The typical asking rate per listing is in the $20's per square foot per year. The Great Neck submarket is going through a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Virginia Beach market, the Great Neck submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 8 listings have been posted online, 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 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 1,510 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Most of the occupants of Great Neck work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.