Office Building Loans

Office Loan Rates & Terms

Rates updated as of August 23, 2026

• Loan amounts from $1,500,000, no maximum
• Up to 75% LTV on office, up to 90% on owner-occupied office
• Purchase, refinance and cash-out
• Terms and amortizations up to 30 years
• No upfront application or processing fees
• 48-hour written pre-approvals, no cost or obligation

Rates last updated August 23, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.

Compare Your Office Loan Options

As a broker we compare every lender type and route your deal to the best fit. Typical starting points:

Life insurance company financing is also available for institutional-quality office at the lowest long-term fixed rates and conservative leverage. Most office lenders look for a debt-service-coverage ratio (DSCR) of about 1.25 to 1.35, and SBA owner-occupied financing requires your business to occupy at least 51% of the space.

Rates last updated August 23, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.

Office Properties We Finance

Select Commercial provides office building mortgages for the purchase and refinance of office property from $1,500,000. Our current office financing programs cover four main situations:

• Multi-tenant office buildings in suburban or urban locations with a minimum population of roughly 50,000 residents, whether high-rise, low-rise or within an office park. We like to see good-term leases with low tenant rollover and staggered renewals, but each situation is different and we will consider office loans that do not meet all of these criteria. Metal-constructed buildings are considered as well.
• Single-tenant, owner-occupied office buildings where the owner runs their business from the property. This is a very common loan type for us, and we specialize in self-employed borrowers whose credit or provable income does not meet typical bank standards, with up to 90% financing through SBA.
• NNN credit-tenant office on single-tenant properties with triple-net leases, including government and municipal buildings. We typically offer long-term fixed-rate loans where the term matches the current lease term.
• Un-stabilized office with expired leases or a rent roll that needs tenant improvements. Our bridge loan program makes capital available for rehab, upgrading and modification so an owner can stabilize the property and refinance into permanent financing.

Office Real Estate: 2026 Outlook

The office market has undergone significant shifts as hybrid work reshaped demand, and 2026 is defined by a selective recovery rather than a uniform one. Lenders underwrite the sustainability of occupancy and tenant health closely, so the story differs sharply by building quality and location.

Vacancy is high but the trend has turned. National vacancy stood at about 20.1% in Q2 2026 (July 2026 data), but trailing-four-quarter net absorption reached +14.3 million SF, the strongest since 2020, with seven straight quarters of improvement as return-to-office gains traction.

Leasing has recovered. Leasing activity hit a post-pandemic high in Q2 2026, up roughly 27% over the trailing 12 months, led by technology, aerospace and legal tenants. Large tenants have largely finished downsizing, footprint cuts at renewal have shrunk to low single digits.

Flight to quality is the defining trend. Tenants are trading up, not just cutting space. Leases above $100/SF reached record volume in the past year, and effective rents on new construction are growing more than 20% on a rolling 12-month basis, while older commodity space carries elevated concessions.

Supply is shrinking. Completions fell to a 14-year low with just 19.7 million SF under construction nationally (Q2 2026), and sublease space has fallen 28% from its peak to 96 million SF. Office-to-residential conversions keep pulling obsolete space off the market, supporting the buildings that remain.

What it means for financing. Lenders favor office with strong tenant profiles, stable cash flow and good location. Owner-occupied office (up to 90% via SBA) and single-tenant credit-tenant leases remain the most financeable, while value-add repositioning is best matched to a bridge loan with a stabilize-and-refinance plan.

Strongest Office Markets in 2026

The office recovery is selective, and a handful of metros are pulling away from the pack. Current market data (April to June 2026) shows where fundamentals are strongest, with each metro linked to our local financing page:

• Manhattan: the standout. Vacancy fell 300 basis points year over year to 13.1% (April 2026), asking rents lead the nation at about $72/SF, and $4.3 billion of office sales through June was the highest in the country at an average $712/SF.
• Miami: the tightest major market at 12.5% vacancy (April 2026), with asking rents above $61/SF as finance and legal tenants keep expanding.
• San Francisco: an AI-driven rebound, with rents recovering above $65/SF and $2.4 billion in year-to-date sales as tech leasing returns.
• Los Angeles: among the lowest big-market vacancies at 14.4% (June 2026), well below the 17.6% national average.
• Dallas: $2.6 billion in year-to-date sales, second nationally, plus 2.9 million SF under construction on the strength of corporate relocations.
• Boston: the largest development pipeline in the country at 3.4 million SF, anchored by lab and life-science demand.
• Phoenix, Minneapolis and Chicago: vacancy in the 16% to 18% range, all beating or tracking the national average as absorption improves.

We finance office buildings in every market nationwide. Compare today’s commercial mortgage rates or find your city’s page for local detail.