Markets › Austin, TX
Office Property Values in Austin, TX
Automated market snapshot from recent comparable sales · Dec 2024 – Nov 2025. Updated 2026-07-14.
Austin, TX office market
Austin's office market remains tenant-favorable in mid-2026, with a citywide vacancy rate near 24-25% - one of the highest among major U.S. metros - giving tenants strong negotiating leverage on rents and concessions. Closed sale prices in 2025 averaged around $216/SF across all classes, above the national average of $192/SF, though individual deals ranged from under $130/SF for value-add suburban assets to over $400/SF for trophy downtown towers. Lease rates for Class A space run roughly $45-$65/SF full-service in the CBD and $28-$45/SF in suburban submarkets. A shrinking construction pipeline and early return-to-office mandates from major tech employers point toward gradual tightening of conditions through 2026 and into 2027.
What's driving Office prices in Austin
Austin office sale prices declined from a 2024 average of ~$403/SF (inflated by the $521.8M Block 185 trophy trade) to a 2025 average of ~$216/SF as institutional sellers like Starwood exited at deep discounts and value-add buyers dominated deal flow.
- Elevated overall vacancy (~24.6% as of early 2026) suppressing values and keeping buyers cautious
- Shrinking new construction pipeline (down 91% quarter-over-quarter in Q3 2025) reducing future supply pressure
- Return-to-office mandates from tech tenants (NVIDIA 230K SF expansion, NinjaOne HQ) absorbing sublease inventory
- Texas SB 840 enabling office-to-residential conversions creating optionality and floor for distressed asset pricing
Recent Office comps in Austin, TX
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 301 Congress Ave, Austin, TX 78701 (Block 185) listing | Dec 2024 | Sale | 1291000 | $521,800,000 | $404 |
| 3300 N Interstate 35, Austin, TX 78722 (University Park) news | Q1 2025 | Sale | 206349 | $26,000,000 | $126 |
| 5707 Southwest Parkway, Austin, TX 78735 (Encino Trace I and II) news | Q3 2025 | Sale | 326852 | Undisclosed | |
| 7600 Chevy Chase Drive, Austin, TX 78752 (Chase Park) news | Q3 2025 | Sale | 313988 | Undisclosed | |
| 1250 S. Capital of Texas Highway, West Lake Hills, TX 78746 (Cielo Center) news | Nov 2025 | Sale | 286000 | Undisclosed (assessed taxable value ~$35M / ~$122/SF) | ~$122 (assessed) |
| 9001 N Interstate 35, Austin, TX 78753 (Northview Business Center) news | Q4 2025 | Sale | 261546 | Undisclosed | |
| 301 Congress Ave, Austin, TX 78701 (NinjaOne HQ) news | Q1 2025 | Lease | 60033 | Undisclosed (market rate; CBD Class A ~$59-$65/SF FS) | ~$59-$65/SF/yr (est.) |
| 3232 E Cesar Chavez St, Austin, TX 78702 listing | 2025 | Lease | 26207 | $42.00 - $45.00/SF/yr | $42-$45/SF/yr |
Frequently asked questions
What is the average price per square foot for office space in Austin, TX?
Recent sale comps put the median around $126/SF, with a typical range of $124–$265/SF across 3 recent sales (Dec 2024 – Nov 2025).
What cap rates are office properties trading at in Austin?
Recent market data suggests roughly 6.0%–6.5% for stabilized office deals in the Austin area.
How are these numbers calculated?
They are automated estimates built from recent comparable sales found in public listings, property records, and brokerage announcements. They are not an appraisal or a broker opinion of value.
How do I find out what my Austin office property is worth?
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Austin, TX, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.