How much does commercial real estate cost in Melbourne, Florida?

Costs vary by property type. Office space leases for $14 to $28 per square foot per year. Retail space runs $14 to $30 per square foot NNN. Industrial and warehouse space leases for $8 to $16 per square foot NNN. Commercial land ranges from $3 to $40 per square foot depending on zoning and entitlement status.

Do I need a commercial broker in Brevard County?

You are not legally required to use a broker, but tenant representation is free to you. The landlord pays the commission whether you have representation or not. A commercial broker provides market data, off-market access, and negotiates terms that most tenants would not know to request.

What is a NNN lease in commercial real estate?

A NNN (triple net) lease requires you to pay base rent plus three additional expenses: property taxes, building insurance, and common area maintenance (CAM). This is the standard lease structure for retail and industrial properties in Brevard County. NNN charges typically add $3 to $10 per square foot.

What is a 1031 exchange in Florida?

A 1031 exchange lets you defer capital gains taxes by selling one investment property and purchasing another like-kind property. You have 45 days to identify replacement properties and 180 days to complete the purchase. Florida has no state income tax, making 1031 exchanges here particularly advantageous.

What areas does Reach Commercial Real Estate serve?

Reach Commercial serves all of Brevard County including Melbourne, West Melbourne, Palm Bay, Viera, Suntree, Rockledge, Cocoa, Titusville, Merritt Island, Cocoa Beach, Cape Canaveral, and surrounding communities on Florida's Space Coast.

Chick-fil-A, Zaxby's, Jersey Mike's Target New Titusville Retail Plaza

Cassandra Hartford
Jun 23
4 min read

Three national quick-service restaurant chains are planning locations in a new Titusville retail plaza. According to the Orlando Business Journal, Chick-fil-A, Zaxby's, and Jersey Mike's have targeted the northern Brevard County development, signaling renewed retail pad demand in a submarket that has historically played second fiddle to Melbourne and Palm Bay.

The project reflects a pattern we have tracked for the past 18 months. North Brevard is no longer just the gateway to Kennedy Space Center. It is becoming a destination for national tenants who see what the population and employment data already show.

What We Know About the Titusville Retail Plaza

Per the Orlando Business Journal reporting, the development will feature pad sites for the three named tenants plus additional retail and restaurant space. The exact acreage, parcel ID, and total square footage were not disclosed in the source material. The specific location within Titusville was also not named in the article.

What we do know is the tenant mix. Chick-fil-A operates drive-thru-heavy prototypes typically requiring 4,500 to 5,000 square feet with 60 to 70 parking spaces. Zaxby's runs similar footprints. Jersey Mike's is smaller, usually 1,400 to 1,800 square feet in an inline or endcap position. These three tenants alone suggest a multi-pad development with significant traffic generation.

National QSR chains do not sign letters of intent in secondary markets on a whim. They run demographic models, traffic counts, and daytime population analyses before committing. The fact that all three are targeting the same Titusville development tells you their models are showing the same thing: demand is there.

Why Titusville Retail Demand Is Spiking

The aerospace sector is the obvious driver. SpaceX, Blue Origin, and their supply chain vendors have added thousands of jobs to North Brevard over the past five years. Kennedy Space Center and Cape Canaveral Space Force Station continue expanding launch operations. As we covered in our post on SpaceX Starship Launch Pad Approved at Cape Canaveral Space Force Station, the infrastructure investment in this corridor is not slowing down.

Population growth follows employment. Titusville's residential development pipeline has grown substantially, with new subdivisions and multifamily projects adding rooftops that need services. The recent Titusville Aerospace Zoning Amendment expanding PID districts was designed specifically to capture this commercial momentum.

Here is the math that matters for retail landlords. More jobs mean more daytime population. More daytime population means more lunch traffic. More lunch traffic means QSR chains can hit their unit economics. When Chick-fil-A sees those numbers, they move.

RCRE Take

In deals I have worked in North Brevard, the conversation has shifted over the past two years. Tenants used to ask whether Titusville had enough traffic. Now they ask whether there is any available pad inventory left. The answer increasingly is no, or not at the price they want.

This development will likely command premium rents for the submarket. NNN deals for national credit tenants like Chick-fil-A trade at cap rates in the 4.5% to 5.5% range in Florida markets. That is investor-grade product the moment it is leased. For developers who can deliver pad-ready sites with the right ingress, egress, and visibility, the buyer pool is deep.

The implication for existing Titusville retail landlords is straightforward. If you own inline space near this development, your asking rents just got stronger support. If you own competing QSR pads elsewhere in North Brevard, watch your lease expiration dates carefully. National chains consolidate when they can get better real estate.

North Brevard Retail Submarket Context

Titusville's retail inventory has historically been concentrated along South Washington Avenue and the US-1 corridor. The city has seen limited new retail construction compared to the Melbourne and Viera submarkets, which makes this multi-tenant development notable. For investors tracking North Brevard opportunities, our commercial investments page includes current listings across Brevard County.

The broader Brevard retail picture is mixed. As we detailed in our Q2 2026 market report, industrial vacancy remains historically tight while other sectors show more variability. Retail in growing corridors like North Brevard is performing differently than older suburban strip centers elsewhere in the county.

If you are evaluating retail investment or development opportunities in Titusville or anywhere in Brevard County, contact us before you commit. Submarket dynamics vary block by block, and tenant quality matters more than gross square footage. Call 321-514-0876 or reach out through our contact page.

Frequently Asked Questions

What national restaurant chains are coming to Titusville?

Chick-fil-A, Zaxby's, and Jersey Mike's have targeted a new retail plaza in Titusville according to Orlando Business Journal reporting. Additional tenants may be announced as the development progresses.

Why are QSR chains expanding in North Brevard County?

Aerospace employment growth from SpaceX, Blue Origin, and Kennedy Space Center has increased daytime population significantly. National chains run demographic models before committing, and North Brevard now meets their traffic and income thresholds.

What cap rates do Chick-fil-A NNN properties trade at in Florida?

National credit QSR tenants like Chick-fil-A typically trade at cap rates between 4.5% and 5.5% in Florida markets. These are considered investor-grade assets due to the tenant credit quality and long-term lease structures.

How large is a typical Chick-fil-A restaurant footprint?

Chick-fil-A's drive-thru-heavy prototypes typically require 4,500 to 5,000 square feet of building area plus 60 to 70 parking spaces. Pad sites generally need at least one acre to accommodate the building, drive-thru lanes, and parking.

Is Titusville retail vacancy low compared to other Brevard submarkets?

Titusville has seen limited new retail construction compared to Melbourne and Viera, which constrains available inventory. The arrival of multiple national tenants in a single development indicates demand is outpacing current supply in North Brevard.