On average, listings lease in the $20's per square foot per year. The The Fan region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Richmond market, the The Fan region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 3 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,780 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this area were built in 1938 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by car is the most popular way to get to work amongst The Fan folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.