Lake Mary Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $27.55 2024 Avg. Asking Rent
  • 26.91% 2024 Office Vacancy Rate

Lake Mary office price per square foot in 2024 was $27.55 on average. The local office market recorded an average vacancy rate of 26.91% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Lake Mary, FL Office Asking Rents by Class

2024 Office Vacancy Rates in Lake Mary

Submarket Asking Rents Vacancy Rates
Lake Mary $27.14 24.96%
Sanford $22.83 10.51%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Lake Mary market was 26.91% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Lake Mary was 10.51% in the Sanford submarket, while the highest office vacancy in the market was 24.96%, recorded in Lake Mary.

Office Spaces for Rent in Florida

Coworking Spaces in Florida

2024 Office Construction in Lake Mary, FL

  • Lake Mary, FL Total SF under construction in 2025 28,000
Largest Office Properties Recently Completed in Lake Mary
Office building Address SF Completed
Office Biscayne, brand new medical/prof office suites 3416 West Lake Mary Boulevard, 32746 21,483 2026
Office Biscayne, brand new medical/prof office suites 3416 West Lake Mary Boulevard, 32746 21,483 2026
Alhambra Medical Park, brand new medical office suites 2801 W Lake Mary Blvd, 32746 17,282 2026
Edison Lake Mary - 744 Primera Blvd 744 Primera Blvd, 32746 108,000 2018
Colonial Center 300 at TownPark 300 Colonial Center Pkwy, 32746 149,487 2006
1485 International Pkwy 1485 International Pkwy, 32746 27,540 2006
Rinehart Ridge IV 660 Century Pt, 32746 6,535 2006
1525 International Pkwy #4051 1525 International Pkwy , 32746 3,332 2006
1301 South International Pkwy #2441 1301 South International Pkwy, 32746 2,248 2005
Colonial Center 200 at TownPark 200 Colonial Center Pkwy, 32746 155,203 2002

Worth noting among recent office completions on the Lake Mary market is Office Biscayne, brand new medical/prof office suites, which is currently the largest new office development in the city, at 21,483 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Lake Mary commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.