Chattanooga Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $21.07 2024 Avg. Asking Rent
  • 8.87% 2024 Office Vacancy Rate

Chattanooga office price per square foot in 2024 was $21.07 on average. The local office market recorded an average vacancy rate of 8.87% 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

  • Tennessee Class A & A+ Office Space$30.18
  • Tennessee Class B Office Space$23.45
  • Tennessee Class C Office Space$17.82

Chattanooga, TN Office Asking Rents by Class

2024 Office Vacancy Rates in Chattanooga

Submarket Asking Rents Vacancy Rates
Chattanooga - East $24.50 4.56%
Chattanooga -South $22.74 50.51%
Chattanooga -Downtown $17.47 6.57%
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 Chattanooga market was 8.87% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Chattanooga was 4.56% in the Chattanooga - East submarket, while the highest office vacancy in the market was 50.51%, recorded in Chattanooga -South.

Office Spaces for Rent in Tennessee

Coworking Spaces in Tennessee

2024 Office Construction in Chattanooga, TN

Largest Office Properties Recently Completed in Chattanooga
Office building Address SF Completed
1909 Gunbarrel Road 1909 Gunbarrel Road, 37421 6,300 2025
Central Crossing 1939 Central Ave, 37408 52,200 2024
1607 Central Ave 1607 Central Ave, 37408 23,904 2024
27 W 19th Street 27 West 19th Street, 37408 4,402 2019
1400 SF Retail / Office for Lease on Ringgold Rd 6016 Ringgold Rd Suite 108, 37412 7,000 2018
Chattanooga Retail or Office Space Opportunity off of Busy Gunbarrel Rd. | Concorde Creek 1515 Gunbarrel Rd, 37421 13,373 2008
6391 Bonny Oaks Drive 6391 Bonny Oaks Dr, 37416 10,000 2005
Office Space Available | 7446 Shallowford Rd., Suite 116 | Chattanooga, TN 7446 Shallowford Rd, 37421 2,250 2005
Standifer Gap Commercial Office with 10 Office Rooms | ±3,200 SF 8052 Standifer Gap Road Suite A and B, 37421 3,200 2004
6714 Heritage Business Ct 6714 Heritage Business Court, 37421 3,048 2004

Worth noting among recent office completions on the Chattanooga market is 1909 Gunbarrel Road, which is currently the largest new office development in the city, at 6,300 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 Chattanooga 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.