Most listings are in the $20's per square foot per year. The Downtown Norfolk submarket is going through a a rise in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 9% increase in rent.
In the last 90 days, 19 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 3,280 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 9 floors. Most buildings in this area were built in 1981 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this area. Most of the residents of Downtown Norfolk work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.