Commercial Real Estate Market in North Chesterfield, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
743 active listings and 11,523 off-market properties in North Chesterfield, VA. Commercial property asks $134/SF to buy and $16.06/SF/Yr to lease.
Market Trends
North Chesterfield, VA spans 98.5 square miles in Richmond City County, Virginia. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in North Chesterfield, VA asks $12.98/SF/Yr to lease. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in South region
Retail
Retail vacancy in North Chesterfield, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in North Chesterfield, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in North Chesterfield, VA asks $248/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Market overview
Demographics & Economy
North Chesterfield, VA has 213,434 residents in 93,587 households. Density runs 2,166 people per square mile. Median household income here is $72,188 and median gross rent $1,423 a month.
213,434
Population
93,587
Households
2.3
Avg Household Size
37
Median Age
32%
College-Educated
86%
High-School Grad
98.5 sq mi
ZIP Area
2,166
Density / Sq Mi
$72,188
Median Household Income
$44,134
Median Earnings
$1,423
Median Rent
$262,634
Median Home Value
Tools
Lease vs Buy Breakeven
At $16.06/SF/Yr lease vs $134/SF buy → buying wins if held > 1 years.
At a 12% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the average price per square foot for commercial property in North Chesterfield?
Commercial property in North Chesterfield, VA asks an average of $134 per square foot. The 8 most recent recorded sales traded at a median of $220/SF. Multifamily carries the highest asking price at $248/SF.
How much does it cost to lease commercial space in North Chesterfield?
Asking lease rates in North Chesterfield, VA average $16.06 per square foot per year. Office asks $12.98/SF/Yr as of Q2 26, down from $15.31/SF/Yr in Q1 26.
Is it cheaper to lease or buy commercial space in North Chesterfield?
Buying beats leasing in North Chesterfield, VA if the property is held longer than 1.0 years, comparing $16.06/SF/Yr asking rent with $134/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's North Chesterfield market data come from?
Realmo compiles North Chesterfield, VA figures from 8 recent recorded sales, 353 active sale listings, 390 active lease listings, 11,523 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 353 active for-sale and 390 active for-lease listings in North Chesterfield, VA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 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 30 September 2026 · How Realmo checks market page data · Report a data issue
