2023 Office Space Rent & Sales
- $22.28 2023 Avg. Asking Rent
- -4.13% Y-o-Y Avg. Asking Rent Change
- 9.67% 2023 Office Vacancy Rate
Melbourne office price per square foot in 2023 was $22.28 on average. This marked a -4.13% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.67% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Melbourne Class A & A+ Office Space$17.70
- Melbourne Class B Office Space$24.09
- Melbourne Class C Office Space$19.74
- Florida Class A & A+ Office Space$36.87
- Florida Class B Office Space$27.52
- Florida Class C Office Space$32.32
Melbourne, FL Office Asking Rents by Class
Average office rent in Melbourne rested at $22.28 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Melbourne averaged $17.70 per square foot. Across all submarkets, class B office space recorded an average asking rent of $24.09 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.74 per square foot, on average. Comparably, statewide Florida average office rents by class in 2023 were: $36.87 per square foot for class A office space; $27.52 per square foot for class B office space; $32.32 per square foot for class C office space.
Coworking Spaces in Florida
- Houston Coworking Space
- Atlanta Coworking Space
- Dallas Coworking Space
- Miami Coworking Space
- Austin Coworking Space
- Charlotte Coworking Space
- Nashville Coworking Space
- Raleigh Coworking Space
- Tampa Coworking Space
- Jacksonville Coworking Space
- Orlando Coworking Space
- Boca Raton Coworking Space
- Fort Lauderdale Coworking Space
- Memphis Coworking Space
- West Palm Beach Coworking Space
- Durham Coworking Space
- Birmingham Coworking Space
- New Orleans Coworking Space
- Alpharetta Coworking Space
- Chattanooga Coworking Space
- Miami Beach Coworking Space
2023 Office Construction in Melbourne, FL
Office building | Address | SF | Completed |
---|---|---|---|
1905-1915 Airport Blvd. - Sandy's Place | 1905-1915 Airport Blvd. , 32901 | 7,326 | 2015 |
2020 W Eau Gallie Blvd | 2020 W Eau Gallie Blvd, 32935 | 2,617 | 2014 |
336 N Babcock St | 336 N Babcock St, 32935 | 1,260 | 2008 |
2713 W Eau Gallie Blvd | 2713 W Eau Gallie Blvd, 32935 | 1,165 | 2007 |
Suntree Office Tower | 6905 North Wickham Road, 32940 | 74,790 | 2006 |
141 Coconut Dr | 141 Coconut Dr, 32903 | 4,000 | 2004 |
Indus Pavilion | 2200-2290 W. Eau Gallie Blvd, 32935 | 77,145 | 2003 |
1990 West NASA Blvd | 1990 West NASA Blvd, 32901 | 191,500 | 2000 |
The Space Center | 1735 W Hibiscus Blvd, 32901 | 17,961 | 2000 |
The Space Center | 1735 W Hibiscus Blvd Ste 300 , 32901 | 5,800 | 2000 |
Worth noting among recent office completions on the Melbourne market is 1905-1915 Airport Blvd. - Sandy's Place, which is currently the largest new office development in the city, at 7,326 square feet.
See reports for other markets
- Jacksonville Office Rent Price
- Miami Office Rent Price
- Tampa Office Rent Price
- Orlando Office Rent Price
- Fort Lauderdale Office Rent Price
- Sarasota City Office Rent Price
- St. Petersburg Office Rent Price
- Boca Raton Office Rent Price
- Doral Office Rent Price
- Fort Myers Office Rent Price
- West Palm Beach Office Rent Price
- Lake Mary Office Rent Price
- Pensacola Office Rent Price
- Maitland Office Rent Price
- Winter Park Office Rent Price
- Hollywood Office Rent Price
- Coral Gables Office Rent Price
- Palm Beach Gardens Office Rent Price
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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.