Albuquerque Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Albuquerque is $20.31 per square foot, 0.37% higher compared to the previous year.
  • The market’s vacancy rate stands at 12.08%, higher than the state average of New Mexico, which is 12.08%.
  • Renting Class A/A+ office space here costs $21.80 per square foot, while Class B averages $18.89 and Class C stands at $12.50.

2025 Office Space Rent & Sales

  • $20.31 2025 Avg. Asking Rent
  • 0.37% Y-o-Y Avg. Asking Rent Change
  • 12.08% 2025 Office Vacancy Rate

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

Average asking rents for office space here stand at $20.31 per square foot. The local office market recorded an average vacancy rate of 12.08% in 2025, unchanged from 12.08% in 2024.

Albuquerque, NM Office Asking Rents by Class

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

  • Avg. Asking Rent Class A & A+$21.80
  • Avg. Asking Rent Class B$18.89
  • Avg. Asking Rent Class C$12.50

The average asking rent for Class A and A+ office space stood at $21.80 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in Albuquerque averaged $18.89 per square foot, while the average for Class C space was $12.50 per square foot.

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

  • Avg. Asking Rent Class A & A+$21.80
  • Avg. Asking Rent Class B$18.88
  • Avg. Asking Rent Class C$12.50

For comparison, the average rent for Class A and A+ office space in New Mexico was $21.80 per square foot. The state-wide average for Class B space was $18.88 per square foot, and Class C office spaces averaged $12.50 per square foot.

Albuquerque, NM Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Albuquerque was Albuquerque - North Valley at 1.64%. Meanwhile, the highest office vacancy rate in the market was 18.76%, recorded in Albuquerque - Downtown.
Submarket Asking Rents Vacancy Rates
Albuquerque - I-25 Corridor $21.68 11.11%
Albuquerque - Northeast Heights $20.89 4.50%
Albuquerque - Midtown $20.67 12.62%
Albuquerque - North Valley $20.50 1.64%
Albuquerque - Downtown $19.60 18.76%
Albuquerque - Airport $14.93 5.65%
Data provided by Yardi Research

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2025 Office Construction in Albuquerque, NM

  • Albuquerque, NM Total SF completed in 2025 19,712

How much office space was built in Albuquerque in 2025?

19,712 square feet of new office space was delivered across the market in the previous year. New construction included 1 properties, with an average new property size of 19,712 square feet.

What are the largest recent office completions in Albuquerque?

The largest recent office completion here is Paseo Nuevo Office Complex at 123,000 square feet, completed in 2008. The next largest completions are Albuquerque Business Center - 3900 Masthead Street and Jefferson Plaza.

Office building Address SF Completed
201 Unser Blvd NW 201 Unser Blvd NW, 87121 883 2020
1716 Central Avenue SW 1716 Central Avenue SW, 87104 32,280 2019
Carlisle Pavilion 2700 Carlisle Blvd NE, 87110 4,820 2017
7425 Jefferson Street NE 7425 Jefferson Street NE, 87109 45,000 2011
Paseo Nuevo Office Complex 8220 San Pedro NE, 87113 123,000 2008
Jefferson Plaza 4041 Jefferson Plaza, 87109 77,276 2008
Albuquerque Business Center - 3900 Masthead Street 3900 Masthead Street NE, 87109 92,455 2006
West Mesa MOB 10511 Golf Course Rd., 87114 45,343 2006
1450 Innovation Pkwy SE 1450 Innovation Pkwy SE, 87123 33,500 2006
Cottonwood Professional Office 3730 Ellison Road Northwest, 87114 2,806 2006
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.