Harbor CommonsRate on request
Richmond Commercial Real Estate Market
Richmond CRE market data: 90 buildings, 29,098,300 SF of inventory, Industrial vacancy 13.3% and average asking rent $10.23/SF. Browse 90 live listings.
90Buildings tracked
29,098,300 SFInventory
6,321,682Population
1.2%Employment growth
90Live listings
10Submarkets
Richmond fundamentals by property type
| Property type | Buildings | Inventory SF | Vacancy | Avg asking rent | Rent YoY | Avg cap rate | Avg $/SF |
|---|---|---|---|---|---|---|---|
| Industrial | 12 | 9,952,200 | 13.3% | $10.23 | 1.3% | 5.41% | $404 |
| Office | 34 | 9,436,200 | 29.1% | $24.23 | 3.1% | 6.97% | $439 |
| Multi-Family | 23 | 8,017,900 | 6.0% | $22.35 | -0.7% | 5.51% | $246 |
| Retail | 8 | 764,600 | 13.4% | $38.15 | 2.9% | 6.61% | $244 |
| Flex | 6 | 725,400 | 5.0% | $16.67 | 3.2% | 7.57% | $342 |
| Medical | 1 | 25,200 | 15.5% | $27.41 | 3.7% | 5.82% | $207 |
Vacancy, asking rent and cap-rate series are maintained per market and property type and re-cut nightly. Full 12-quarter history, absorption and construction pipeline are in the RealStar.
Featured Richmond listings
2210 Bremo Rd$15.85 – $19.29/SF/yr NNN
2510 Staples Mill RdRate on request
305 W Broad St$20.56 – $25.03/SF/yr FS
1790 E Main StRate on request
Summit Plaza$9.95 – $12.11/SF/yr NNN
110 Midlothian TpkeRate on request
775 Cox RdRate on request
251 Jefferson Davis Hwy$39.42 – $47.99/SF/yr NNN
97 W Broad St$17.10 – $20.82/SF/yr NNN
Frontier Building$17.77 – $21.63/SF/yr NNN
Century Gateway$34.98 – $42.58/SF/yr NNN
90 commercial properties are tracked in Richmond, representing 29,098,300 SF of rentable building area, of which 4,712,000 SF is currently marketed as available.
Asking rents average $25.07 per square foot per year, the median marketed suite is 20,000 SF, and listings have been on market a median of 425 days.
The stock splits 34 Class A, 35 Class B, 21 Class C, with construction dates from 1906 to 2024 (median 1971).
The most concentrated submarkets are Chesterfield (14), Scott's Addition (11), Midlothian (10), Shockoe Slip (10), Richmond CBD (9).
Richmond cities
Richmond submarkets
ChesterfieldInnsbrookMechanicsvilleMidlothianRichmond CBDScott's AdditionShockoe SlipShort PumpSouthsideWest End
Richmond space by property type
Office for lease in RichmondOffice for lease in ChesterOffice for lease in MidlothianOffice for lease in Glen AllenIndustrial for lease in RichmondIndustrial for lease in ChesterIndustrial for lease in MidlothianIndustrial for lease in Glen AllenRetail for lease in RichmondRetail for lease in MidlothianRetail for lease in Glen AllenMulti-Family for lease in RichmondMulti-Family for lease in ChesterMulti-Family for lease in MidlothianMulti-Family for lease in Glen AllenFlex for lease in RichmondFlex for lease in ChesterMedical for lease in Richmond
Nearby markets
New York CityDallas-Fort WorthAustinWashington DCHoustonSan AntonioNorthern New JerseyEl PasoBeaumontLaredoMidland-OdessaCorpus ChristiWaco-TempleRio Grande Valley
Market fundamentals are RealStarGlobal analytics derived from tracked inventory. Transaction and news signals come from the Acquirepad CRE feed. Registry, assessor and GIS provenance for every jurisdiction is documented in the data sourcing plan.
Frequently asked questions
How large is the Richmond commercial real estate market?
RealStarGlobal tracks 90 buildings totalling 29,098,300 SF across 6 property types in Richmond.
What is the vacancy rate in Richmond?
Industrial 13.3%; Office 29.1%; Multi-Family 6.0%; Retail 13.4%; Flex 5.0%; Medical 15.5%.
What are asking rents in Richmond?
Industrial $10.23/SF/yr (1.3% YoY); Office $24.23/SF/yr (3.1% YoY); Multi-Family $22.35/SF/yr (-0.7% YoY); Retail $38.15/SF/yr (2.9% YoY); Flex $16.67/SF/yr (3.2% YoY); Medical $27.41/SF/yr (3.7% YoY).
What cap rates are assets trading at in Richmond?
Industrial 5.41% at $404/SF; Office 6.97% at $439/SF; Multi-Family 5.51% at $246/SF; Retail 6.61% at $244/SF; Flex 7.57% at $342/SF; Medical 5.82% at $207/SF.
What are the submarkets of Richmond?
Chesterfield, Innsbrook, Mechanicsville, Midlothian, Richmond CBD, Scott's Addition, Shockoe Slip, Short Pump, Southside, West End.
How many people live in the Richmond market?
The Richmond market has a population of 6,321,682 with employment growth of 1.2% year over year.
How do I get Richmond lease and sale comparables?
Lease comps, sale comps, tenant rosters, loan maturities and owner records for Richmond are in the RealStar, and available programmatically through the MCP server.