The Florida CRE
Cap Rate Index
Corridor-level capitalization rate intelligence across 14 Central Florida submarkets and 5 asset classes. Sourced from verified transaction data and proprietary submarket intelligence.
Index Summary
The Florida CRE Cap Rate Index is a market-level intelligence tool. It captures composite capitalization rate environments across primary Central Florida investment corridors.
Submarket Heat Grid
14 Corridors · Q1 2026 · Verified Data
Downtown / SoDo
Urban Infill
Osceola / US-192
Live Local / Adaptive
Lake Nona
Medical Office
West Orange
Apopka / NW Industrial
Sand Lake / Dr. Phillips
SR-528 / Airport
I-Drive / Tourist
I-4 Industrial
Small-Bay Industrial
Multifamily
Cap Rate Movement
By Asset Class — Central Florida
What Moved This Quarter
Industrial compression deepened As small-bay vacancy hit 2.8% metro-wide with zero speculative pipeline. The I-4 Corridor and SR-528 Airport submarket both registered 20+ bps of quarterly compression.
Source: CoStar Q1 2026 · Small-Bay pageOffice cap rates continued their upward drift With the Downtown Core / SoDo corridor reaching 7.84%, now 42 bps above Q1 2024 levels. However, creative office is absorbing at accelerating rates.
Source: Urban Infill page · CoStar Q1 2026Medical office drew institutional bids Following the Lake Nona VA Hospital campus expansion. Cap rates compressed to 6.75% on limited product availability.
Source: Lake Nona page · Orange County PATourism-adjacent retail held firm At sub-4% vacancy along both the I-Drive and Sand Lake corridors. Experiential F&B tenants continue to command premium rents above $48/SF NNN.
Source: Retail page · FDOT traffic dataForward Indicators
Industrial supply remains constrained through 2026. The absence of meaningful spec pipeline in the I-4 Corridor suggest continued rent growth pressure and further cap rate compression.
Based on current pipeline dataOffice bifurcation will likely accelerate. Expect Class A creative office in the urban core to continue tightening while commodity suburban office sees continued vacancy elevation.
Based on Live Local Act page analysisThe Osceola / US-192 yield spread is at a cyclical peak. At 78 bps above the metro mean, this corridor offers the most compelling risk-adjusted entry point for investors.
Based on Osceola page · Census dataWatch Lake Nona for institutional cap rate compression. As healthcare and life sciences capital continues to enter the corridor, pricing is likely to reflect institutional cost-of-capital.
Based on current pipeline and absorption dataOrlando in the Florida Landscape
Benchmarking Q1 2026 cap rate composites across Florida's primary investment metros.
Why Orlando Outperforms
Orlando's composite 6.47% cap rate reflects a market that still prices at a meaningful premium to South Florida's compressed coastal metros while delivering superior absorption velocity.
The Miami Premium
Miami's 5.84% composite reflects institutional cost-of-capital pricing driven by international capital flows and constrained geography that limits competitive supply.
Where Capital Is Moving
South Florida continue to see compression, but velocity has moderated. Orlando occupies the strategic middle — priced attractively enough for yield, growing fast enough for appreciation.
Strategy Directives
I-4 Industrial Hub
Constrained supply with logistics-driven demand expansion. Spec pipeline limited relative to absorption velocity.
Lake Nona / Medical City
Institutional capital following healthcare cluster growth. Lake Nona pricing increasingly decoupling from local comps.
Osceola / US-192
Osceola yield spreads at cyclical peak. Population growth backing value-add retail and hospitality repositioning.
Downtown / SoDo
Live Local Act conversions removing commodity office inventory, tightening effectively supply for creative urban product.
Proprietary
Intelligence Basis
Verified Sources
The List Orlando does not manufacture cap rate data. Every metric is sourced from a verifiable public or professional data source and cross-referenced against independent inputs.