Oceanfront Office Space

Oceanfront

Office Space Market Report

Number of Listings (last 90 days)
8
Median Rate ($/sqft/yr)
$33
Median Size (sqft)
2,190
As of: July 28, 2017

Oceanfront Rates

Most listings are in the $20's per square foot per year. The Oceanfront region is experiencing a a rise in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 50% rise in rent.

Compared to the rest of the Virginia Beach market, the Oceanfront submarket has more expensive 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 posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 38% of the office spaces in the Oceanfront are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this market 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 around 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