Commercial Real Estate Market in Virginia
Virginia has 4,801 active for-sale listings and 4,054 active for-lease listings. Statewide, the median asking price is $248/SF and the median asking rent is $19.50/SF/Yr as of November 2026. Realmo tracks 94 city markets here; among the 48 with enough listings to rank, median asking prices range from $87/SF in Wytheville to $444/SF in Arlington.
- Median asking price
- $248/SF
- Median asking rent
- $19.50/SF/Yr
- For-sale listings
- 4,801
- For-lease listings
- 4,054
- City markets
- 94
Highest- and Lowest-Priced Markets
Asking prices vary across Virginia: the median in Arlington is $444/SF, 5.1x the $87/SF median in Wytheville. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Arlington at $444/SF, Mc Lean at $398/SF and Vienna at $389/SF. The lowest median asking prices are in Wytheville at $87/SF, Marion at $103/SF and Suffolk at $110/SF. 20 of 48 ranked markets have median asking prices above the statewide $248/SF.
Asking Rents
The highest median asking rents are in Arlington at $42.00/SF/Yr, Mc Lean at $33.33/SF/Yr and Alexandria at $29.00/SF/Yr. The lowest median asking rents are in Roanoke at $14.00/SF/Yr, Winchester at $15.00/SF/Yr and King George at $15.95/SF/Yr. 14 of 22 ranked markets have median asking rents above the statewide $19.50/SF/Yr.
Virginia vs. Neighboring States
The median asking price in Virginia is $248/SF, above the $161/SF median of its 6 neighboring states. By median asking price, the state ranks 2nd of 7 in the group; Washington, DC is highest at $424/SF and West Virginia lowest at $80/SF. The median asking rent is $19.50/SF/Yr, compared with $19.87/SF/Yr in North Carolina, $18.38/SF/Yr in Maryland and $18.00/SF/Yr in Tennessee next door. The statewide median asking price is above the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Virginia | $248 | $19.50 | 4,801 | 4,054 |
| Kentucky | $123 | $16.12 | 3,076 | 2,020 |
| Maryland | $197 | $18.38 | 4,214 | 3,968 |
| North Carolina | $179 | $19.87 | 5,128 | 3,501 |
| Tennessee | $142 | $18.00 | 3,658 | 2,259 |
| Washington, DC | $424 | $35.00 | 1,842 | 1,107 |
| West Virginia | $80 | $15.51 | 981 | 200 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Virginia
Realmo tracks 94 city markets in Virginia; the 40 with the most active listings are listed below. Richmond leads with 620 active listings, followed by Alexandria and Arlington.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Richmond | 620 | $236 | $17.50 |
| Alexandria | 574 | $356 | $29.00 |
| Arlington | 497 | $444 | $42.00 |
| Virginia Beach | 310 | $255 | $19.00 |
| Norfolk | 282 | $176 | $17.60 |
| Fairfax | 274 | $337 | $22.75 |
| Roanoke | 261 | $131 | $14.00 |
| Manassas | 230 | $251 | $20.00 |
| Reston | 230 | $328 | $29.00 |
| Falls Church | 228 | $330 | $25.00 |
| Fredericksburg | 200 | $279 | $20.00 |
| Mc Lean | 174 | $398 | $33.33 |
| Newport News | 173 | $151 | $17.00 |
| Winchester | 168 | $180 | $15.00 |
| Chesapeake | 152 | $166 | $16.00 |
| Charlottesville | 136 | — | — |
| Harrisonburg | 131 | $159 | — |
| Herndon | 128 | $316 | $24.42 |
| Sterling | 124 | $300 | $20.50 |
| Annandale | 111 | $313 | — |
| Hampton | 106 | $133 | — |
| Staunton | 105 | $143 | — |
| Springfield | 104 | $245 | $22.75 |
| Leesburg | 101 | $355 | $29.00 |
| Portsmouth | 101 | $133 | — |
| Vienna | 100 | $389 | $25.85 |
| Woodbridge | 96 | $272 | — |
| Suffolk | 92 | $110 | — |
| Ashburn | 78 | $358 | — |
| Waynesboro | 70 | $120 | — |
| Chantilly | 69 | $301 | $21.23 |
| Warrenton | 68 | $247 | — |
| Petersburg | 63 | $132 | — |
| Bristol | 58 | $207 | — |
| Salem | 54 | — | — |
| Front Royal | 47 | $186 | — |
| Oakton | 46 | $317 | — |
| Ashland | 43 | — | — |
| Abingdon | 41 | $187 | — |
| King George | 41 | — | $15.95 |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Virginia?
How much does it cost to lease commercial space in Virginia?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Virginia compare with neighboring states?
Which markets in Virginia have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 4,801 active for-sale and 4,054 active for-lease listings across Virginia in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 2,562 for-sale and 757 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
