Kempsville Retail

Kempsville

Office Space Market Report

Number of Listings (last 90 days)
9
Median Rate ($/sqft/yr)
$23
Median Size (sqft)
3,690
As of: July 28, 2017

Kempsville Rates

Most listings are in the $20's per square foot per year. The Kempsville region is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decrease in rent.

Compared to the rest of the Virginia Beach market, the Kempsville submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Kempsville Listing Supply

In the last 90 days, 9 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 211% of the available space in the Kempsville are subleases, so you might be able to find a shorter term or below market rent. 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 3,690 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 2 floors. Most buildings in this region were built in 1984 and are Class B.

Kempsville Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Kempsville occupants. Commuting close to 20 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 Kempsville.
Market Report

Market Data

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