Oceanfront Retail

Oceanfront

Office Space Market Report

Number of Listings (last 90 days)
7
Median Rate ($/sqft/yr)
$37
Median Size (sqft)
2,300
As of: January 19, 2017

Oceanfront Rates

The typical asking rate per listing is in the $30's per square foot per year. The Oceanfront region is seeing a a rise in rates. In the last 3 months, the median rate rose $22 per sqft per year. That's a 155% rise in rent.

Compared to the rest of the Virginia Beach market, the Oceanfront submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.

Oceanfront Listing Supply

In the last 90 days, 6 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the listings in the Oceanfront 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 4,500 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 3 stories. Most buildings in this market were built in 1990 and are Class A.

Oceanfront Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Oceanfront occupants. Commuting approximately an hour 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 Oceanfront.
Market Report

Market Data

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