Orlando Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $32.66 2024 Avg. Asking Rent
  • 16.98% 2024 Office Vacancy Rate
  • $270.6M2024 Total Office Sales
  • $227.55Avg. Sale Price/SF

Orlando office price per square foot in 2024 was $32.66 on average. The local office market recorded an average vacancy rate of 16.98% across all asset classes combined. The 17 transactions that closed here throughout 2024 amounted to a total sale volume of $270.6M. Orlando office space commanded an average sale price per square foot of $227.55.

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

  • Orlando Class A & A+ Office Space$36.53
  • Orlando Class B Office Space$26.49
  • Orlando Class C Office Space$19.00
  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Orlando, FL Office Asking Rents by Class

Average office rent in Orlando rested at $32.66 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 Orlando averaged $36.53 per square foot. Across all submarkets, class B office space recorded an average asking rent of $26.49 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.00 per square foot, on average. Comparably, statewide Florida average office rents by class in 2024 were: $40.20 per square foot for class A office space; $27.71 per square foot for class B office space; $22.62 per square foot for class C office space.

2024 Office Vacancy Rates in Orlando

Submarket Asking Rents Vacancy Rates
SE Orange County $39.78 29.01%
Kissimmee $39.52 9.41%
Northeast Orlando $39.21 12.71%
Downtown Orlando $37.09 16.48%
University $29.55 23.98%
Tourist Corridor $28.64 14.28%
Maitland $28.54 18.19%
Metro West - Park Central $27.88 6.64%
Southeast Orlando $24.58 14.83%
Northwest Orlando $22.78 20.17%
Data provided by Commercial Edge
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 Orlando market was 16.98% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Orlando was 6.64% in the Metro West - Park Central submarket, while the highest office vacancy in the market was 29.01%, recorded in SE Orange County.

Office Spaces for Rent in Florida

Orlando Office Sale Price per SF

  • $227.552024 Avg. Price per SF
  • 44.91%Y-o-Y Avg. PpSF Change
  • $270.6M2024 Office Sales Volume
  • 172024 Number of Transactions

Orlando, FL Sale Price per SF Trend

  • Orlando Avg. Sale Price per SF in 2024$227.55
  • Florida Avg. Sale Price per SF in 2024$221.95
Orlando office space cost in 2024 marked a +44.91% change compared to the previous year. The sale price for office space in Orlando averaged $227.55 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

  • Orlando, FL Total Office Sales Volume in 2024 $270.6M
  • Orlando, FL Total Number of Office Sales Closed in 2024 17
A total of 17 deals closed on the Orlando office market in 2024, adding up to a yearly sales volume of $270.6M. Notably, the largest transaction on the market saw Lakefront I & II change hands for $25,000,000 on 6/12/2024.

Largest Orlando Office Sales in 2024

Property name Address Date Price
Lakefront I & II 6101 Chancellor Drive 6/12/2024 $25,000,000
Plaza Central 6220 South Orange Blossom Trail 4/18/2024 $21,560,000
9495 Delegates Drive 9495 Delegates Drive 5/8/2024 $16,800,000
Global Business Center 5770 Hoffner Avenue 3/28/2024 $15,550,000
Reserve at Maitland - 65 South Keller Road 65 South Keller Road 9/6/2024 $15,000,000
Data provided by Commercial Edge

Coworking Spaces in Florida

2024 Office Construction in Orlando, FL

  • Orlando, FL Total SF completed in 2024 304,475
  • Orlando, FL Total SF under construction in 2025 176,040

During 2024, 304,475 square feet of new office space were delivered across the market. At the close of 2024, the Orlando office inventory included 5 buildings equal to or larger than 25,000 square feet, which comprised 304,475 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 176,040 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Orlando
Office building Address SF Completed
Nona Medical Center at East Park Village 10760 Moss Rose Way, 32832 45,000 2025
2130 South Orange Avenue 2130 South Orange Avenue, 32806 53,048 2024
3872 Old Winter Garden Rd 3872 Old Winter Garden Rd, 34734 28,000 2024
One Performance Plaza 6424 Alexandra Louise Drive, 32827 152,784 2023
Lake Nona Town Center - 13495 Veterans Way 13495 Veterans Way, 32827 68,398 2022
295 NE Ivanhoe Blvd 295 NE Ivanhoe Blvd, 32804 20,000 2021
Lake Nona Medical Office Building 6718 Lake Nona Blvd, 32827 45,513 2020
6718 Lake Nona Boulevard, Ste. 100 6718 Lake Nona Boulevard, Ste. 100, 32827 41,051 2020
Truist Plaza 333 South Garland Avenue, 32801 449,676 2019
Liberty Corner 100 E Colonial Dr, 32801 137,540 2019

Worth noting among recent office completions on the Orlando market is Nona Medical Center at East Park Village, which is currently the largest new office development in the city, at 45,000 square feet.

Data provided by Commercial Edge

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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 Orlando 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.