Commercial Real Estate Market in Petersburg, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
56 active listings and 1,622 off-market properties in Petersburg, VA. Commercial property asks $122/SF to buy and $12.00/SF/Yr to lease (based on 5 listings).
Market Trends
Petersburg, VA spans 150.3 square miles in Prince George County, Virginia. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Petersburg, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Petersburg, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
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%.
Multifamily
Multifamily space in Petersburg, VA has a median asking sale price of $122/SF. 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
- 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
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Petersburg?
How much does it cost to lease commercial space in Petersburg?
Where does Realmo's Petersburg market data come from?
Methodology & data sources
- Asking prices and medians
- There are 32 active for-sale and 24 active for-lease listings in Petersburg, VA. The medians are based on 16 of the for-sale and 5 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: 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 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
