On average, listings lease in the $10's per square foot per year. The Kempsville submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 19% decline in rent.
Compared to the rest of the Virginia Beach market, the Kempsville region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 8 listings have been listed, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,320 sqft. Most properties in this market are approximately 2 floors. Most buildings in this market were built in 1983 and are Class B.
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 market. Commute by bike is the most popular way to get to work amongst Kempsville folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.