Most listings are in the $30's per square foot per year. The Nansemond submarket is going through a an increase in rates. In the last 3 months, the median rate increased $11 per sqft per year. That's a 53% increase in rent.
In the last 90 days, 4 listings have been made available, which means leases might be going fast. 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.
Even though the median size is 4,950 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this market were built in 2001 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Nansemond residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.