Omaha Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $20.63 2024 Avg. Asking Rent
  • 11.57% 2024 Office Vacancy Rate
  • $182.5M2024 Total Office Sales
  • $250.35Avg. Sale Price/SF

Omaha office price per square foot in 2024 was $20.63 on average. The local office market recorded an average vacancy rate of 11.57% across all asset classes combined. The 6 transactions that closed here throughout 2024 amounted to a total sale volume of $182.5M. Omaha office space commanded an average sale price per square foot of $250.35.

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

  • Omaha Class A & A+ Office Space$24.07
  • Omaha Class B Office Space$19.24
  • Omaha Class C Office Space$10.33
  • Nebraska Class A & A+ Office Space$24.32
  • Nebraska Class B Office Space$17.78
  • Nebraska Class C Office Space$10.75

Omaha, NE Office Asking Rents by Class

Average office rent in Omaha rested at $20.63 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Omaha averaged $24.07 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.24 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $10.33 per square foot, on average. Comparably, statewide Nebraska average office rents by class in 2024 were: $24.32 per square foot for class A office space; $17.78 per square foot for class B office space; $10.75 per square foot for class C office space.

2024 Office Vacancy Rates in Omaha

Submarket Asking Rents Vacancy Rates
Downtown $26.03 5.33%
West Dodge Corridor $22.35 14.00%
South Central $20.35 7.44%
Southwest $19.15 5.20%
Northwest $14.71 37.36%
Southeast $13.01 19.20%
Northeast $12.50 6.02%
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 Omaha market was 11.57% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Omaha was 5.20% in the Southwest submarket, while the highest office vacancy in the market was 37.36%, recorded in Northwest.

Omaha Office Sale Price per SF

  • $250.352024 Avg. Price per SF
  • $182.5M2024 Office Sales Volume
  • 62024 Number of Transactions

Omaha, NE Sale Price per SF Trend

  • Omaha Avg. Sale Price per SF in 2024$250.35
  • Nebraska Avg. Sale Price per SF in 2024$241.46
The sale price for office space in Omaha averaged $250.35 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Nebraska average office sale price during the same time period was $241.46 per square foot.

2024 Office Sales Volume

  • Omaha, NE Total Office Sales Volume in 2024 $182.5M
  • Omaha, NE Total Number of Office Sales Closed in 2024 6
A total of 6 deals closed on the Omaha office market in 2024, adding up to a yearly sales volume of $182.5M. Notably, the largest transaction on the market saw Gallup Riverfront Campus change hands for $130,000,000 on 3/29/2024.
Data provided by Yardi Research

Coworking Spaces in Nebraska

2024 Office Construction in Omaha, NE

  • Omaha, NE Total SF completed in 2024 235,653
  • Omaha, NE Total SF under construction in 2025 438,000

During 2024, 235,653 square feet of new office space were delivered across the market. At the close of 2024, the Omaha office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 235,653 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 438,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Omaha
Office building Address SF Completed
EDGE District - Core Building 4402 Innovation Plaza, 68106 180,870 2026
The Row at Heartwood - 14500 Heartwood Row 14500 Heartwood Roa, 68010 117,672 2026
1113 Nicholas Street 1113 Nicholas Street, 68102 24,480 2026
BUILD TO SUIT - LAND LEASE 11912 Elm St, 68144 20,700 2026
EDGE District - Catalyst Building 4601 Catalyst Court, 68106 170,000 2025
1501 Mike Fahey Street 1501 Mike Fahey Street, 68102 121,943 2024
Office property in Elkhorn, NE 2002 N 204th Street, 68022 7,920 2022
Office property in Elkhorn, NE 2002 N 204th Street, 68022 7,920 2022
3304 N 190th Plaza-Antler View 3304 N 190th Plaza, 68022 11,296 2021
Avant Spaces 3403 N 191st Ave, 68022 3,000 2021

Worth noting among recent office completions on the Omaha market is EDGE District - Core Building, which is currently the largest new office development in the city, at 180,870 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 Omaha 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.