On average, listings lease in the $30's per square foot per year. The Downtown Richmond submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 40% rise in rent.
Compared to the rest of the Richmond market, the Downtown Richmond region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 393 listings have been made available, so you'll want to check back regularly for new listings. About 6% of the available leases in the Downtown Richmond are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,770 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are approximately 3 floors. Most buildings in this region were built in 1953 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Most of the occupants of Downtown Richmond work from home. Commuting between 20 and 25 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 Richmond.
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