Norfolk Retail

Norfolk

Office Space Market Report

Number of Listings (last 90 days)
59
Median Rate ($/sqft/yr)
$20
Median Size (sqft)
1,800
As of: December 10, 2016

Norfolk Rates

On average, listings lease in the $20's per square foot per year. The Norfolk region is going through a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 28% decrease in rent.

Norfolk Listing Supply

In the last 90 days, 59 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Norfolk 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 on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,800 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this area were built in 1981 and are Class A.

Norfolk Community

Market Report

Trends and status of the commercial real estate market in Norfolk.
Market Report

Market Data

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