Lexington Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Lexington is $19.71 per square foot, 27.57% higher compared to the previous year.
  • The average sale price for office space in Lexington is $96.50 per square foot, marking an increase of 6.25% compared to 2024.
  • The market’s vacancy rate stands at 8.98%, lower than the state average of Kentucky, which is 17.37%.
  • Renting Class A/A+ office space here costs $21.94 per square foot, while Class B averages $19.34 and Class C stands at $15.31.

2025 Office Space Rent & Sales

  • $19.71 2025 Avg. Asking Rent
  • 27.57% Y-o-Y Avg. Asking Rent Change
  • 8.98% 2025 Office Vacancy Rate
  • $25.9M2025 Total Office Sales
  • $96.50Avg. Sale Price/SF

What is the average asking rent price for office space in Lexington?

Average asking rents for office space here stand at $19.71 per square foot. The local office market recorded an average vacancy rate of 8.98% in 2025, unchanged from 8.98% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $25.9M across 5 sales. These transactions commanded an average sale price per square foot of $96.50.

Lexington, KY Office Asking Rents by Class

What is the average office rent per square foot by property class in Lexington?

  • Avg. Asking Rent Class A & A+$21.94
  • Avg. Asking Rent Class B$19.34
  • Avg. Asking Rent Class C$15.31

The average asking rent for Class A and A+ office space stood at $21.94 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in Lexington averaged $19.34 per square foot, while the average for Class C space was $15.31 per square foot.

What is the average office rent per square foot by property class in KY?

  • Avg. Asking Rent Class A & A+$20.35
  • Avg. Asking Rent Class B$19.80
  • Avg. Asking Rent Class C$15.31

For comparison, the average rent for Class A and A+ office space in Kentucky was $20.35 per square foot. The state-wide average for Class B space was $19.80 per square foot, and Class C office spaces averaged $15.31 per square foot.

Lexington, KY Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Lexington was Lexington - North Central at 3.37%. Meanwhile, the highest office vacancy rate in the market was 12.41%, recorded in Lexington - East Central.
Submarket Asking Rents Vacancy Rates
Lexington - West Central $20.65 6.33%
Lexington CBD $20.23 8.79%
Lexington - Southwest $19.12 6.51%
Lexington - East Central $18.66 12.41%
Lexington - North Central $18.05 3.37%
Data provided by Yardi Research

Explore Top Office Markets in Kentucky

2025 Office Sales Volume

  • $96.502025 Avg. Price per SF
  • 6.25%Y-o-Y Avg. PpSF Change
  • $25.9M2025 Office Sales Volume
  • 52025 Number of Transactions

What is the average sale price per square foot for office space in Lexington?

Average sale prices for office space in this market recorded a +6.25% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $96.50 per square foot. For comparison, the statewide Kentucky average during the same time period stood at $124.46 per square foot, while the national average was $182.48 per square foot.

Lexington, KY Sale Price per SF Trend

  • Lexington Avg. Sale Price per SF in 2025$96.50
  • Kentucky Avg. Sale Price per SF in 2025$124.46

What was the total office sales volume in Lexington in 2025?

The local office market recorded 5 deals in 2025, adding up to a yearly sales volume of $25.9M.

  • Lexington, KY Total Office Sales Volume in 2025 $25.9M
  • Lexington, KY Total Number of Office Sales Closed in 2025 5
Data provided by Yardi Research

Office Construction in Lexington, KY

What are the largest recent office completions in Lexington?

The largest recent office completion here is Monarch Plaza Office Park at 206,240 square feet, completed in 2004. The next largest completions are Class "A" Office | ±172,215 SF | 100% Occupied and Summit Square Office Park.

Office building Address SF Completed
Coldstream Research Campus 824 Bull Lea Run, 40511 45,954 2022
3090 Harrodsburg Rd 3090 Harrodsburg Rd, 40503 8,848 2019
395 Elaine Drive 395 Elaine Drive, 40504 7,060 2010
Class "A" Office | ±172,215 SF | 100% Occupied 1648 McGrathiana Pkwy, 40511 172,215 2009
Hamburg Business Center - 2720 Old Rosebud Road 2720 Old Rosebud Road, 40509 30,000 2007
US Attorneys Building 260 West Vine Street, 40507 54,140 2005
Hamburg Business Center II 2704 Old Rosebud Road, 40509 30,000 2005
Monarch Plaza Office Park 1030 Monarch Street, 40513 206,240 2004
Summit Square Office Park 3201 Summit Square Place, 40509 79,641 2004
424 Lewis Hargett Circle 424 Lewis Hargett Cir, 40503 44,000 2004
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

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 Yardi Research Data can guarantee that the information provided is complete.