2024 Office Space Rent & Sales
- $17.85 2024 Avg. Asking Rent
- 2.29% Y-o-Y Avg. Asking Rent Change
- 39.54% 2024 Office Vacancy Rate
Hoover office price per square foot in 2024 was $17.85 on average. This marked a +2.29% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 39.54% 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
2024 Average Office Rent per Square Foot
- Alabama Class A & A+ Office Space$23.07
- Alabama Class B Office Space$21.05
- Alabama Class C Office Space$17.64
Hoover, AL Office Asking Rents by Class
2024 Office Vacancy Rates in Hoover
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Vestavia Hills | $22.47 | 16.96% |
| Highway 280 Corridor | $21.75 | 26.56% |
| Hoover | $20.02 | 35.78% |
Office Spaces for Rent in Alabama
Coworking Spaces in Alabama
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| Office building | Address | SF | Completed |
|---|---|---|---|
| International Park Place | 2401 International Park Place, 35243 | 20,000 | 2025 |
| International Park Place | 2401 International Park Place, 35243 | 20,000 | 2025 |
| 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 |
| 2644 Old Rocky Ridge Road | 2644 Old Rocky Ridge Road, 35216 | 2,222 | 1999 |
| 1820 Southpark Drive | 1820 Southpark Drive, 35244 | 9,600 | 1997 |
| Woods Point | 1855 Data Drive, 35244 | 96,601 | 1989 |
| Offices at 3000 RiverChase | 3000 RiverChase, 35244 | 275,000 | 1987 |
| Hoover Professional Center | 1572 Montgomery Highway, 35216 | 20,000 | 1986 |
Worth noting among recent office completions on the Hoover market is International Park Place, which is currently the largest new office development in the city, at 20,000 square feet.
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. 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.