Commercial Real Estate Market in Tallahassee, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
712 active listings and 7,122 off-market properties in Tallahassee, FL. Commercial property asks $153/SF to buy and $18.62/SF/Yr to lease.
Market Trends
Tallahassee, FL spans 572.7 square miles in Leon County, Florida. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Tallahassee, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Tallahassee, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Tallahassee, 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 vacancy in Tallahassee, FL runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 34%
- Planned_development 19.4%
- Civic 8.4%
- Open space 8.2%
- Agricultural 7.1%
- Industrial 6.6%
- Commercial 5.8%
- Special 0.1%
- Mixed use 0%
Largest Zones share of zoned land by district
Residential Preservation 1
Open Space
Rural
Residential Preservation 2
Southwood Planned Unit Development
Open Space (OS)
The OS district is intended to provide areas within the community for the resource conservation and passive or active recreational facility needs of the community
Market overview
Demographics & Economy
Tallahassee, FL has 292,198 residents in 135,921 households. Density runs 510 people per square mile. Median household income here is $70,519 and median gross rent $1,281 a month.
292,198
Population
135,921
Households
2.1
Avg Household Size
33
Median Age
47%
College-Educated
93%
High-School Grad
572.7 sq mi
ZIP Area
510
Density / Sq Mi
$70,519
Median Household Income
$38,533
Median Earnings
$1,281
Median Rent
$246,945
Median Home Value
Tools
Lease vs Buy Breakeven
At $18.62/SF/Yr lease vs $153/SF buy → buying wins if held > 1 years.
At a 12.2% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Centerville | — | — |
| Woodville | — | — |
| Midway | — | — |
| Lloyd | — | — |
Commercial property in Tallahassee, FL asks $153/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Tallahassee?
Commercial property in Tallahassee, FL asks an average of $153 per square foot. The 8 most recent recorded sales traded at a median of $385/SF.
How much does it cost to lease commercial space in Tallahassee?
Asking lease rates in Tallahassee, FL average $18.62 per square foot per year.
Is it cheaper to lease or buy commercial space in Tallahassee?
Buying beats leasing in Tallahassee, FL if the property is held longer than 1.0 years, comparing $18.62/SF/Yr asking rent with $153/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Tallahassee market data come from?
Realmo compiles Tallahassee, FL figures from 8 recent recorded sales, 547 active sale listings, 165 active lease listings, 7,122 tracked off-market properties, the current Tallahassee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 547 active for-sale and 165 active for-lease listings in Tallahassee, 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.
- 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.
- Zoning and land use
- The current municipal zoning release: 67,632 zoned acres across 159 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 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 and industrial vacancy is reported at South region level.
- 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 31 August 2026 · report a data issue
