The typical asking rate per listing is in the $20's per square foot per year. The Little Neck submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 38% increase in rent.
Compared to the rest of the Virginia Beach market, the Little Neck region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 16 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 6% of the office spaces in the Little Neck are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,220 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 3 floors. Most buildings in this area were built in 1995 and are Class A.
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. Most of the folk of Little Neck work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.