What are cap rates for Houston office buildings in 2026?
Crexi's Q3 2026 Houston office median asking cap rate was 6.90%. Current Coldwell Banker Commercial Universal listings marketed by Mark N Noor are offered at 7.00%–8.00% on in-place NOI.
Is Houston office supply still growing?
No. The under-construction pipeline fell to 348,585 SF in Q2 2026 from 1,342,737 SF in Q4 2024, about a 74% drop.
How much Houston office space is available?
Availability was 26.2% in Q3 2026, with trophy and premier Class A at 12.7%.
Submarket notes
| Submarket | Figures | Period |
|---|---|---|
| Greenspoint | About 10.05M SF; 45.7% availability; $19.56/SF all-class asking | Q1 2026 |
| FM 1960 / Hwy 249 | 37.1% vacancy, down from about 40.0% in Q2 2025 | Q1 2026 |
| Katy Freeway West / Energy Corridor | Class A vacancy 17.6%, asking $31.76/SF; Class B $24.31/SF | Q2 2026 |
Submarket figures carried from the market sections of the current OMs.
Debt
Houston office originations ran about 6.28% at 75% LTV.
Related listings
- 396 Tower: Greenspoint, 189,900 SF, 7.00% cap (OM)
- Chase Bank Tower: FM 1960 / Hwy 249, 142,194 SF, 7.00% cap (OM)
- Royal Investor Tower: Energy Corridor, 59,625 SF NRA, 8.00% cap (OM)
Figures are for information only and must be verified independently.
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