Oceanfront Industrial

Oceanfront

Office Space Market Report

Number of Listings (last 90 days)
8
Median Rate ($/sqft/yr)
$33
Median Size (sqft)
2,190
As of: August 19, 2017

Oceanfront Rates

On average, listings lease in the $30's per square foot per year. The Oceanfront submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 29% decline in rent.

Compared to the rest of the Virginia Beach market, the Oceanfront submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.

Oceanfront Listing Supply

In the last 90 days, 8 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available space in the Oceanfront are subleases, so you might be able to snag a great spot on a short term. 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 2,190 sqft. Most buildings in this market are around 2 stories. Most buildings in this region were built in 1962 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 market. Commute by bike is the most popular way to get to work amongst Oceanfront folk. Commuting approximately 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