St. Petersburg Office Rent Price & Sales Report

Highlights

  • The average rent for office space in St. Petersburg is $49.35 per square foot, 23.19% higher compared to the previous year.
  • The average sale price for office space in St. Petersburg is $164.97 per square foot, marking an increase of 24.62% compared to 2024.
  • The market’s vacancy rate stands at 14.90%, lower than the state average of Florida, which is 15.13%.
  • Renting Class A/A+ office space here costs $59.19 per square foot, while Class B averages $26.93 and Class C stands at $25.00.

2025 Office Space Rent & Sales

  • $49.35 2025 Avg. Asking Rent
  • 23.19% Y-o-Y Avg. Asking Rent Change
  • 14.90% 2025 Office Vacancy Rate
  • $68.8M2025 Total Office Sales
  • $164.97Avg. Sale Price/SF

What is the average asking rent price for office space in St. Petersburg?

Average asking rents for office space here stand at $49.35 per square foot. The local office market recorded an average vacancy rate of 14.90% in 2025, unchanged from 14.90% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $68.8M across 5 sales. These transactions commanded an average sale price per square foot of $164.97.

St. Petersburg, FL Office Asking Rents by Class

What is the average office rent per square foot by property class in St. Petersburg?

  • Avg. Asking Rent Class A & A+$59.19
  • Avg. Asking Rent Class B$26.93
  • Avg. Asking Rent Class C$25.00

The average asking rent for Class A and A+ office space stood at $59.19 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in St. Petersburg averaged $26.93 per square foot, while the average for Class C space was $25.00 per square foot.

What is the average office rent per square foot by property class in FL?

  • Avg. Asking Rent Class A & A+$45.91
  • Avg. Asking Rent Class B$27.03
  • Avg. Asking Rent Class C$19.30

For comparison, the average rent for Class A and A+ office space in Florida was $45.91 per square foot. The state-wide average for Class B space was $27.03 per square foot, and Class C office spaces averaged $19.30 per square foot.

St. Petersburg, FL Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in St. Petersburg was Mid-Pinellas County at 5.20%. Meanwhile, the highest office vacancy rate in the market was 20.67%, recorded in Gateway.
Submarket Asking Rents Vacancy Rates
St Petersburg $55.02 8.07%
Gateway $23.96 20.67%
Mid-Pinellas County $17.92 5.20%
Data provided by Yardi Research

Explore Top Office Markets in Florida

2025 Office Sales Volume

  • $164.972025 Avg. Price per SF
  • 24.62%Y-o-Y Avg. PpSF Change
  • $68.8M2025 Office Sales Volume
  • 52025 Number of Transactions

What is the average sale price per square foot for office space in St. Petersburg?

Average sale prices for office space in this market recorded a +24.62% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $164.97 per square foot. For comparison, the statewide Florida average during the same time period stood at $209.15 per square foot, while the national average was $182.48 per square foot.

St. Petersburg, FL Sale Price per SF Trend

  • St. Petersburg Avg. Sale Price per SF in 2025$164.97
  • Florida Avg. Sale Price per SF in 2025$209.15

What was the total office sales volume in St. Petersburg in 2025?

The local office market recorded 5 deals in 2025, adding up to a yearly sales volume of $68.8M.

  • St. Petersburg, FL Total Office Sales Volume in 2025 $68.8M
  • St. Petersburg, FL Total Number of Office Sales Closed in 2025 5
Data provided by Yardi Research

2025 Office Construction in St. Petersburg, FL

  • St. Petersburg, FL Total SF completed in 2025 183,880

How much office space was built in St. Petersburg in 2025?

183,880 square feet of new office space was delivered across the market in the previous year. New construction included 2 properties, with an average new property size of 91,940 square feet.

What are the largest recent office completions in St. Petersburg?

The largest recent office completion here is 570 Carillon Parkway at 234,709 square feet, completed in 1998. The next largest completions are Webull Financial and Castille at Carillon.

Office building Address SF Completed
Webull Financial 200 Carillon Pkwy, 33716 157,755 2000
Former Fresenius Medical Sublease 650 U.S. 19, 33713 10,109 2000
Castille at Carillon 400 Carillon Pkwy, 33716 138,799 1999
570 Carillon Parkway 570 Carillon Parkway, 33716 234,709 1998
Roosevelt Technology Center 11399 16th Ct N, 33716 110,750 1998
Gateway Medical Suite 8695 4th St N, 33702 3,897 1993
Baypoint | Pasco Building 805 Executive Center Dr W, 33702 83,976 1990
W3 Building 300 First Avenue South, 33701 60,858 1990
Metropointe - Building 1 9700-9790 16th Street, 33716 31,600 1989
The Point at Gateway 10101 Dr Martin Luther King Jr St N, 33716 88,447 1988
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

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.