Pensacola Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $25.07 2024 Avg. Asking Rent
  • 10.34% 2024 Office Vacancy Rate

Pensacola office price per square foot in 2024 was $25.07 on average. The local office market recorded an average vacancy rate of 10.34% 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

Pensacola, FL Office Asking Rents by Class

2024 Office Vacancy Rates in Pensacola

Submarket Asking Rents Vacancy Rates
Pensacola Center $28.72 10.46%
Pensacola North $19.47 16.50%
Pensacola Northeast $17.38 8.37%
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 Pensacola market was 10.34% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Pensacola was 8.37% in the Pensacola Northeast submarket, while the highest office vacancy in the market was 16.50%, recorded in Pensacola North.

Office Spaces for Rent in Florida

Coworking Spaces in Florida

2024 Office Construction in Pensacola, FL

Largest Office Properties Recently Completed in Pensacola
Office building Address SF Completed
801 W Romana St 801 W Romana St, 32502 8,140 2007
Freestanding 8,461 SF Office Building | 2.06 Acres 5061 N 12th Ave, 32504 8,461 2003
Summit Office Suites 3298 Summit Blvd, Building 22, 32504 6,042 2002
Cordova Center 2065 Airport Blvd, 32504 10,773 2000
Purple Parrot Tiki Bar & Grill 13555 Perdido Key Dr, 32507 1,548 2000
Icehouse 815 South Palafox St., 32505 18,994 1999
4301 Spanish Trail 4301 Spanish Trl, 32504 3,424 1988
Corporate Woods - 2114 Airport Blvd 2114 Airport Blvd, 32504 45,230 1987
HARBOURVIEW ON THE BAY 25 W CEDAR ST 25 West Cedar Street, 32502 69,473 1986
Corporate Woods 2190 Airport Blvd, 32504 46,561 1986

Worth noting among recent office completions on the Pensacola market is 801 W Romana St, which is currently the largest new office development in the city, at 8,140 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 Pensacola 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.