Commercial Real Estate Market in Virginia Beach, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
443 active listings and 6,291 off-market properties in Virginia Beach, VA. Commercial property asks $318/SF to buy and $22.16/SF/Yr to lease.
Market Trends
Virginia Beach, VA spans 236.3 square miles in Virginia Beach County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Virginia Beach, VA asks $160/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail vacancy in Virginia Beach, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Virginia Beach, 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 Virginia Beach, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Virginia Beach, VA has 459,494 residents in 190,777 households. Density runs 1,944 people per square mile. Median household income here is $92,137 and median gross rent $1,670 a month.
459,494
Population
190,777
Households
2.4
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
236.3 sq mi
ZIP Area
1,944
Density / Sq Mi
$92,137
Median Household Income
$49,699
Median Earnings
$1,670
Median Rent
$382,085
Median Home Value
Tools
Lease vs Buy Breakeven
At $22.16/SF/Yr lease vs $318/SF buy → buying wins if held > 3.2 years.
At a 7% 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.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Chesapeake | — | — |
| Norfolk | — | $20.60 |
Commercial property in Virginia Beach, VA asks $318/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Virginia Beach?
Commercial property in Virginia Beach, VA asks an average of $318 per square foot. The 6 most recent recorded sales traded at a median of $367/SF. Office carries the highest asking price at $160/SF.
How much does it cost to lease commercial space in Virginia Beach?
Asking lease rates in Virginia Beach, VA average $22.16 per square foot per year.
Is it cheaper to lease or buy commercial space in Virginia Beach?
Buying beats leasing in Virginia Beach, VA if the property is held longer than 3.2 years, comparing $22.16/SF/Yr asking rent with $318/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 Virginia Beach market data come from?
Realmo compiles Virginia Beach, VA figures from 6 recent recorded sales, 218 active sale listings, 225 active lease listings, 6,291 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 218 active for-sale and 225 active for-lease listings in Virginia Beach, 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 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
