Hoover Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $17.45 2023 Avg. Asking Rent
  • 22.81% 2023 Office Vacancy Rate

Hoover office price per square foot in 2023 was $17.45 on average. The local office market recorded an average vacancy rate of 22.81% 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

  • Alabama Class A & A+ Office Space$23.54
  • Alabama Class B Office Space$19.92
  • Alabama Class C Office Space$21.24

Hoover, AL Office Asking Rents by Class

2023 Office Vacancy Rates in Hoover

Submarket Asking Rents Vacancy Rates
Vestavia Hills $22.53 13.28%
Highway 280 Corridor $20.83 21.64%
Hoover $20.73 19.96%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Hoover market was 22.81% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Hoover was 13.28% in the Vestavia Hills submarket, while the highest office vacancy in the market was 21.64%, recorded in Highway 280 Corridor.

Office Spaces for Rent in Alabama

Coworking Spaces in Alabama

Largest Office Properties Recently Completed in Hoover
Office building Address SF Completed
5576 Grove Blvd 5576 Grove Blvd, 35226 4,500 2011
Office for Sale - Hwy 280 Birmingham 244 Inverness Center Dr, 35242 3,229 2009
1800 International Park 1800 International Park Drive, 35243 145,715 1999
1820 Southpark Drive 1820 Southpark Drive, 35244 9,600 1997
Office Suite For Lease 3525 Lorna Ridge Drive, 35216 5,000 1992
Woods Point 1855 Data Drive, 35244 96,601 1989
Chase Commerce Park 3821 & 3829 Lorna Rd, 35244 43,000 1989
2189 Parkway Lake Drive 2189 Parkway Lake Drive, 35244 12,393 1988
Offices at 3000 RiverChase 3000 RiverChase, 35244 275,000 1987
1900 International Park 1900 International Park Dr, 35243 65,427 1986

Worth noting among recent office completions on the Hoover market is 5576 Grove Blvd, which is currently the largest new office development in the city, at 4,500 square feet.

Data provided by Commercial Edge

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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 Hoover 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.