The typical asking rate per listing is in the $20's per square foot per year. The Oceanfront submarket is going through a an increase in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 50% rise in rent.
Compared to the rest of the Virginia Beach market, the Oceanfront region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 8 listings have been listed, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 38% 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most properties in this region are approximately 2 floors. Most buildings in this market were built in 1962 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 market. Commute by bike is the most popular way to get to work amongst Oceanfront occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.