Commercial Real Estate Market in Chesapeake, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
163 active listings and 4,236 off-market properties in Chesapeake, VA. Commercial property asks $203/SF to buy and $17.25/SF/Yr to lease.
Market Trends
Chesapeake, VA spans 338.5 square miles in Chesapeake County, Virginia. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Chesapeake, VA has a median asking sale price of $207/SF (based on 3 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Chesapeake, VA has a median asking sale price of $117/SF (based on 4 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Chesapeake, VA has a median asking sale price of $166/SF (based on 3 listings). Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Chesapeake, VA has a median asking sale price of $211/SF (based on 3 listings). Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 46.3%
- Open space 23.8%
- Residential 18.4%
- Industrial 4.7%
- Planned_development 4.2%
- Commercial 1.5%
- Civic 1%
- Mixed use 0%
Largest Zones share of zoned land by district
This district is created primarily for the protection of the agricultural industry and rural sections of the city from the invasion of urban and suburban uses and to preserve the agriculture and forest lands required for the health, safety and welfare of the community.
Market overview
Demographics & Economy
Chesapeake, VA has 249,734 residents in 96,111 households. Density runs 738 people per square mile. Median household income here is $99,368 and median gross rent $1,603 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Norfolk | $171 | $17.60 |
| Portsmouth | $141 | $21.00 |
| Virginia Beach | $247 | $19.00 |
Commercial property in Chesapeake, VA asks $203/SF. The 3 bordering markets run from $141/SF in Portsmouth to $247/SF in Virginia Beach, and the city sits above their $171/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Chesapeake?
How much does it cost to lease commercial space in Chesapeake?
How does Chesapeake compare to nearby markets on price?
Where does Realmo's Chesapeake market data come from?
Methodology & data sources
- Asking prices and medians
- There are 42 active for-sale and 121 active for-lease listings in Chesapeake, VA. The medians are based on 14 of the for-sale and 18 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 224,847 zoned acres across 34 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
