Dayton Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $18.88 2023 Avg. Asking Rent
  • 20.75% 2023 Office Vacancy Rate
  • $11.2M2023 Total Office Sales
  • $19.69Avg. Sale Price/SF

Dayton office price per square foot in 2023 was $18.88 on average. The local office market recorded an average vacancy rate of 20.75% across all asset classes combined. The 5 transactions that closed here throughout 2023 amounted to a total sale volume of $11.2M. Dayton office space commanded an average sale price per square foot of $19.69.

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

  • Ohio Class A & A+ Office Space$24.12
  • Ohio Class B Office Space$18.73
  • Ohio Class C Office Space$19.85

Dayton, OH Office Asking Rents by Class

2023 Office Vacancy Rates in Dayton

Submarket Asking Rents Vacancy Rates
Wright-Patterson $21.99 12.74%
East $20.89 24.34%
I-675 Corridor $19.52 19.65%
South $18.93 16.31%
Greene County $17.91 23.56%
North $15.77 10.68%
CBD $14.24 26.06%
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 Dayton market was 20.75% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Dayton was 10.68% in the North submarket, while the highest office vacancy in the market was 26.06%, recorded in CBD.

Office Spaces for Rent in Ohio

Dayton Office Sale Price per SF

  • $19.692023 Avg. Price per SF
  • $11.2M2023 Office Sales Volume
  • 52023 Number of Transactions

Dayton, OH Sale Price per SF Trend

  • Dayton Avg. Sale Price per SF in 2023$19.69
  • Ohio Avg. Sale Price per SF in 2023$81.82
The sale price for office space in Dayton averaged $19.69 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Ohio average office sale price during the same time period was $81.82 per square foot.

2023 Office Sales Volume

  • Dayton, OH Total Office Sales Volume in 2023 $11.2M
  • Dayton, OH Total Number of Office Sales Closed in 2023 5
A total of 5 deals closed on the Dayton office market in 2023, adding up to a yearly sales volume of $11.2M. Notably, the largest transaction on the market saw Premier Health Center change hands for $5,550,000 on 12/19/2023.
Data provided by Commercial Edge

Coworking Spaces in Ohio

2023 Office Construction in Dayton, OH

  • Dayton, OH Total SF completed in 2023 53,828
  • Dayton, OH Total SF under construction in 2024 210,000

During 2023, 53,828 square feet of new office space were delivered across the market. At the close of 2023, the Dayton office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 53,828 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 210,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Dayton
Office building Address SF Completed
Dayton Motor Car Building 15 McDonough Street, 45402 81,939 2020
Tech Town II 711 East Monument Avenue, 45402 36,000 2009
Miami Valley Research Park - Technology Center IV 3123 Research Blvd, 45420 52,704 2008
5540 Far Hills Avenue 5540 Far Hills Ave, 45429 300 2008
Wright Point Office Park - 5000 Springfield Street 5000 Springfield Street, 45431 49,424 2005
Performance Place 109 North Main Street, 45402 49,302 2003
220 East Monument Avenue 220 East Monument Avenue, 45402 150,000 2002
8177 Washington Church Road 8177 Washington Church Road, 45458 65,148 1998
Miami Valley Research Park - Technology Center III 3139 Research Blvd, 45420 48,824 1994
Wright Health Building 1222 South Patterson Blvd., 45402 75,120 1993

Worth noting among recent office completions on the Dayton market is Dayton Motor Car Building, which is currently the largest new office development in the city, at 81,939 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 Dayton 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.