The Orlando Commercial Real Estate Market

Key Takeaways

• Orlando’s growth is steady and supported by a mix of industries, with continued population gains and business expansion driving long-term demand.
• The job market is expanding beyond tourism, with new headquarters and a growing employer base reinforcing Orlando’s appeal for long-term investment.
• Industrial activity is still moving, though new supply is giving tenants more options and bringing the market back toward balance.
• Retail remains tight in many key corridors, with limited new development keeping availability low and supporting rent growth.
• The office market is showing more consistency, with activity centered in established areas and little new construction adding to supply.
• Orlando is one of the most active multifamily markets in the U.S., though recent deliveries have softened rents and pushed vacancy up as the market works through new supply.

Beyond its theme parks and steady tourism traffic, Orlando has become one of the Southeast’s most appealing markets for long-term CRE investment. The region continues to grow steadily - new residents are arriving every day, businesses are expanding their footprint, and development is thriving. 

In Orlando, growth doesn’t necessarily chase a single trend or industry. Instead, it comes from a mix of industries and steady demand. For investors, brokers, and operators, that means a market that feels active without being unpredictable.

Crexi supports that pace with a platform designed to keep deals moving. With more than $902 billion in closed transactions and over 114 million leads generated, Crexi gives brokers and investors the tools to stay competitive in fast-moving markets like Central Florida.

Across Orlando, Lake Buena Vista, Kissimmee, Winter Garden, Winter Park, Altamonte Springs, and greater Orange County, Crexi connects local opportunity with national reach.

Orlando Commercial Real Estate Market Overview

Orlando’s identity is still rooted in hospitality, but the city has grown into a more well-rounded economic center. Tourism plays a major role, but it now sits alongside a mix of industries that continue to bring new residents, employers, and long-term investment into the region. 

Population gains, ongoing business expansion, and a relatively accessible cost of living (especially compared to larger coastal markets) have helped Orlando maintain forward momentum. Educational institutions like University of Central Florida also support a consistent pipeline of talent, which has become an important part of the city’s long-term appeal.

From a commercial real estate perspective, the market reflects that same balance. Activity is consistent, development continues across the metro, and interest from both local and out-of-state investors remains strong. Changes in Orlando tend to play out gradually, giving investors and operators time to adjust rather than react to sudden shifts.

Orlando Regional Context

Growth in the Orlando region has been steady, and it’s coming from multiple directions. New residents continue to move in, drawn by job opportunities, lifestyle, and a cost of living that’s still more affordable than many larger metros. At the same time, businesses are choosing Orlando for equally practical reasons, including an available workforce and ample space to grow. 

Local and state policies also play a role. Florida’s tax structure, pro-business approach, and ongoing infrastructure investment have made it easier for companies to establish and expand their footprint here. That’s helped Orlando build a reputation as a place where growth is not only possible, but sustainable.

• More than 2.9 million people live in the Orlando-Kissimmee-Sanford metro area, with nearly 335,000 residents within Orlando city limits.
• Orlando was named among the fastest-growing large regions in the US, with a 1.3% growth rate in 2025. In 2025, Orlando gained nearly three times as many new residents as the city of Tampa.
• The median age in Orlando is 35.1 years, which is about 10% younger than the US figure (and 20% younger than Florida overall). 
• Major cities in the region include Orlando, Kissimmee, Sanford, and Daytona Beach.
• Per capita income in Orlando is $44,884, while the median household income is $77,597.
• About 39% of metro area residents earn $100,000 or more annually.
• The cost of living in Orlando is about 9% lower than the national average, with housing costs proving to be particularly affordable (22% lower than the US average).
• In addition to earning numerous accolades as a popular travel destination, Orlando has also been named a top spot for starting a business, operating a tech hub, and more.

Orlando Job Market

Orlando’s job market looks different than it did even a few years ago. Tourism is still a major driver, but more industries and employers are now part of the mix, helping support steady growth. Recent moves, like Travel + Leisure Co. opening its new global headquarters downtown, show companies are investing in Orlando for the long haul. 

The region also has a steady flow of new graduates and a workforce that continues to grow with the population. That makes it easier for companies to hire locally and keep expanding. For CRE professionals, it is a sign that demand is being driven by jobs, not just population growth. 

• Total GDP for Orlando-Kissimmee-Sanford MSA is over $233 billion, increasing by more than 24% within a five year span.
• Orlando's unemployment rate is 4.7% as of May 2026, with job growth concentrated in the sectors of leisure and hospitality, information, and education and health services.
• Orlando was ranked as the nation’s sixth-best city for jobs in 2026, taking the lead among all Florida cities.
• For the fourth year in a row, Orlando’s economic growth outpaced that of the US overall. The regional economy is now larger than that of 18 entire U.S. states, expanding by 3.5% in 2024.
• Key employment sectors include semiconductors, headquarters and regional offices, optics and photonics, advanced manufacturing, aerospace and defense, and entertainment technology.
• A significant number of businesses have corporate headquarters and/or regional offices in the Orlando MSA, including Walt Disney Parks & Resorts, AdventHealth, AAA, Universal Orlando, Orlando Health, Lockheed Martin, and HIlton Grand Vacations. 
• Major educational institutions in the region include the University of Central Florida (UCF), Valencia College, and Rollins College.
• About 42.5% of residents hold a Bachelor’s degree or higher, a rate that is 20% higher than the US overall.
• There are 9 international airports within 100 miles of Orlando, as well as multiple deepwater ports.
• Orlando’s extensive transportation infrastructure includes major highways such as I-4 and the 408, the SunRail commuter rail system, the LYNX bus service, the free LYMMO bus rapid transit circulator in downtown, and the Orlando International Airport (MCO).

Orlando Industrial Market

Market overview (Cushman & Wakefield Q1 2026) 

• Inventory: 128,452,199 SF
• Vacancy rate: 8.1%
• Absorption: 187,174 SF (YTD)
• Leasing activity: 696,094 SF (YTD)
• Key leases by tenant: Amazon (223,732 SF), Iberia Foods (159,000 SF), Kenpat Drywall & Insulation (58,107 SF)
• Under construction: 3,106,850 SF 
• Largest submarkets: Airport/Lake Nona, Silver Star/Apopka, Orlando Central Park

Crexi Insights

These are the most recent industrial lease and sales trends from Crexi Insights (as of May 2026):

For Lease (active)

• Asking rate/SqFt (median): $22 per year
• Median SqFt/listing: 3,567
• Days on market: 266
• Total listings on Crexi: 374 spaces

For Sale (active)

• Median asking price: $2.5 million
• Price/SqFt: $201
• Asking cap rate: 4.8%
• Days on market: 211
• Total listings on Crexi: 58

Sales Comps (past 12 months)

• Median sold price: $2.9 million
• Sold price/SqFt: $194
• Total sales volume: $809.7 million
• Sold cap rate: 8.4%
• Median SqFt sold/transaction: 16,200
• Total SqFt sold: 4 million 
• Days on market (median): 196

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Orlando Office Market

The Orlando office market is starting to show more consistency after a stretch of uneven performance. Leasing activity is still active, and recent quarters have pointed to a gradual return of occupancy in parts of the market.

It’s worth noting specifically where that activity is happening. Central locations and established submarkets are carrying more of the momentum, while overall supply remains steady with little new construction coming online. The focus is shifting toward how existing space is positioned and leased in a market that’s moving, but at a more deliberate pace.

Market overview (Cushman & Wakefield Q1 2026)

• Inventory: 36,390,356 SF
• Vacancy rate: 16.5%
• Net absorption: 131,239 SF (YTD)
• Key leases by tenant: Abacus Settlements (58,100 SF), GSA (32,584 SF), Mitsubishi Electric Power Products (30,342 SF)
• Under construction: 0 SF
• Largest submarkets: Tourist Corridor, Maitland, Lake Mary/Heathrow

Crexi Insights

Crexi Insights offers the latest information on the Orlando office market, including current leasing trends, property listings, and comparable sales data.

Here is the detailed market data as of May 2026.

For Lease (active)

• Asking rate/SqFt (median): $27 per year
• Median SqFt/listing: 1,719 SF
• Days on market: 365
• Total listings on Crexi: 758 spaces

For Sale (active)

• Median asking price: $1.1 million
• Price/SqFt: $344 
• Asking cap rate: 6%
• Days on market: 113
• Total listings on Crexi: 118

Sales Comps (past 12 months)

• Median sold price: $926,300
• Sold price/SqFt: $299
• Total sales volume: $67.2 million
• Median SqFt sold/transaction: 2,840 SF
• Days on market (median): 215

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Orlando Retail Market

Retail in Orlando is shaped by a steady mix of local spending and year-round tourism. Even with some recent slowdown in leasing, space remains limited in many of the area’s busiest corridors. Right now, one of the key factors is the lack of new supply. Development hasn’t kept pace with past demand, especially in well-trafficked areas where space is already built out. As a result, retailers are looking a bit farther out for opportunities, targeting growing pockets of the metro where both resident and visitor traffic are increasing. 

Market overview (Cushman & Wakefield Q1 2026)

• Inventory: 158,178,870 SF
• Vacancy rate: 3.9%
• Net absorption: -154,665 SF (YTD)
• YoY rent growth: 5.1%
• Key leases by tenant: Crunch Fitness (35,000 SF), Total Wine & More (23,400 SF), PriceMark (21,700 SF)
• Under construction: 1,170,842 SF
• Largest submarkets: Lake County, Tourist Corridor, West Colonial

Crexi Insights

Retail lease and sales trends from Crexi Insights (as of May 2026):

For Lease (active)

• Asking rate/SqFt (median): $25 per year
• Median SqFt/listing: 2,481 SF
• Days on market: 212
• Total listings on Crexi: 433 spaces

For Sale (active)

• Median asking price: $2.8 million
• Price/SqFt: $425
• Asking cap rate: 6%
• Days on market: 181
• Total listings on Crexi: 147

Sales Comps (past 12 months)

• Median sold price: $1.5 million
• Sold price/SqFt: $290
• Total sales volume: $144.7 million
• Sold cap rate: 4.2%
• Median SqFt sold/transaction: 5,058 SF
• Days on market (median): 231

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Orlando Multifamily Market

Orlando has been one of the country’s more active multifamily markets in recent years, though the pace of new development has started to ease. Even with fewer projects breaking ground, a large number of recently completed units are still working their way through lease-up.

That added supply has taken some pressure off the market. Vacancy has moved up slightly, and rent growth has softened, giving properties more time to stabilize. Even so, demand remains steady, supported by continued population growth and a steady flow of new residents moving into the area.

Market overview (Cushman & Wakefield Q1 2026)

• Multi-unit inventory: 232,171 units
• Vacancy rate: 8%
• Average rent per unit: $1,804
• YoY rent growth: -2.3%
• Units under construction: 11,007 
• Units delivered: 9,903 (YTD)
• Recent transactions: Lake Betty Apartments (336 units; $64.6 million), Aria at Millenia (270 units; $46.8 million), Crestwood (216 units; $34.3 million)

Crexi Insights

Here are the most recent multifamily insights from Crexi (as of May 2026):

For Sale (active)

• Median asking price: $1.8 million
• Price/SqFt: $201
• Price/Unit: $116,600
• Asking cap rate: 6.7%
• Days on market: 90
• Total listings on Crexi: 15

Sales Comps (past 12 months)

• Median sold price: $370,900
• Sold price/SqFt: $226
• Sold price/unit: $176,300
• Total sales volume: $1 billion
• Total SqFt sold: 5.4 million
• Days on market (median): 112

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Get more in-depth Orlando market data with Crexi Intelligence.