The typical asking rate per listing is in the $20's per square foot per year. The Downtown Richmond submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% 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 depreciated region.
In the last 90 days, 39 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the available space 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,600 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this region were built in 1964 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 area. 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.