Reno Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , Cushman & Wakefield, Colliers
Quarterly office market indicators for Reno, aggregated by CREhunt from , Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $25.80/SF with a 9.5% vacancy rate.
Projected current office pricing — Reno
Projected asking rent
$25.53–$25.80/SF/yr
Estimated sale value
$180–$237/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 6.4%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $25.80/SF | 9.5% | — | — | |
| Q1 2026 | $25.80/SF | 9.5% | -31K SF | — | Cushman & Wakefield |
| Q4 2025 | — | 9.2% | 2K SF | — | Cushman & Wakefield |
| Q4 2024 | — | 10.6% | 0K SF | — | Cushman & Wakefield |
| Q4 2023 | — | 14.6% | 0K SF | — | Cushman & Wakefield |
| Q4 2023 | — | 5.2% | 39K SF | — | Colliers |
| Q4 2020 | — | 5.8% | 0K SF | — | Cushman & Wakefield |
| Q2 2020 | — | 11.2% | 0K SF | — | Cushman & Wakefield |
| Q3 2017 | $34.78/SF | 5.2% | 0K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Reno?
- As of Q1 2026, the average asking rent for office space in Reno was $25.80/SF.
- What is the office vacancy rate in Reno?
- The office vacancy rate in Reno was 9.5% as of Q1 2026.
- Where does CREhunt's Reno market data come from?
- This report aggregates quarterly office market data for Reno from Cushman & Wakefield, Colliers.
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