Melbourne Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $19.48 2024 Avg. Asking Rent
  • 8.77% 2024 Office Vacancy Rate
  • $31.7M2024 Total Office Sales
  • $167.79Avg. Sale Price/SF

Melbourne office price per square foot in 2024 was $19.48 on average. The local office market recorded an average vacancy rate of 8.77% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $31.7M. Melbourne office space commanded an average sale price per square foot of $167.79.

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

Melbourne, FL Office Asking Rents by Class

Office Spaces for Rent in Florida

Melbourne Office Sale Price per SF

  • $167.792024 Avg. Price per SF
  • 4.83%Y-o-Y Avg. PpSF Change
  • $31.7M2024 Office Sales Volume
  • 32024 Number of Transactions

Melbourne, FL Sale Price per SF Trend

  • Melbourne Avg. Sale Price per SF in 2024$167.79
  • Florida Avg. Sale Price per SF in 2024$221.95
Melbourne office space cost in 2024 marked a +4.83% change compared to the previous year. The sale price for office space in Melbourne averaged $167.79 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Florida average office sale price during the same time period was $221.95 per square foot.

2024 Office Sales Volume

  • Melbourne, FL Total Office Sales Volume in 2024 $31.7M
  • Melbourne, FL Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Melbourne office market in 2024, adding up to a yearly sales volume of $31.7M. Notably, the largest transaction on the market saw Rialto Place change hands for $23,300,000 on 11/22/2024.
Data provided by Yardi Research

Coworking Spaces in Florida

2024 Office Construction in Melbourne, FL

Largest Office Properties Recently Completed in Melbourne
Office building Address SF Completed
2020 W Eau Gallie Blvd Ste 104 & 105 2020 W Eau Gallie Blvd Ste 104 & 105, 32935 2,617 2014
Class A Office Directly Across from the Melbourne International Airport 1000 Revolution Technologies Way, 32901 17,000 2013
5700 N Hwy 1 5700 N Hwy 1, 32940 71,565 2009
51 Northwest Carolina Street 51 Northwest Carolina Street, 32904 5,720 2009
CasaBella 6032 Farcenda Pl, 32940 5,846 2008
660 S Apollo Blvd 660 S Apollo Blvd, 32901 3,109 2008
Eagle Harbor Downtown 3760 West Eau Gallie Blvd, 32934 28,864 2006
Skyway Business Center 3125 Skyway Circle, 32934 20,074 2006
Indus Pavilion 2200-2290 W. Eau Gallie Blvd, 32935 77,145 2003
1532 N Harbor City Blvd 1532 N Harbor City Blvd, 32935 3,200 2003

Worth noting among recent office completions on the Melbourne market is 2020 W Eau Gallie Blvd Ste 104 & 105, which is currently the largest new office development in the city, at 2,617 square feet.

Data provided by Yardi Research

See reports for other markets

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 Melbourne 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.