2024 Office Space Rent & Sales
- $28.48 2024 Avg. Asking Rent
- 20.66% 2024 Office Vacancy Rate
Melville office price per square foot in 2024 was $28.48 on average. The local office market recorded an average vacancy rate of 20.66% 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
- Melville Class A & A+ Office Space$30.84
- Melville Class B Office Space$25.92
- Melville Class C Office Space$19.50
- New York Class A & A+ Office Space$59.04
- New York Class B Office Space$43.55
- New York Class C Office Space$35.67
Melville, NY Office Asking Rents by Class
Average office rent in Melville rested at $28.48 per square foot in 2024. 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 Melville averaged $30.84 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.92 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.50 per square foot, on average. Comparably, statewide New York average office rents by class in 2024 were: $59.04 per square foot for class A office space; $43.55 per square foot for class B office space; $35.67 per square foot for class C office space.
Office Spaces for Rent in New York
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 1860 Walt Whitman Road | 1860 Walt Whitman Road, 11747 | 42,000 | 2009 |
| RXR Executive Park - 68 South Service Road | 68 South Service Road, 11747 | 307,754 | 2006 |
| 40 Marcus Drive | 40 Marcus Drive, 11747 | 90,390 | 2005 |
| RXR Executive Park - 58 South Service Road | 58 South Service Road, 11747 | 285,571 | 2002 |
| Three Greenway Plaza | 155 Pinelawn Road, 11747 | 102,000 | 2000 |
| Melville Law Center | 225 Old Country Road, 11747 | 37,618 | 1997 |
| 41 Pinelawn Road | 41 Pinelawn Road, 11747 | 62,234 | 1995 |
| The Melville Office Plaza | 175 Pinelawn Road, 11747 | 103,192 | 1990 |
| 1121 Walt Whitman Road | 1121 Walt Whitman Road, 11747 | 39,250 | 1990 |
| Two Greenway Plaza | 145 Pinelawn Road, 11747 | 102,000 | 1989 |
Worth noting among recent office completions on the Melville market is 1860 Walt Whitman Road, which is currently the largest new office development in the city, at 42,000 square feet.
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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 CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Melville 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.