Downtown Norfolk Retail Space

Downtown Norfolk

Market Report

Number of Listings
Posted in the last 90 days
21
Median Rate ($/sqft/yr)
$22
Median Size (sqft)
2,120

Downtown Norfolk Rates

Most listings are in the $20's per square foot per year. The Downtown Norfolk region is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 8% decline in rent.

Downtown Norfolk Listing Supply

In the last 90 days, 259 listings have been posted online, so you'll want to check back regularly for new listings. About 9% of the available leases in the Downtown Norfolk 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 on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,120 sqft. Most buildings in this area are around 8 floors. Most buildings in this area were built in 1976 and are Class A.

Downtown Norfolk Community

A large portion of this region is residential, but there's plenty of office_space. Utilities is the dominant industry in this area. Most of the occupants of Downtown Norfolk work from home. Commuting under 5 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 Norfolk.
Research