Commercial Real Estate Market in Suffolk, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
257 active listings and 2,778 off-market properties in Suffolk, VA. Commercial property asks $27/SF to buy and $18.00/SF/Yr to lease.
Market Trends
Suffolk, VA spans 399.1 square miles in Suffolk County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Suffolk, 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 Suffolk, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
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%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Suffolk, 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
- 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
Agricultural District
Conservation District
Rural Estate District
Heavy Industrial District
Residential Low Medium Density
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.
Agricultural District (A)
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.
94,106
Population
39,556
Households
2.4
Avg Household Size
39
Median Age
32%
College-Educated
92%
High-School Grad
399.1 sq mi
ZIP Area
236
Density / Sq Mi
$90,217
Median Household Income
$50,673
Median Earnings
$1,443
Median Rent
$327,015
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Corapeake | — | — |
| Windsor | — | — |
| Carrsville | — | — |
| Gates | — | — |
Commercial property in Suffolk, VA asks $27/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Suffolk?
Commercial property in Suffolk, VA asks an average of $27 per square foot. The 4 most recent recorded sales traded at a median of $586/SF.
How much does it cost to lease commercial space in Suffolk?
Asking lease rates in Suffolk, VA average $18.00 per square foot per year.
What zoning applies to commercial property in Suffolk?
Suffolk, VA zones 275,196 acres across 24 districts, of which 1.1% is commercial and 64.8% industrial. The largest single district is Agricultural District at 58.1% of zoned land. The A (Agricultural) district provides areas for high intensity agricultural operations as well as agri-business and supportive industrial and commercial uses. Residential zoning covers 16% and open space 15.5%.
Where does Realmo's Suffolk market data come from?
Realmo compiles Suffolk, VA figures from 5 recent recorded sales, 187 active sale listings, 70 active lease listings, 2,778 tracked off-market properties, the current Suffolk zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 187 active for-sale and 70 active for-lease listings in Suffolk, 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: 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 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
