2023 Office Space Rent & Sales
- $26.99 2023 Avg. Asking Rent
- 7.65% 2023 Office Vacancy Rate
Pensacola office price per square foot in 2023 was $26.99 on average. The local office market recorded an average vacancy rate of 7.65% 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
2023 Average Office Rent per Square Foot
- Florida Class A & A+ Office Space$36.87
- Florida Class B Office Space$27.52
- Florida Class C Office Space$32.32
Pensacola, FL Office Asking Rents by Class
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Coworking Spaces in Florida
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2023 Office Construction in Pensacola, FL
| Office building | Address | SF | Completed |
|---|---|---|---|
| Urban Core, Suite 201 | 125 E. Intendencia St, 32502 | 55,337 | 2017 |
| 1700 W Main St | 1700 W Main St, 32502 | 21,609 | 2017 |
| 890 S Palafox St Suite 106-108 | 890 South Palafox Street Suite 106-108, 32502 | 3,500 | 2003 |
| Quietwater Bldg 2, Suite 1 | 1101 Gulf Breeze Hwy, 32561 | 1,500 | 2002 |
| 1,680 SF Medical Office - 3936 N Davis Hwy | 3936 N Davis Hwy, 32503 | 7,256 | 2000 |
| Historic Office Building | 630 East Government St, 32502 | 5,000 | 1992 |
| Medical Office Investment Sale | 5111 N. 12th Ave., 32504 | 22,296 | 1991 |
| Legacy Plaza | 4301 Spanish Trail , 32504 | 8,551 | 1988 |
| Corporate Woods - 2114 Airport Blvd | 2114 Airport Blvd, 32504 | 45,230 | 1987 |
| 2810 E. Cervantes Street | 2810 E Cervantes St, 32503 | 4,020 | 1987 |
Worth noting among recent office completions on the Pensacola market is Urban Core, Suite 201, which is currently the largest new office development in the city, at 55,337 square feet.
See reports for other markets
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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 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 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 CommercialEdge can guarantee that the information provided is complete.