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.

Melbourne Orlando Airport Growth Drives Commercial Real Estate Demand

Cassandra Hartford
Jun 23
4 min read

Melbourne Orlando International Airport is riding a decade of record growth, per News 13, and the expansion is reshaping commercial real estate demand across the Melbourne submarket. The airport's trajectory is not just a feel-good story about passenger counts. It is a driver of industrial, retail, and hospitality absorption that buyers and investors need to understand.

When an airport expands, the surrounding commercial corridors follow. More passengers mean more rental car facilities, more hotels, more restaurants, and more warehouse space for logistics operators serving the terminal. In our experience with Brevard industrial buyers, airport-adjacent properties command a premium because they solve last-mile problems for cargo and reduce commute times for airport-dependent tenants.

Melbourne Airport Growth by the Numbers

According to News 13, Melbourne Orlando International Airport has experienced sustained growth over the past decade. The airport has positioned itself as a regional alternative to Orlando International, capturing passengers who prefer shorter security lines and easier parking. This growth benefits local businesses directly, creating a ripple effect through the Melbourne commercial real estate market.

The expansion plans mentioned in the News 13 report signal continued capital investment in airport infrastructure. For commercial real estate, infrastructure investment is a leading indicator. Airports do not expand unless demand projections justify the spend. When the projections are strong enough to approve expansion, nearby landlords and developers take notice.

What Melbourne Airport Expansion Means for CRE

Airport growth affects three property types most directly: industrial, hospitality, and retail. Industrial demand comes from logistics operators, rental car companies needing maintenance facilities, and cargo handlers. Hospitality demand comes from passengers who need overnight stays before early departures or after late arrivals. Retail demand comes from the service workers and travelers who support airport operations.

The Melbourne submarket already has tight industrial vacancy. Our Q2 2026 market report showed Brevard County industrial vacancy at 3.7 percent. Airport expansion will put additional pressure on the limited supply of warehouse and flex space within a 10-minute drive of the terminal. Buyers looking for industrial investments near MLB should expect competition.

Hospitality investors should also pay attention. Airport hotels benefit from guaranteed demand that is less sensitive to local economic cycles. Business travelers and tourists passing through MLB need rooms regardless of what the broader Brevard hospitality market is doing. Limited-service hotels and extended-stay properties near the airport corridor tend to outperform during downturns.

RCRE Take

Melbourne Orlando International Airport is a growth engine that does not get enough attention from commercial real estate investors focused on the Space Coast. Most of the conversation in Brevard centers on aerospace and defense contractors. Fair enough. But MLB is a demand driver that operates independently of launch cadence or contractor hiring cycles.

In deals I have worked in Brevard, properties near MLB command interest from national logistics operators and regional hospitality REITs who understand the value of airport adjacency. The Melbourne submarket benefits from something most secondary airports cannot offer: proximity to both a growing population center and a tourism corridor. Passengers flying into MLB are often headed to the beaches, the cruise ports, or the theme parks. That traffic supports retail and hospitality on both ends of the trip.

If you are holding industrial or hospitality assets within five miles of MLB, your exit multiple is likely higher than you think. If you are buying, expect sellers to price in the airport growth story. The smart money moved on airport-adjacent parcels three years ago. But there is still opportunity for investors who understand the submarket.

Melbourne Submarket Context

Melbourne's commercial corridors along US 192 and Babcock Street have absorbed significant retail and industrial development over the past five years. The airport expansion adds another demand driver to a submarket that was already tight. For buyers seeking airport-proximate properties, review current listings at spacecoastcre.com/commercial-investments. For sellers curious about what your property is worth in this environment, our valuation services can help you understand current pricing.

If you are buying, selling, or leasing commercial property near Melbourne Orlando International Airport, call 321-514-0876 before you sign anything. Or reach out through our contact page.

Frequently Asked Questions

How does Melbourne Orlando International Airport growth affect commercial real estate values?

Airport expansion drives demand for industrial, hospitality, and retail properties within a 10-minute drive of the terminal. Properties near MLB typically command higher price-per-square-foot premiums because logistics operators and hospitality investors value airport adjacency.

What is the current industrial vacancy rate in Brevard County?

Brevard County industrial vacancy stood at 3.7 percent in Q2 2026. Airport expansion will add pressure to an already tight market, particularly for warehouse and flex space near the Melbourne submarket.

Which property types benefit most from airport expansion?

Industrial, hospitality, and retail properties benefit most directly. Industrial demand comes from logistics and cargo operators. Hospitality demand comes from overnight travelers. Retail demand comes from airport employees and passengers needing services.

Is Melbourne Orlando International Airport a good location for hotel investment?

Airport hotels benefit from demand that is less sensitive to local economic cycles. Limited-service and extended-stay properties near MLB tend to maintain occupancy even during downturns because business and leisure travelers need rooms regardless of broader market conditions.

What commercial corridors near Melbourne airport are most active?

US 192 and Babcock Street are the primary commercial corridors serving the Melbourne airport area. Both have absorbed significant retail and industrial development and remain active for buyers seeking airport-proximate locations.

Melbourne Orlando International Airport terminal building with aircraft at gates and runway visible

Sources

News 13: Original reporting on Melbourne Orlando International Airport growth and expansion plans
RCRE Q2 2026 Market Report: Brevard County industrial vacancy data