Commercial Real Estate Market in Suffolk, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
92 active listings and 2,778 off-market properties in Suffolk, VA. Commercial property asks $111/SF to buy and $11.00/SF/Yr to lease (based on 5 listings).
Market Trends
Suffolk, VA spans 399.1 square miles in Suffolk County, Virginia. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Suffolk, VA has a median asking sale price of $238/SF (based on 4 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Suffolk, VA has a median asking sale price of $564/SF (based on 4 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Suffolk, 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 vacancy in Suffolk, VA 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
- Industrial 64.8%
- Residential 16%
- Open space 15.5%
- Planned_development 1.2%
- Civic 1.1%
- Commercial 1.1%
- Mixed use 0.2%
Largest Zones share of zoned land by district
Suffolk, VA zones 275,196 acres across 24 districts. Commercial zoning covers 1.1% of zoned land, residential 16%, open space 15.5% and industrial 64.8%. The largest single district is Agricultural District at 58.1%. For commercial buyers the practical constraint is that only 65.9% of land carries a commercial or industrial designation.
The A (Agricultural) district provides areas for high intensity agricultural operations as well as agri-business and supportive industrial and commercial uses.
Market overview
Demographics & Economy
Suffolk, VA has 94,106 residents in 39,556 households. Density runs 236 people per square mile. Median household income here is $90,217 and median gross rent $1,443 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Portsmouth | $141 | $21.00 |
| Franklin | $76 | $12.00 |
Commercial property in Suffolk, VA asks $111/SF. The 2 bordering markets run from $76/SF in Franklin to $141/SF in Portsmouth, and the city sits above their $109/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Suffolk?
How much does it cost to lease commercial space in Suffolk?
How does Suffolk compare to nearby markets on price?
What zoning applies to commercial property in Suffolk?
Where does Realmo's Suffolk market data come from?
Methodology & data sources
- Asking prices and medians
- There are 38 active for-sale and 54 active for-lease listings in Suffolk, VA. The medians are based on 13 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: 275,196 zoned acres across 24 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
