On average, listings lease in the $10's per square foot per year. The Downtown Richmond submarket is going through a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 15% decrease in rent.
Compared to the rest of the Richmond market, the Downtown Richmond submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 39 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available leases in the Downtown Richmond are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,740 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 3 stories. Most buildings in this region were built in 1952 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Most of the folk of Downtown Richmond work from home. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.