Monroe Ward Office Space

Monroe Ward

Office Space Market Report

Number of Listings (last 90 days)
9
Median Rate ($/sqft/yr)
$22
Median Size (sqft)
24,000
As of: July 19, 2017

Monroe Ward Rates

Most listings are in the $20's per square foot per year. The Monroe Ward submarket is going through a a boost in rates. In the last 3 months, the median rate rose $22 per sqft per year.

Compared to the rest of the Richmond market, the Monroe Ward submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Monroe Ward Listing Supply

In the last 90 days, 9 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the listings in the Monroe Ward 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 available, so finding a space for a small business might be tough.

Even though the median size is 24,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this area were built in 1901 and are Class B.

Monroe Ward Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Monroe Ward residents. Commuting between 30 and 45 minutes 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 Monroe Ward.
Market Report

Market Data

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