Cornerstone Tower$32.09 – $39.06/SF/yr FS
Medical Office Spaces — Market Data & Listings
Medical Office Spaces across 11 markets: 49 tracked properties, average asking rent $29.93/SF/yr and 20.6% vacancy. Browse listings for lease and for sale.
11Markets covered
49Properties tracked
$29.93/SFAvg asking rent
20.6%Avg vacancy
570,800 SFAvailable
Medical Office Spaces by market
| Market | Buildings | Inventory SF | Vacancy | Avg rent | Rent YoY | Cap rate |
|---|---|---|---|---|---|---|
| Houston | 16 | 1,383,600 | 15.0% | $28.89 | 4.7% | 7.05% |
| Washington DC | 11 | 1,300,100 | 5.5% | $28.27 | 5.1% | 5.97% |
| San Antonio | 6 | 635,400 | 6.6% | $29.67 | 2.8% | 5.55% |
| Dallas-Fort Worth | 5 | 485,400 | 11.9% | $30.06 | 5.5% | 5.95% |
| Rio Grande Valley | 2 | 340,400 | 7.2% | $30.55 | -0.5% | 5.72% |
| Austin | 3 | 323,500 | 25.4% | $30.16 | 6.8% | 5.86% |
| Midland-Odessa | 2 | 111,200 | 7.8% | $28.74 | 4.1% | 6.62% |
| Wichita Falls | 1 | 71,700 | 0.0% | $39.38 | 1.6% | 6.45% |
| College Station | 1 | 69,400 | 100.0% | $28.53 | 1.3% | 6.75% |
| Abilene-San Angelo | 1 | 27,100 | 11.1% | $27.57 | -0.8% | 5.82% |
| Richmond | 1 | 25,200 | 15.5% | $27.41 | 3.7% | 5.82% |
Featured medical listings
Enterprise Park$26.39 – $32.13/SF/yr FS
3340 Commerce St$28.90 – $35.19/SF/yr FS
909 Richmond Ave$33.57 – $40.87/SF/yr FS
Liberty Building$31.88 – $38.81/SF/yr FS
408 Post Oak Blvd$27.49 – $33.46/SF/yr FS
Frontier Place$35.47 – $43.19/SF/yr FS
2252 Wisconsin Ave$26.28 – $32.00/SF/yr FS
Legacy Center$30.86 – $37.57/SF/yr FS
Riverfront Exchange$27.57 – $33.57/SF/yr FS
2950 Richmond Ave$28.53 – $34.74/SF/yr FS
953 W 6th St$27.98 – $34.07/SF/yr FS
49 medical properties are tracked in the markets RealStarGlobal covers, representing 4,773,000 SF of rentable building area, of which 570,800 SF is currently marketed as available.
Asking rents average $32.44 per square foot per year, the median marketed suite is 8,700 SF, and listings have been on market a median of 298 days.
The stock splits 10 Class A, 29 Class B, 10 Class C, with construction dates from 1905 to 2019 (median 1962).
The most concentrated submarkets are Texas Medical Center (11), Northwest / Medical Center (6), Fort Worth CBD (3), Midtown Center - East Tower (2), East End (2).
Medical space for lease by city
Austin, TXHouston, TXSan Antonio, TXDallas, TXRichmond, VAWashington, DCFort Worth, TXHyattsville, MDDel Valle, TXBethesda, MDAlexandria, VAArlington, VAMidland, TXPlano, TXMcAllen, TXBrownsville, TXForest Heights, MDCollege Station, TXWichita Falls, TXSpringfield, VAAbilene, TX
Medical property for sale by city
Other property types
Office SpacesIndustrial PropertiesRetail SpacesMultifamily PropertiesFlex SpacesHospitality PropertiesLand
Frequently asked questions
What is the average asking rent for medical space?
Across the 11 markets RealStarGlobal tracks, medical asking rents average $29.93 per square foot per year, ranging from $27.41 to $39.38.
Which market has the most medical inventory?
Houston with 1,383,600 SF across 16 buildings.
What is the medical vacancy rate?
The tracked medical vacancy rate averages 20.6%. Lowest: Wichita Falls at 0.0%.
What cap rates do medical assets trade at?
Average asking cap rate is 6.14% at $268 per square foot.