Asheville Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $22.49 2024 Avg. Asking Rent
  • 7.46% 2024 Office Vacancy Rate

Asheville office price per square foot in 2024 was $22.49 on average. The local office market recorded an average vacancy rate of 7.46% 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

  • North Carolina Class A & A+ Office Space$34.49
  • North Carolina Class B Office Space$26.63
  • North Carolina Class C Office Space$19.48

Asheville, NC Office Asking Rents by Class

2024 Office Vacancy Rates in Asheville

Submarket Asking Rents Vacancy Rates
Arden $26.45 8.87%
Downtown Asheville $26.06 7.67%
West Asheville $18.66 14.29%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Asheville market was 7.46% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Asheville was 7.67% in the Downtown Asheville submarket, while the highest office vacancy in the market was 14.29%, recorded in West Asheville.

Office Spaces for Rent in North Carolina

Coworking Spaces in North Carolina

2024 Office Construction in Asheville, NC

Largest Office Properties Recently Completed in Asheville
Office building Address SF Completed
76 Glendale Avenue 76 Glendale Avenue, Suites 103, 301, 28803 12,930 2022
208 Charlotte Highway 208 Charlotte Highway, 28803 1,123 2021
19 Rankin Avenue 19 Rankin Avenue, 28801 4,768 2014
1201 Bleachery Boulevard, Suite 201 1201 Bleachery Boulevard | Asheville, 28803 5,814 2009
307 Smokey Park Hwy 307 Smokey Park Hwy, 28806 3,941 2007
Forest Center North 900 Hendersonville Road, 28803 43,900 1999
1200 Ridgefield Boulevard 1200 Ridgefield Boulevard, 28806 60,000 1998
396 New Leicester Highway 396 New Leicester Highway, 28806 2,544 1998
9 Walden Ridge Dr, Suite 30 - Lab Space 9 Walden Ridge Dr, STE 30, 28803 33,647 1997
1998 Hendersonville Road 1998 Hendersonville Road, 28803 3,164 1989

Worth noting among recent office completions on the Asheville market is 76 Glendale Avenue, which is currently the largest new office development in the city, at 12,930 square feet.

Data provided by Yardi Research

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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 Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Asheville 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 Yardi Research Data can guarantee that the information provided is complete.