2024 Office Space Rent & Sales
- $22.27 2024 Avg. Asking Rent
- 17.13% 2024 Office Vacancy Rate
Monterey office price per square foot in 2024 was $22.27 on average. The local office market recorded an average vacancy rate of 17.13% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- California Class A & A+ Office Space$60.31
- California Class B Office Space$38.42
- California Class C Office Space$26.20
Monterey, CA Office Asking Rents by Class
Office Spaces for Rent in California
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 665 Munras Avenue | 665 Munras Avenue, 93940 | 27,000 | 2001 |
| 12 Upper Ragsdale Drive & 21 Lower Ragsdale Drive | 12 Upper Ragsdale Drive, 93940 | 40,236 | 1994 |
| 20 Ryan Ranch Road | 20 Ryan Ranch Road, 93940 | 215,000 | 1990 |
| Monterey Commerce Center | 1 Lower Ragsdale Dr, Bldg 1, 93940 | 51,144 | 1990 |
| 409 Washington Street | 409 Washington St, 93940 | 13,595 | 1989 |
| 791 Foam St | 791 Foam St, 93940 | 4,708 | 1986 |
| Garden Road Professional Center | 2511 Garden Road, 93940 | 174,890 | 1985 |
| 910 Major Sherman Ln | 910 Major Sherman Ln, 93940 | 5,896 | 1985 |
| 2959 Monterey-Salinas Hwy | 2959 Monterey-Salinas Hwy, 93940 | 75,531 | 1982 |
| 451 Washington St | 451 Washington St, 93940 | 2,200 | 1961 |
Worth noting among recent office completions on the Monterey market is 665 Munras Avenue, which is currently the largest new office development in the city, at 27,000 square feet.
See reports for other markets
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- Beverly Hills Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Monterey commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.