Little Neck Sublease

Little Neck

Office Space Market Report

Number of Listings (last 90 days)
15
Median Rate ($/sqft/yr)
$32
Median Size (sqft)
3,220
As of: March 29, 2017

Little Neck Rates

Most listings are in the $30's per square foot per year. The Little Neck region is going through a an increase in rates. In the last 3 months, the median rate went up $11 per sqft per year. That's a 53% rise in rent.

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

Little Neck Listing Supply

In the last 90 days, 15 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 7% of the available space in the Little Neck are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 3,220 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 3 stories. Most buildings in this area were built in 1995 and are Class A.

Little Neck 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 region. Most of the occupants of Little Neck work from home. 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 Little Neck.
Market Report

Market Data

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