The typical asking rate per listing is in the $10's per square foot per year. The Downtown Norfolk region is going through a decline in rates. In the last 3 months, the median rate decreased $14 per sqft per year. That's a 42% decrease in rent.
In the last 90 days, 35 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available leases in the Downtown Norfolk are subleases, so you will probably have to consider a longer term lease. 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 1,710 sqft. Most properties in this market are around 9 stories. Most buildings in this region were built in 1976 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. Most of the occupants of Downtown Norfolk work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.