2023 Office Space Rent & Sales
- $29.33 2023 Avg. Asking Rent
- 0.18% Y-o-Y Avg. Asking Rent Change
- 10.80% 2023 Office Vacancy Rate
Hermitage office price per square foot in 2023 was $29.33 on average. This marked a +0.18% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.80% 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
2023 Average Office Rent per Square Foot
- Tennessee Class A & A+ Office Space$31.18
- Tennessee Class B Office Space$22.11
- Tennessee Class C Office Space$26.18
Hermitage, TN Office Asking Rents by Class
Office Spaces for Rent in Tennessee
- Nashville Office Space
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Coworking Spaces in Tennessee
- Atlanta Coworking Space
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- Chattanooga Coworking Space
2023 Office Construction in Hermitage, TN
| Office building | Address | SF | Completed |
|---|---|---|---|
| Summit Medical Office Building III | 3901 Central Pike, 37076 | 74,341 | 1999 |
| Summit Medical Office Building I | 5651 Frist Blvd, 37076 | 128,021 | 1993 |
Worth noting among recent office completions on the Hermitage market is Summit Medical Office Building III, which is currently the largest new office development in the city, at 74,341 square feet.
See reports for other markets
- Nashville Office Rent Price
- Memphis Office Rent Price
- Knoxville Office Rent Price
- Brentwood Office Rent Price
- Chattanooga Office Rent Price
- Charlotte Office Rent Price
- San Francisco Office Rent Price
- Dallas Office Rent Price
- San Diego Office Rent Price
- Los Angeles Office Rent Price
- Austin Office Rent Price
- Miami Office Rent Price
- Seattle Office Rent Price
- Washington Office Rent Price
- Chicago Office Rent Price
- Phoenix Office Rent Price
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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Hermitage 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 CommercialEdge can guarantee that the information provided is complete.