Commercial Real Estate Market in Petersburg, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
91 active listings and 1,622 off-market properties in Petersburg, VA. Commercial property asks $58/SF to buy and $6.29/SF/Yr to lease.
Market Trends
Petersburg, VA spans 150.3 square miles in Prince George County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Petersburg, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Petersburg, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Petersburg, 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 vacancy in Petersburg, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 29.2%
- Industrial 25.6%
- Residential 17.7%
- Agricultural 7.8%
- Planned_development 3.2%
- Commercial 1.4%
- Mixed use 0.6%
Largest Zones share of zoned land by district
Single Family Residence District
No Zoning
Heavy Industrial District
Agricultural District
Single Family Residence District
Single Family Residence District (R-1)
The purpose of R-1 district is to provide for single family residential development of relatively spacious character; together with such public buildings, schools, churches, public recreational facilities and accessory uses as may be necessary or are normally compatible with residential surroundings. The district is located to protect existing development of…
Market overview
Demographics & Economy
Petersburg, VA has 73,907 residents in 30,664 households. Density runs 492 people per square mile. Median household income here is $61,855 and median gross rent $1,243 a month.
73,907
Population
30,664
Households
2.4
Avg Household Size
34
Median Age
25%
College-Educated
90%
High-School Grad
150.3 sq mi
ZIP Area
492
Density / Sq Mi
$61,855
Median Household Income
$35,380
Median Earnings
$1,243
Median Rent
$208,547
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Prince George | — | — |
| Walnut Hill | — | — |
| Colonial Heights | — | — |
| Ettrick | — | — |
Commercial property in Petersburg, VA asks $58/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Petersburg?
Commercial property in Petersburg, VA asks an average of $58 per square foot.
How much does it cost to lease commercial space in Petersburg?
Asking lease rates in Petersburg, VA average $6.29 per square foot per year.
Where does Realmo's Petersburg market data come from?
Realmo compiles Petersburg, VA figures from 3 recent recorded sales, 71 active sale listings, 20 active lease listings, 1,622 tracked off-market properties, the current Petersburg zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 71 active for-sale and 20 active for-lease listings in Petersburg, 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.
- Zoning and land use
- The current municipal zoning release: 14,727 zoned acres across 29 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 August 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 August 2026 · report a data issue
