Reno Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Reno is $23.55 per square foot, 4.72% lower compared to the previous year.
  • The average sale price for office space in Reno is $211.90 per square foot, marking an increase of 24.17% compared to 2024.
  • The market’s vacancy rate stands at 8.72%, lower than the state average of Nevada, which is 9.40%.

2025 Office Space Rent & Sales

  • $23.55 2025 Avg. Asking Rent
  • -4.72% Y-o-Y Avg. Asking Rent Change
  • 8.72% 2025 Office Vacancy Rate
  • $21.4M2025 Total Office Sales
  • $211.90Avg. Sale Price/SF

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

Average asking rents for office space here stand at $23.55 per square foot. The local office market recorded an average vacancy rate of 8.72% in 2025, unchanged from 8.72% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $21.4M across 3 sales. These transactions commanded an average sale price per square foot of $211.90.

Reno, NV Office Asking Rents by Class

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

  • Avg. Asking Rent Class A & A+$35.06
  • Avg. Asking Rent Class B$23.49
  • Avg. Asking Rent Class C$23.66

For comparison, the average rent for Class A and A+ office space in Nevada was $35.06 per square foot. The state-wide average for Class B space was $23.49 per square foot, and Class C office spaces averaged $23.66 per square foot.

Reno, NV Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Reno was Reno - South at 5.98%. Meanwhile, the highest office vacancy rate in the market was 14.10%, recorded in Reno - Downtown.
Submarket Asking Rents Vacancy Rates
Reno - Downtown $31.80 14.10%
Reno - South Central $27.94 6.59%
Reno - South $27.00 5.98%
Reno - Airport $16.80 11.59%
Reno - Central $13.98 7.80%
Data provided by Yardi Research

2025 Office Sales Volume

  • $211.902025 Avg. Price per SF
  • 24.17%Y-o-Y Avg. PpSF Change
  • $21.4M2025 Office Sales Volume
  • 32025 Number of Transactions

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

Average sale prices for office space in this market recorded a +24.17% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $211.90 per square foot. For comparison, the statewide Nevada average during the same time period stood at $263.47 per square foot, while the national average was $182.48 per square foot.

Reno, NV Sale Price per SF Trend

  • Reno Avg. Sale Price per SF in 2025$211.90
  • Nevada Avg. Sale Price per SF in 2025$263.47

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

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $21.4M.

  • Reno, NV Total Office Sales Volume in 2025 $21.4M
  • Reno, NV Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

Office Construction in Reno, NV

What are the largest recent office completions in Reno?

The largest recent office completion here is NevDex Office Park - Building 4 at 65,917 square feet, completed in 2007. The next largest completions are 887 Trademark Drive and Reno Tahoe Tech Center - 10615 Professional Circle.

Office building Address SF Completed
5435 Kietzke Lane 5435 Kietzke Lane, 89511 10,438 2023
887 Trademark Drive 887 Trademark Drive, 89521 53,437 2010
NevDex Office Park - Building 4 5390 Kietzke Lane, 89511 65,917 2007
9437 Double Diamond Pkwy 9437 Double Diamond Pkwy, 89521 5,128 2006
University Hills Professional Center 1150 Selmi Dr Ste 505, 89512 1,800 2006
Reno Tahoe Tech Center - 10615 Professional Circle 10615 Professional Circle, 89521 46,810 2005
Quail North West 1675 Robb Dr, 89523 9,600 2005
5421 Kietzke Ln Suite 100 5421 Kietzke Lane, 89511 3,012 2005
6255 Sharlands Avenue 6255 Sharlands Ave, 89523 45,250 2004
730 Sandhill Rd 730 Sandhill Rd, 89521 33,874 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.