Commercial Real Estate Market in Palm Bay, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,097 active listings and 1,888 off-market properties in Palm Bay, FL.
Market Trends
Palm Bay, FL spans 104.3 square miles in Brevard County, Florida. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Palm Bay, FL asks $316/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Palm Bay, FL asks $316/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Palm Bay, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Palm Bay, FL asks $255/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Market overview
Demographics & Economy
Palm Bay, FL has 121,705 residents in 49,814 households. Density runs 1,167 people per square mile. Median household income here is $69,436 and median gross rent $1,579 a month.
121,705
Population
49,814
Households
2.4
Avg Household Size
42
Median Age
23%
College-Educated
91%
High-School Grad
104.3 sq mi
ZIP Area
1,167
Density / Sq Mi
$69,436
Median Household Income
$35,813
Median Earnings
$1,579
Median Rent
$247,253
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Melbourne | $278 (county avg) | $19.14 |
| West Melbourne | $278 (county avg) | $12.03 |
| Malabar | $278 (county avg) | $21.07 |
| Melbourne Beach | $278 (county avg) | $2.60 |
Commercial property in Palm Bay, FL asks $278/SF. The 4 bordering markets run from $278/SF in Melbourne to $278/SF in Melbourne, and the city sits in line with their $278/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Palm Bay?
Commercial property in Palm Bay, FL asks an average of $278 per square foot. The 6 most recent recorded sales traded at a median of $125/SF, so asking sits 123% above the achieved median. Office carries the highest asking price at $316/SF.
How does Palm Bay compare to nearby markets on price?
Palm Bay, FL asks $278/SF against $278/SF in Melbourne, $278/SF in West Melbourne, $278/SF in Malabar and $278/SF in Melbourne Beach.
Where does Realmo's Palm Bay market data come from?
Realmo compiles Palm Bay, FL figures from 7 recent recorded sales, 1,051 active sale listings, 46 active lease listings, 1,888 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1,051 active for-sale and 46 active for-lease listings in Palm Bay, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
