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On average, commerial real estate listings lease in the $10's per square foot per year. The Shockoe Slip region is going through a decline in rates. In the last 3 months, the median rate for lease decreased $4 per sqft per year.
Compared to the rest of the Richmond commercial real estate market, the Shockoe Slip region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 31 commercial real estate listings have come on the market, which means listings might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 1,000 sqft. Most properties in this region are close to 3 stories. Most buildings in this region were built approximately 1890 and are Class B.
A large portion of this market 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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