Toledo Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $16.48 2024 Avg. Asking Rent
  • 16.53% 2024 Office Vacancy Rate

Toledo office price per square foot in 2024 was $16.48 on average. The local office market recorded an average vacancy rate of 16.53% 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

  • Ohio Class A & A+ Office Space$23.67
  • Ohio Class B Office Space$18.24
  • Ohio Class C Office Space$14.24

Toledo, OH Office Asking Rents by Class

2024 Office Vacancy Rates in Toledo

Submarket Asking Rents Vacancy Rates
Western Lucas County $17.64 16.47%
West $17.32 15.13%
CBD $16.53 20.17%
Sylvania - Westgate $15.19 4.94%
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 Toledo market was 16.53% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Toledo was 4.94% in the Sylvania - Westgate submarket, while the highest office vacancy in the market was 20.17%, recorded in CBD.

Office Spaces for Rent in Ohio

Coworking Spaces in Ohio

2024 Office Construction in Toledo, OH

Largest Office Properties Recently Completed in Toledo
Office building Address SF Completed
1702 W Laskey Rd 1702 W Laskey Rd, 43613 3,582 2015
7596 Kings Pointe Road 7596 Kings Pointe Road, 43617 8,200 2008
7596 Kings Pointe Road 7596 Kings Pointe Road, 43617 8,200 2008
803 S Byrne Rd 803 S Byrne Rd, 43609 4,301 2007
Lott Industries - 3350 Hill Ave 3350 Hill Ave, 43607 172,739 1994
2229 West Laskey Road 2229 West Laskey Road, 43613 3,008 1992
710 S Reynolds Rd 710 S Reynolds Rd, 43615 9,971 1987
6800 W Central Ave 6800 W Central Ave, 43617 4,638 1986
Four SeaGate 433 North Summit Street, 43604 374,629 1984
5330 Heatherdowns Blvd. 5330 Heatherdowns Blvd., 43614 20,160 1977

Worth noting among recent office completions on the Toledo market is 1702 W Laskey Rd, which is currently the largest new office development in the city, at 3,582 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 Toledo 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.