Norman Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Norman is $15.66 per square foot, 11.20% lower compared to the previous year.
  • The average sale price for office space in Norman is $222.09 per square foot, marking an increase of 273.61% compared to 2024.
  • The market’s vacancy rate stands at 22.87%, higher than the state average of Oklahoma, which is 18.26%.

2025 Office Space Rent & Sales

  • $15.66 2025 Avg. Asking Rent
  • -11.20% Y-o-Y Avg. Asking Rent Change
  • 22.87% 2025 Office Vacancy Rate
  • $17.1M2025 Total Office Sales
  • $222.09Avg. Sale Price/SF

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

Average asking rents for office space here stand at $15.66 per square foot. The local office market recorded an average vacancy rate of 22.87% in 2025, unchanged from 22.87% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $17.1M across 3 sales. These transactions commanded an average sale price per square foot of $222.09.

Norman, OK Office Asking Rents by Class

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

  • Avg. Asking Rent Class A & A+$21.71
  • Avg. Asking Rent Class B$16.27
  • Avg. Asking Rent Class C$12.83

For comparison, the average rent for Class A and A+ office space in Oklahoma was $21.71 per square foot. The state-wide average for Class B space was $16.27 per square foot, and Class C office spaces averaged $12.83 per square foot.

Explore Top Office Markets in Oklahoma

2025 Office Sales Volume

  • $222.092025 Avg. Price per SF
  • $17.1M2025 Office Sales Volume
  • 32025 Number of Transactions

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

Average sale prices for office space in this market recorded a +273.61% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $222.09 per square foot. For comparison, the statewide Oklahoma average during the same time period stood at $90.62 per square foot, while the national average was $182.48 per square foot.

Norman, OK Sale Price per SF Trend

  • Norman Avg. Sale Price per SF in 2025$222.09
  • Oklahoma Avg. Sale Price per SF in 2025$90.62

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

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $17.1M.

  • Norman, OK Total Office Sales Volume in 2025 $17.1M
  • Norman, OK Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

Office Construction in Norman, OK

What are the largest recent office completions in Norman?

The largest recent office completion here is Five Partners Place at 100,000 square feet, completed in 2014. The next largest completions are One Partners Place and 3501 24th Avenue NW.

Office building Address SF Completed
401 S University Blvd 401 S University Blvd, 73069 9,950 2025
Legacy Office Park 3219 - 3441 W Rock Creek Rd, 73072 9,200 2020
NW Norman Medical Center 3441 24th Ave NW, 73069 13,663 2019
3501 24th Avenue NW 3501 24th Avenue NW, 73069 25,422 2016
3151 W Tecumseh Rd 3151 W Tecumseh Rd, 73072 21,116 2015
2760 Washington Dr 2760 Washington Dr, 73069 2,737 2015
Five Partners Place 201 Stephenson Pkwy, 73072 100,000 2014
One Partners Place 350 David L. Boren Blvd, 73072 52,000 2007
1018 - Quorum Office Park 1018 24th Ave NW, 73069 7,855 2007
Quorum Office Park 1014 24th Ave NW, 73069 6,250 2007
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.