Las Vegas Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, CBRE, Colliers, Avisonyoung
Quarterly office market indicators for Las Vegas, aggregated by PropZone from Cushman & Wakefield, CBRE, Colliers, Avisonyoung. As of Q1 2026, average asking rent was $40.00/SF with a 1.9% vacancy rate.
Projected current office pricing — Las Vegas
low confidenceModeled 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 3.5%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $40.00/SF | 1.9% | 273K SF | — | Cushman & Wakefield |
| Q1 2026 | $30.84/SF | 12.0% | — | — | CBRE |
| Q1 2026 | $30.00/SF | — | 243K SF | — | Colliers |
| Q4 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q2 2025 | $40.00/SF | 0.5% | 620K SF | — | Cushman & Wakefield |
| Q2 2025 | $37.27/SF | 18.3% | 189K SF | — | Colliers |
| Q1 2025 | $45.60/SF | — | — | — | Avisonyoung |
How the brokerage sources compare
For Q1 2026, the brokerages PropZone aggregates for Las Vegas office did not fully agree. Asking-rent estimates differ by $10.00/SF — from $30.00 to $40.00. PropZone reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Colliers | — | $30.00/SF | — |
| CBRE | 12.0% | $30.84/SF | — |
| Cushman & Wakefield | 1.9% | $40.00/SF | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Las Vegas?
- As of Q1 2026, the average asking rent for office space in Las Vegas was $40.00/SF, per Cushman & Wakefield.
- What is the office vacancy rate in Las Vegas?
- The office vacancy rate in Las Vegas was 1.9% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's Las Vegas market data come from?
- This report aggregates quarterly office market data for Las Vegas from Cushman & Wakefield, CBRE, Colliers, Avisonyoung.
- How much do brokerage estimates differ for office space in Las Vegas?
- For Q1 2026, the brokerage sources PropZone aggregates for Las Vegas did not fully agree. Asking-rent estimates differ by $10.00/SF — from $30.00 to $40.00. PropZone reconciles these into a single consensus median rather than relying on any one brokerage.