Nashville, TN office market
Nashville's office market has held up better than most U.S. peers, with sale prices running near $205-226 per square foot and Class A asking rents averaging around $30-34 per square foot annually. Overall vacancy sits in the 17-19 percent range but is trending down as major corporate tenants like Oracle and Starbucks commit to large long-term leases. A slowing construction pipeline and strong tenant demand for amenity-rich space are the key positive forces heading into late 2026.
What's driving Office prices in Nashville
Nashville office sale prices rose from a 2024 average of approximately $124-205/SF to $217-226/SF by early 2026, reflecting continued investor appetite for stabilized Class A assets even as transaction volume remained thin with roughly 11 deals closed in all of 2024.
- Flight-to-quality driving Class A lease-up while Class B/C vacancy widens, compressing values for older product
- Construction pipeline near 5-year low of 1.8M SF, limiting new supply and supporting rents in premium buildings
- Large corporate relocations (Oracle, Starbucks) absorbing significant blocks of space and validating trophy-asset pricing above $200/SF
- Overall vacancy still elevated at 17-19 percent, keeping rent growth muted at roughly 1.0 percent annually and capping cap rate compression
Market intelligence
Tracking this market · 6 comps · latest deal Mar 2025.
This quarter: 0 comps added to our corpus in Q3 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
MomentumPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The shaded area is Nashville's municipal boundary, coloured to match the momentum read above.
Recent Office comps in Nashville, TN
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 401 Commerce St, Nashville, TN 37219 (Truist Plaza) news | Apr 2024 | Sale | 338000 | $84,500,000 | $250/SF |
| The McEwen Building, Franklin, TN (Cool Springs submarket) news | Aug 2024 | Sale | 175262 | $48,800,000 | $278/SF |
| 3000 Meridian Blvd, Franklin, TN 37067 (Meridian Cool Springs) public record | Mar 2025 | Sale | 100000 | $19,500,000 | $195/SF |
| 1320 Adams St, Nashville, TN 37208 (Neuhoff District) news | Mar 2026 | Lease | 116000 | ||
| Peabody Union, South Bank, Nashville, TN news | Apr 2026 | Lease | 250000 | ||
| Nashville CBD / Downtown, Nashville, TN (State of Tennessee DCS lease) listing | Oct 2025 | Lease | 64674 | ||
| Median of 3 recent sales · $250/SF | $250 | ||||
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Nashville, TN, 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.