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