Downtown Richmond Office Space

Downtown Richmond

Market Report

Number of Listings
Posted in the last 90 days
28
Median Rate ($/sqft/yr)
$32
Median Size (sqft)
3,890

Downtown Richmond Rates

Most listings are in the $30's per square foot per year. The Downtown Richmond submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $9 per sqft per year. That's a 40% rise in rent.

Compared to the rest of the Richmond market, the Downtown Richmond submarket has higher rates, and you'll need to pay a premium to be in this hot region.

Downtown Richmond Listing Supply

In the last 90 days, 393 listings have been made available, so you'll want to check back regularly for new listings. About 7% of the listings in the Downtown Richmond are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 3,890 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 3 floors. Most buildings in this region were built in 1952 and are Class A.

Downtown Richmond Community

A large portion of this area is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Most of the folk 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.

Market Data

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