Orlando, FL Retail Market Report Q3 2026

Demand Trails New Supply and Vacancy Edges Up to 3.8%

Demand

Orlando absorbed 107K SF in Q3 2026, against 679K SF in the same quarter last year. Vacancy is 3.8%, 14 bps looser than Q3 2025. W Seminole Outlying is the tightest submarket at 0.6% vacancy; NW Orange Outlying leads rent growth at +3.8%. Trailing-12-month absorption of 550K SF is down from 961K SF a year earlier. Asking rent of $31.17/SF is up 2.5% year over year and within 1% of the Q2 2026 peak of $31.18/SF.

Supply

Orlando delivered 110K SF in Q3 and 1.03M SF over the trailing twelve months (-10% versus the prior TTM period). Space under construction equals 0.5% of inventory, concentrated in Downtown Orlando at 8.0% of its stock. Annual deliveries peaked at 5.83M SF in 2007. Q3 deliveries were less than half of last year’s 349K SF. The 840K SF pipeline equals about six quarters of absorption at the trailing pace.

Investment Market

Orlando recorded $1.9B in sales over the trailing twelve months, +29% against the prior TTM period; Q3 accounted for $473M. The high-water mark in this series is $1.8B in 2022.

Orlando cap rates average 6.68%, down for 4 straight quarters. Pricing sits at $303/SF, higher for 16 consecutive years. The cap rate is 63 bps below the Q1 2015 high of 7.31%.