On average, listings lease in the $20's per square foot per year. The Central Newport News submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decline in rent.
In the last 90 days, 43 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the office spaces in the Central Newport News 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,450 sqft. Most properties in this area are approximately 1 stories. Most buildings in this area were built in 1991 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by bike is the most popular way to get to work amongst Central Newport News occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.