Ontario

Ottawa Office Market Report 2025 — Prices, Cap Rates & Trends

In the Ottawa office market, the median recorded sale price is $4,700,000, across 197 recorded transactions, between 2021-09-07 to 2025-12-29.

Analyze a deal

$4.7M

Median sale price

197

Recorded transactions

74.4%

YoY change in median

Price distribution

Where Ottawa office sale prices sat across 197 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for Ottawa office.

Recorded transaction volume by year

Year	Recorded transactions
2021	9
2022	61
2023	40
2024	43
2025	44

This market vs. Ontario overall

Metric	Ottawa	Ontario
Median sale price	$4,700,000	$2,194,500
25th percentile	$1,880,000	$1,325,000
75th percentile	$11,535,000	$4,750,000
Recorded transactions	197	29,749
Year-over-year change	+74.4%	-5.5%

Asset classes in Ottawa

Asset class	Median price	Transactions
Industrial	$3.4M	163
Land	$3.5M	166
Multifamily	$2.1M	467
Office	$4.7M	197
Other	$2.5M	310
Retail	$2.6M	199

Office across Ontario markets

Market	Median price	Transactions
Barrie	$2.5M	33
Belleville	$1.9M	13
Brantford	$2M	18
Greater Sudbury	$2M	20
Guelph	$2M	37
Hamilton	$2M	120
Kingston	$1.9M	25
Kitchener-Cambridge-Waterloo	$2.5M	118
London	$2.4M	71
Oshawa	$1.6M	44
Ottawa	$4.7M	197
Peterborough	$1.3M	13
St. Catharines-Niagara	$1.7M	42
Thunder Bay	$1.4M	23
Toronto	$2.5M	772
Windsor	$2M	50

Rental market context

The CMHC Rental Market Survey reports a 3.8% purpose-built rental vacancy rate for Ottawa-Gatineau (Qué. part) (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	Ottawa, ON	$1.5M–$2.0M	Office
2025-12	Gloucester, ON	$6.0M–$7.0M	Office
2025-12	Nepean, ON	$3.0M–$3.5M	Office

Municipality, month and price band only.

Common questions

What is the median office sale price in Ottawa?

$4,700,000, across 197 recorded transactions in our dataset.

Are Ottawa office prices rising or falling?

The median recorded sale price changed +74.4% year over year in the most recent full comparison.

Methodology

This page draws on 197 recorded commercial transactions in Ottawa between 2021-09-07 and 2025-12-29, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.