Space Coast, FL Retail Market Report Q2 2025

The Space Coast retail market continues to demonstrate steady activity and diversification in Q2 2025. Private investors remain the most active across the region, accounting for 75% of sales volume over the past year. Much of the new development is expected to concentrate on properties under 40,000 square feet, with demand favoring quick-service restaurants and pad sites. Beyond retail, the region is also attracting significant attention in the tech sector, highlighted by GenH2—a leader in liquid hydrogen infrastructure—breaking ground on a new $35 million headquarters campus in Titusville.

Space Coast Demographics

• Unemployment Rate: 3.9%
• Current Population: 665,047
• Households: 267,837
• Median Household Income: $83,504

Vacancy & Rent

After noting a slowdown in absorption throughout the past few years, retail demand rose in 2024 and has continued into this year. Freestanding buildings make up the majority of absorption, accounting for around 40% of retail demand in the past 12 months. At the end of Q2 2025, the metro recorded around 65,000 square feet absorbed. Meanwhile, rents have changed by 2.7% year-over-year, with a market asking rent of $19.74 per square foot at the end of Q2 2025. Submarkets in the metro record a NNN rent of $19.80 per square foot, compared to the metro level of $25.90 per square foot NNN.

Supply & Demand Dynamics

Source: CoStar Group, Inc.

Rent Activity

Source: CoStar Group, Inc.

Construction

The Space Coast experienced an inventory expansion of 570,000 square feet over the past five years. There is currently around 171,000 square feet underway, with the majority of developments for properties under 40,000 square feet. These tenants vary from QSR properties, pad sites, and new additions in neighborhood centers. Residents can look forward to new developments by Publix and Whole Foods Market. Both grocers are working on new properties in the metro, and the stores will be located in the Brevard County submarket.

Sales

Around 160 transactions occurred over the past year, with an average sale price of around $1.6 million. Freestanding locations accounted for the most activity with $174 million in transactions, followed by neighborhood centers at $37.6 million. Private buyers also made up the majority of deals, accounting for 75% of sales volume in the past year. In the second quarter, sales totaled $55.7 million. The largest deal this quarter occurred at the Shoppes of West Melbourne. The building sold as part of a 44-property portfolio that transacted for $313 million total, with the shopping center selling for $12 million.