The typical asking rate per listing is in the $40's per square foot per year. The Ballston - Virginia Square region is going through a decrease in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Washington D.C. market, the Ballston - Virginia Square submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been listed, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 14% of the listings in the Ballston - Virginia Square are subleases, so you might be able to find a shorter term or below market rent. 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 19,040 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 10 stories. Most buildings in this area were built in 1995 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Ballston - Virginia Square folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.