Most listings are in the $20's per square foot per year. The Downtown Richmond submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Richmond market, the Downtown Richmond submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 29 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this region are around 3 stories. Most buildings in this area 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 market. Most of the residents 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.