Markets › Raleigh, NC
Office Property Values in Raleigh, NC
Automated market snapshot from recent comparable sales · Apr 2024 – Jul 2026. Updated 2026-07-15.
Raleigh, NC office market
The Raleigh, NC office market in 2024-2026 has been defined by a wide gap between distressed assets selling at deep discounts and stabilized Class A properties attracting selective buyers at reset pricing. Sale prices averaged $158/SF in 2024 and recovered to roughly $203-$213/SF by late 2025, while cap rates have hovered in the 8.5% to 9.1% range. Leasing demand is gradually improving in amenitized districts, and the near-total halt of new office construction is expected to tighten supply over the medium term, supporting valuations for well-located assets.
What's driving Office prices in Raleigh
Office sale prices in Raleigh fell sharply in 2024 (averaging $158/SF, down roughly 48% year over year per CommercialCafe/Yardi), then partially recovered to approximately $203-$213/SF by Q3-Q4 2025 as private buyers stepped in at reset pricing, though values remain well below pre-2022 levels.
- Near-zero new office supply coming online in 2026 is expected to gradually tighten vacancy and support rents for well-located Class A and B assets
- Elevated overall vacancy (roughly 20-21% citywide per Yardi/CommercialCafe 2024 data) keeps downward pressure on pricing for older and less-amenitized buildings
- Growing pipeline of lender-driven and distressed sales as loan maturities approach, widening the buyer opportunity set but depressing average sale prices
- Life sciences, biotech, and tech tenant demand concentrated in select submarkets (North Wake, Downtown, Midtown) is creating a two-tier market with pockets of sub-12% vacancy
Recent Office comps in Raleigh, NC
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| Undisclosed address, Raleigh, NC (75,000 SF office building) news | Jul 2026 | Sale | 75000 | $26,750,000 | $356.67 |
| 2301 Rexwoods Drive & 4207, 4301 & 4325 Lake Boone Trail, Raleigh, NC (Rexwoods Office Center) listing | Apr 2024 | Sale | $33,940,000 | ||
| Northeast Raleigh office (undisclosed), Raleigh, NC news | Oct 2025 | Sale | 57000 | $11,000,000 | $193 |
| 4601 Six Forks Road, Raleigh, NC (Landmark Office Center) news | 2025 | Sale | $127 | ||
| 4505-4515 Falls of the Neuse Road, Raleigh, NC (Somerset Office Buildings) news | 2025 | Sale | $63 | ||
| 150 Fayetteville Street, Raleigh, NC (Downtown HQ Tower) listing | Jun 2026 | Sale | 550000 | Listed for sale; price not publicly disclosed | |
| Downtown Raleigh office (Grubb Ventures building), Raleigh, NC listing | 2026 | Lease | $31.50/SF/yr Full Service | $31.50 |
Frequently asked questions
What is the average price per square foot for office space in Raleigh, NC?
Recent sale comps put the median around $160/SF, with a typical range of $111–$234/SF across 4 recent sales (Apr 2024 – Jul 2026).
What cap rates are office properties trading at in Raleigh?
Recent market data suggests roughly 8.5%–9.1% for stabilized office deals in the Raleigh 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 Raleigh office property is worth?
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Raleigh, NC, 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.