On average, listings lease in the $30's per square foot per year. The Chickahominy submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $15 per sqft per year. That's a 31% decrease in rent.
Compared to the rest of the Fairfield market, the Chickahominy region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 35 listings have been listed, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 6% of the available leases in the Chickahominy 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,100 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are approximately 3 stories. Most buildings in this area were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the folk of Chickahominy work from home. Commuting close to an hour and a half 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 Chickahominy.
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