2023 Office Space Rent & Sales
- $22.05 2023 Avg. Asking Rent
- 14.51% 2023 Office Vacancy Rate
Madison office price per square foot in 2023 was $22.05 on average. The local office market recorded an average vacancy rate of 14.51% 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
Madison, AL Office Asking Rents by Class
Office Spaces for Rent in Alabama
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Madison Medical Complex | 8425 Wann Drive, 35758 | 27,000 | 2023 |
| Madison Medical I | 1041 Balch Drive, 35758 | 66,513 | 2014 |
| Madison Station | 8337 Highway 72 W, 35758 | 30,480 | 2012 |
| 8331 Madison Blvd | 8331 Madison Blvd, 35758 | 23,443 | 2009 |
| 124 Jetplex Blvd SW | 124 Jetplex Blvd SW, 35824 | 63,000 | 1992 |
| 124 Jetplex Blvd SW | 124 Jetplex Blvd SW, 35824 | 63,000 | 1992 |
| The Tower @ 7800 | 7800 Madison Blvd., 35806 | 60,000 | 1989 |
| Meadow Green Centre Office Building | 9238 Madison Blvd, 35758 | 107,770 | 1987 |
Worth noting among recent office completions on the Madison market is Madison Medical Complex, which is currently the largest new office development in the city, at 27,000 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 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 Madison 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.