North Downtown Retail

North Downtown

Office Space Market Report

Number of Listings (last 90 days)
3
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
3,000
As of: February 26, 2017

North Downtown Rates

On average, listings lease in the $30's per square foot per year. The North Downtown region is going through a a boost in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 44% increase in rent.

North Downtown Listing Supply

In the last 90 days, 3 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 5 floors. Most buildings in this region were built in 1925 and are Class A.

North Downtown Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by car is the most popular way to get to work amongst North Downtown 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 North Downtown.
Market Report

Market Data

Real time and historical data on commercial real estate listings in North Downtown.
Research

Charlottesville Submarkets