Knoxville Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Knoxville is $19.60 per square foot, 15.18% lower compared to the previous year.
  • The market’s vacancy rate stands at 6.02%, lower than the state average of Tennessee, which is 16.31%.
  • Renting Class A/A+ office space here costs $22.83 per square foot, while Class B averages $17.58 and Class C stands at $14.52.

2025 Office Space Rent & Sales

  • $19.60 2025 Avg. Asking Rent
  • -15.18% Y-o-Y Avg. Asking Rent Change
  • 6.02% 2025 Office Vacancy Rate

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

Average asking rents for office space here stand at $19.60 per square foot. The local office market recorded an average vacancy rate of 6.02% in 2025, unchanged from 6.02% in 2024.

Knoxville, TN Office Asking Rents by Class

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

  • Avg. Asking Rent Class A & A+$22.83
  • Avg. Asking Rent Class B$17.58
  • Avg. Asking Rent Class C$14.52

The average asking rent for Class A and A+ office space stood at $22.83 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in Knoxville averaged $17.58 per square foot, while the average for Class C space was $14.52 per square foot.

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

  • Avg. Asking Rent Class A & A+$30.58
  • Avg. Asking Rent Class B$25.17
  • Avg. Asking Rent Class C$16.00

For comparison, the average rent for Class A and A+ office space in Tennessee was $30.58 per square foot. The state-wide average for Class B space was $25.17 per square foot, and Class C office spaces averaged $16.00 per square foot.

Knoxville, TN Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Knoxville was Knoxville - University at 0.63%. Meanwhile, the highest office vacancy rate in the market was 10.63%, recorded in Knoxville - West.
Submarket Asking Rents Vacancy Rates
Knoxville - University $29.50 0.63%
Farragut - Woodland Acres $25.32 5.28%
Knoxville - Downtown $21.91 6.38%
Cedar Bluff - Hardin Valley $21.45 3.21%
Outlying Knox County $15.75 8.82%
Knoxville - West $13.93 10.63%
Data provided by Yardi Research

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2025 Office Construction in Knoxville, TN

  • Knoxville, TN Total SF completed in 2025 121,689

How much office space was built in Knoxville in 2025?

121,689 square feet of new office space was delivered across the market in the previous year. New construction included 2 properties, with an average new property size of 60,845 square feet.

What are the largest recent office completions in Knoxville?

The largest recent office completion here is Parkside Plaza at 102,900 square feet, completed in 2007. The next largest completions are Two Lakeside Centre and Dowell Springs Office Park - 1400 Dowell Springs Blvd.

Office building Address SF Completed
Parkside Drive Class A Office with View Dynamic Glass 10142 Parkside Drive, 37922 81,960 2019
Dowell Springs Office Park - 1400 Dowell Springs Blvd 1400 Dowell Springs Blvd, 37909 94,026 2009
11470 Parkside 11470 Parkside Dr, 37934 22,032 2009
430 Montbrook Lane - Lower Level of Building 430 Montbrook Ln, 37919 10,182 2009
Two Lakeside Centre 2095 Lakeside Centre Way, 37922 96,336 2008
Parkside Plaza 11400 Parkside Drive, 37934 102,900 2007
The Offices at Water's Edge 608 Mabry Hood Road, 37932 30,000 2007
6501 Kingston Pike - Prime Office Space for Lease 6501 Kingston Pike, 37919 13,772 2007
2575 Willow Point Way #103 2575 Willow Point Way #103, 37931 1,206 2007
Onyx Pointe 8331 - 8351 E Walker Springs Road, 37923 85,978 2006
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.