Richmond, VA Retail Space for Lease
Search 134 retail listing(s) in Richmond, VA and find helpful local stats in the Market Overview section below.
Rent costs for this type of commercial space depend on a variety of factors. The foremost of these is location, which will dictate how accessible a business is and how much foot traffic it gets. Other factors, such as space type and lease structure, also come into play. On average, retail space for lease in Richmond asks $19.92 per square foot.
The most common type of lease agreement you’ll find here is NNN, with 36 space(s) available under this type of arrangement. The local market is also home to 3 retail space(s) offered under a Modified Gross lease agreement type, and 3 Full Service listing(s).
The average size for this type of rental opportunity in Richmond is 1,000 sqft to 2,500 sqft. Currently, the local market offers 94 listing(s) within that size range. You can also search 81 listing(s) in the 2,500 sqft to 5,000 sqft range. It should be noted that spaces in this real estate category are generally specialized to cater to the needs of a particular business, so the average sizes of different retail space types can vary greatly.
Retail space in Richmond comes in all types, shapes, and sizes, so you have a good chance to find the right space for your business. The most common type here is listed as Restaurant and you can find 10 such space(s) available.
Restaurant spaces listed for rent here have an average size of 3,595 square feet. Retail space specialized for restaurants usually includes ample seating areas and enough room for the safe preparation of food. Restaurant spaces may be embedded in a larger mall or can be freestanding buildings.
The local market is also home to 6 space(s) listed as Street Retail. The average size you can expect to find for this category is 1,854 square feet. You’ll find street retail spaces are mostly located in urban and suburban areas that have high foot traffic. This type of space is often a great choice for smaller retailers that are looking for well-positioned points of sale.
What’s more, you can find 2 listing(s) in the Freestanding category, currently available in the average size of 3,111 square feet. Freestanding retail spaces or buildings are a great choice for businesses that need more room to carry out their day-to-day operations and want to stand out. Being located on their own lot and generally featuring more generous showroom and storage space than other such space types, freestanding retail offers tenants the leeway to build the experience they want.
Restaurant
10
Street Retail
6
Freestanding
2
Restaurant
3,595 sq. ft.
Street Retail
1,854 sq. ft.
Freestanding
3,111 sq. ft.
However, besides these popular subtypes, the market has a lot to offer for entrepreneurs looking for the right space to promote their business and get their goods to customers.
In general, the most successful retail businesses are located within relatively close proximity of each other, which leads to some neighborhoods becoming famous shopping destinations. Even in the case of suburban strip malls, the simple fact that so many different products can be purchased under the same roof can encourage customers to spend more.
Belt Center is your top choice for lease opportunities, as it is currently home to the highest number of listings — 26 retail space(s).
Richmond’s second most popular area is Heritage Commons - Country Place, where you can find 14 retail listing(s). The most likely type of space you can rent here is Freestanding. If this is the kind of property you are looking for, you will find 1 listing(s) available here.
Jefferson Gardens is also among the best areas to search for your next commercial space. Here you can find 13 retail space(s) available for consideration by prospective tenants.
Belt Center
26
Heritage Commons - Country Place
14
Jefferson Gardens
13
Dickensdale
12
Southport
11
When you’re looking to give your business a storefront, there are a lot of decisions to be made. The first choice is, of course, location. You’ll have to decide whether your business would operate better in the heart of the city or if it is more likely to thrive in a suburban setting.
Data based on retail spaces listed for rent on CommercialSearch.com
Pacific Retail Capital Partners will manage the property going forward.
The retailer is also the property’s anchor tenant.
This property traded for $7 million less than five years ago.
A Colliers team brokered the transaction.
The new owner plans to upgrade the asset.
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