Cap Rates
CBRE
Downtown Office
A
B
Suburban Office
A
B
Industrial
A
6.50% – 7.00%
B
7.00% – 7.50%
Retail
Regional
7.50% – 8.50%
Power
6.75% – 7.50%
Neighbourhood
7.00% – 8.00%
Strip
7.00% – 8.00%
Strip (non anchored)
7.25% – 8.25%
Urban Street front
7.25% – 7.75%
Hotel
Downtown full service
7.50% -9.00%
Suburban limited service
9.00% -10.00%
Focused service
8.50% – 9.50%
CANADIAN CAP RATES & INVESTMENT INSIGHTS – Q3 2025, CBRE
Colliers
Downtown Office
A
N/A
B
N/A
Suburban Office
A
N/A
B
N/A
Industrial
A
7.00% – 7.75%
B
7.50% – 8.25%
Apartment
High rise
4.75% – 5.50%
Low rise
5.00% – 6.25%
Retail
Regional/Power
N/A
Community
N/A
Strip Mall (non anchored)
N/A
Hotel
Urban full service
N/A
Select service
N/A
Limited service
N/A
CAP RATE REPORT – Q3 2025, COLLIERS INTERNATIONAL
7.00% – 8.00%
8.00% – 8.75%
7.00% – 8.00%
7.75% – 8.75%