Downtown Norfolk Industrial

Downtown Norfolk

Market Report

Number of Listings
Posted in the last 90 days
8
Median Rate ($/sqft/yr)
$25
Median Size (sqft)
2,780

Downtown Norfolk Rates

On average, listings lease in the $20's per square foot per year. The Downtown Norfolk region is seeing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% rise in rent.

Downtown Norfolk Listing Supply

In the last 90 days, 259 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the listings in the Downtown Norfolk are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

Even though the median size is 2,780 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 8 floors. Most buildings in this market were built in 1976 and are Class A.

Downtown Norfolk Community

A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. Most of the occupants of Downtown Norfolk work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Downtown Norfolk.
Research