Waukesha Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $24.77 2024 Avg. Asking Rent
  • 27.57% 2024 Office Vacancy Rate
  • $27.9M2024 Total Office Sales
  • $67.24Avg. Sale Price/SF

Waukesha office price per square foot in 2024 was $24.77 on average. The local office market recorded an average vacancy rate of 27.57% across all asset classes combined. The 5 transactions that closed here throughout 2024 amounted to a total sale volume of $27.9M. Waukesha office space commanded an average sale price per square foot of $67.24.

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

  • Wisconsin Class A & A+ Office Space$22.30
  • Wisconsin Class B Office Space$19.73
  • Wisconsin Class C Office Space$13.73

Waukesha, WI Office Asking Rents by Class

2024 Office Vacancy Rates in Waukesha

Submarket Asking Rents Vacancy Rates
Waukesha $27.84 36.10%
Pewaukee $19.11 19.66%
Brookfield - Elm Grove $18.69 26.77%
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 Waukesha market was 27.57% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Waukesha was 19.66% in the Pewaukee submarket, while the highest office vacancy in the market was 36.10%, recorded in Waukesha.

Office Spaces for Rent in Wisconsin

Waukesha Office Sale Price per SF

  • $67.242024 Avg. Price per SF
  • $27.9M2024 Office Sales Volume
  • 52024 Number of Transactions

Waukesha, WI Sale Price per SF Trend

  • Waukesha Avg. Sale Price per SF in 2024$67.24
  • Wisconsin Avg. Sale Price per SF in 2024$120.67
The sale price for office space in Waukesha averaged $67.24 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Wisconsin average office sale price during the same time period was $120.67 per square foot.

2024 Office Sales Volume

  • Waukesha, WI Total Office Sales Volume in 2024 $27.9M
  • Waukesha, WI Total Number of Office Sales Closed in 2024 5
A total of 5 deals closed on the Waukesha office market in 2024, adding up to a yearly sales volume of $27.9M. Notably, the largest transaction on the market saw West Brook Health change hands for $14,700,000 on 3/28/2024.
Data provided by Commercial Edge

Coworking Spaces in Wisconsin

Largest Office Properties Recently Completed in Waukesha
Office building Address SF Completed
1581 East Racine Avenue 1581 East Racine Avenue, 53186 25,000 2005
1575 East Racine Avenue 1575 E Racine Ave, 53186 2,077 1983
1111 S West Ave 1111 S West Ave, 53186 28,000 1965
Moreland Medical Center 1111 Delafield Street, 53188 175,173 1964

Worth noting among recent office completions on the Waukesha market is 1581 East Racine Avenue, which is currently the largest new office development in the city, at 25,000 square feet.

Data provided by Commercial Edge

See reports for other markets

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 Waukesha 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.