2023 Office Space Rent & Sales
- $29.36 2023 Avg. Asking Rent
- 21.41% 2023 Office Vacancy Rate
Monterey office price per square foot in 2023 was $29.36 on average. The local office market recorded an average vacancy rate of 21.41% 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
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Monterey, CA Office Asking Rents by Class
Office Spaces for Rent in California
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 31 Upper Ragsdale Drive | 31 Upper Ragsdale Drive, 93940 | 28,316 | 2008 |
| 665 Munras Avenue | 665 Munras Avenue, 93940 | 27,000 | 2001 |
| 300 Bonifacio Place | 300 Bonifacio Pl, 93940 | 15,989 | 2000 |
| 12 Upper Ragsdale Drive & 21 Lower Ragsdale Drive | 12 Upper Ragsdale Drive, 93940 | 40,236 | 1994 |
| 1 Harris CT | 1 Harris CT, 93940 | 16,180 | 1991 |
| 20 Ryan Ranch Road | 20 Ryan Ranch Road, 93940 | 215,000 | 1990 |
| Monterey Commerce Center | 1 Lower Ragsdale Dr, Bldg 1, 93940 | 51,144 | 1990 |
| 409 Washington Street | 409 Washington St, 93940 | 13,595 | 1989 |
| 791 Foam St | 791 Foam St, 93940 | 4,708 | 1986 |
| Garden Road Professional Center | 2511 Garden Road, 93940 | 174,890 | 1985 |
Worth noting among recent office completions on the Monterey market is 31 Upper Ragsdale Drive, which is currently the largest new office development in the city, at 28,316 square feet.
See reports for other markets
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- Beverly Hills Office Rent Price
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 Monterey 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.