The typical asking rate per listing is in the $20's per square foot per year. The Little Neck submarket is seeing a decline in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 28% decrease in rent.
Compared to the rest of the Virginia Beach market, the Little Neck submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 68 listings have been posted online, so you'll want to check back regularly for new listings. About 15% of the available leases in the Little Neck are subleases, so you might be able to snag a great spot on a short term. 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 4,900 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 3 floors. Most buildings in this region were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the folk of Little Neck work from home. Commuting around an hour 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 Little Neck.
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