On average, listings lease in the $10's per square foot per year. The Little Neck region is seeing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 26% decline in rent.
Compared to the rest of the Virginia Beach market, the Little Neck submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 7 listings have been made available, which means new listings most likley are leasing quickly. 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.
The standard measurement for office space in this area is around 2,160 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this region were built in 1999 and are Class A.
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. Most of the residents of Little Neck work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.