. 12-223 of the city code. Tenants get at least 45 days from receipt to accept or reject the new rent.
South Portland's rent stabilization ordinance sets a 10 percent annual rent adjustment under Article XII of Chapter 12. It exempts owners holding 15 or fewer units with affiliates, and units first given a certificate of occupancy on or after May 27, 2023. Article XII repeals itself on May 27, 2030.
Under Sec. 12-504, rent may rise only once in 12 months, even after a change of owner. Units renting at or below the Portland-area HUD fair market rent are exempt from the 10 percent section, but 90-day notice still applies. Rent may reset after a unit is completely vacant.
Owners of buildings with three or more units must register with the Code Enforcement Officer under Chapter 5, Article VII. A new owner must register within 30 days of purchase. Anyone selling commercial property in South Portland should hand over registrations and rent-increase notices, which landlords must keep for six years.
Maine caps security deposits at two months' rent under 14 M.R.S. section 6032. Under section 6033, deposits return within the lease's stated time, up to 30 days, or 21 days for a tenancy at will. A tenancy at will needs 30 days' notice, and a tenant 7 days or more in arrears may get 7 days' notice under 14 M.R.S. section 6002.
What this means for a South Portland owner
Buyers will weigh South Portland's 2.6 percent vacancy and $1,812 median rent against the $2,353 HUD two-bedroom benchmark. The city's rent stabilization Q&A applies the cap to units in portfolios of 16 or more, so a buyer's portfolio size shapes the rent plan.
Taxes are steadier for anyone who wants to sell commercial property in South Portland, ME. The 2026-27 rate rose 1.0 percent, and a $2,000,000 assessment owes $27,580. Bring the tax bill, assessment card, registration and rent-increase notices to the first buyer meeting.
Skyline Capital Investments buys apartment buildings with five or more units. To sell your apartment building in South Portland, start with our cap rate calculator and the steps to sell my apartment building.
Seller Notes
What Shapes A South Portland Offer
More about selling in Maine →Investing in South Portland? See apartment syndications in South Portland →
- South Portland's 2026-27 rate of $13.79 per $1,000 puts $27,580 on a $2,000,000 assessment, up $280 from the FY2026 bill.
- Rent increases in South Portland need 90 days' written notice under Sec. 12-223, and landlords must keep delivery records for six years.
- Owners preparing to sell commercial real estate in South Portland, ME should confirm Chapter 5 ownership registration, since a new owner must register within 30 days of purchase.
- To sell multifamily property in South Portland, document capital work, since 60.8 percent of South Portland homes were built before 1980 (ACS 2020-2024).
Seller Guides
Your Situation, Handled — South Portland
Learn More
Taxes & Rules For South Portland Property
The Maine rules that shape any deal in South Portland: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
South Portland Seller FAQ
What should I know before I sell commercial property in South Portland, ME?
Buyers start with South Portland's 2.6 percent rental vacancy rate, 41.9 percent renter share and $1,812 median gross rent from ACS 2020-2024. They then test taxes at the 2026-27 rate of $13.79 per $1,000 and review compliance with the city's 90-day rent-increase notice and 10 percent rent stabilization rules. Assemble the rent roll, tax bill, registration and notices before you list.
How much property tax does a $2,000,000 apartment building pay in South Portland?
At South Portland's 2026-27 rate of $13.79 per $1,000, a $2,000,000 assessment owes $27,580 a year, compared with $27,300 at the final FY2026 rate of $13.65. South Portland declares a 100 percent certified ratio. Abatement requests are due within 185 days of commitment under 36 M.R.S. section 841, and the 2026-27 deadline is January 19, 2027.
How does the rent cap affect how I sell commercial real estate in South Portland, ME?
Article XII of South Portland's Chapter 12 sets a 10 percent annual rent adjustment and allows one increase per 12 months, even after a change of owner. Owners holding 15 or fewer units with affiliates are exempt, as are units first given a certificate of occupancy on or after May 27, 2023. Rent may reset after a unit is fully vacant, and the article repeals itself on May 27, 2030.
How much transfer tax is due on a $2,000,000 building sale in South Portland?
Maine charges $2.20 per $500 of value under 36 M.R.S. section 4641-A. Transfers since November 1, 2025 add $3.80 per $500 above $1,000,000. A $2,000,000 sale owes $8,800 plus $7,600, or $16,400. The tax falls half on the seller and half on the buyer, so each pays $8,200 when you sell your apartment building in South Portland at that price.
Does South Portland require landlords to register rental buildings?
Yes. Chapter 5, Article VII of South Portland's code requires owners of buildings with three or more dwelling or rooming units to register with the Code Enforcement Officer. A new owner must register within 30 days of purchase, and filings must be updated within 30 days of a transfer or management change. Renting units in an unregistered building is a civil violation, counted daily.
What are Maine's security deposit and notice rules for South Portland landlords?
Maine caps a residential deposit at two months' rent under 14 M.R.S. section 6032. Deposits go back within the lease's stated time, up to 30 days, or 21 days after a tenancy at will ends. A tenancy at will needs 30 days' written notice, and a tenant 7 days or more in arrears may get 7 days' notice. South Portland adds 90 days' notice for rent increases.
Will you buy a South Portland property that needs work or has high vacancy?
Yes. We regularly evaluate value-add, mismanaged, and distressed multifamily properties and underwrite them as they are today — no repairs or lease-up required before selling.
Can I sell my South Portland apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Is it possible to sell rental property in South Portland without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
How fast can I sell my apartment building in South Portland?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Have A Property In South Portland?
A few details are enough to start. We respond to every South Portland submission, including off-market and pocket listings.
