The typical asking rate per listing is in the $10's per square foot per year. The Bayside submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 43% decline in rent.
Compared to the rest of the Virginia Beach market, the Bayside region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 37 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Bayside are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,570 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this region were built in 1984 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Bayside folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.