Most listings are in the $20's per square foot per year. The Shockoe Slip submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 16% decrease in rent.
Compared to the rest of the Richmond market, the Shockoe Slip submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 31 listings have been listed, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 10% of the available space in the Shockoe Slip are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,630 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this region were built in 1890 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst Shockoe Slip residents. 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 Shockoe Slip.
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