Oceanfront Industrial

Oceanfront

Office Space Market Report

Number of Listings (last 90 days)
8
Median Rate ($/sqft/yr)
$16
Median Size (sqft)
1,260
As of: June 24, 2017

Oceanfront Rates

On average, listings lease in the $10's per square foot per year. The Oceanfront region is experiencing a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year.

Compared to the rest of the Virginia Beach market, the Oceanfront region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.

Oceanfront Listing Supply

In the last 90 days, 8 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 13% of the office spaces in the Oceanfront are subleases, so you might be able to find a shorter term or below market rent. 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 1,260 sqft. Most properties in this market are close to 2 stories. Most buildings in this region were built in 1940 and are Class A.

Oceanfront Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Oceanfront occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Oceanfront.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Oceanfront.
Research