Memphis Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from CBRE, Colliers, Cushman & Wakefield
Quarterly office market indicators for Memphis, aggregated by PropZone from CBRE, Colliers, Cushman & Wakefield. As of Q1 2026, average asking rent was $55.08/SF with a 6.0% vacancy rate.
Projected current office pricing — Memphis
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Memphis office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent trend-adjusted to today). Assumes ~94% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $55.08/SF | 6.0% | 2K SF | — | CBRE |
| Q1 2025 | $23.00/SF | 24.7% | 336K SF | — | Colliers |
| Q3 2019 | $54.00/SF | 3.8% | 0K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Memphis?
- As of Q1 2026, the average asking rent for office space in Memphis was $55.08/SF, per CBRE.
- What is the office vacancy rate in Memphis?
- The office vacancy rate in Memphis was 6.0% as of Q1 2026 (CBRE).
- Where does PropZone's Memphis market data come from?
- This report aggregates quarterly office market data for Memphis from CBRE, Colliers, Cushman & Wakefield.