The typical asking rate per listing is in the $50's per square foot per year. The Ballston - Virginia Square submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 29% increase in rent.
Compared to the rest of the Washington D.C. market, the Ballston - Virginia Square submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have been listed, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 275% of the available leases in the Ballston - Virginia Square are subleases, so you might be able to snag a great spot on a short term. 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 24,150 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 10 stories. Most buildings in this market were built in 1995 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Ballston - Virginia Square folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.