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971 Commercial Real Estate Listings in Richmond, VA

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Richmond, VA Commercial Real Estate

There are currently 960 commercial listings available in Richmond, VA. These listings include 646 commercial spaces that encompass a total of 5,238,160 square feet. Available commercial spaces in Richmond, VA range in size from 0 square feet to 321,470 square feet. A total of 541 off-market commercial properties located in Richmond, VA are also available for research.

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Richmond, VA Commercial Inventory Breakdown

In 2022 the Richmond, VA commercial real estate market totaled 24,958,848 square feet of office spaces, 10,825,411 square feet of office spaces with retail, and 33,414,717 square feet of industrial space.

Office Spaces

Total: 24,958,848 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail
By square footage range:
50k to 100k SqFt 5,068,394 SqFt 20.31% of total office
100k to 500k SqFt 16,007,652 SqFt 64.14% of total office
500k to 1M SqFt 3,882,802 SqFt 15.56% of total office
By class:
Class A 12,703,413 SqFt 50.9% of total office
Class B 9,445,321 SqFt 37.84% of total office
Class C 724,679 SqFt 2.9% of total office
Roughly 15.56% of the total office space in Richmond, VA is comprised of properties between 500K to 1M square feet, and buildings between 50k to 100k square feet represent 20.31% of the office inventory.

Class A office space holds a 50.9% share of the overall Richmond, VA office market, while Class B office assets make up approximately 37.84%.

Industrial

Total: 33,414,717 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 6,564,512 SqFt 19.65% of total industrial
100k to 500k SqFt 19,336,464 SqFt 57.87% of total industrial
500k to 1M SqFt 3,713,741 SqFt 11.11% of total industrial
> 1M SqFt 3,800,000 SqFt 11.37% of total industrial
By class:
Class A 8,507,669 SqFt 25.46% of total industrial
Class B 21,531,016 SqFt 64.44% of total industrial
Class C 1,974,032 SqFt 5.91% of total industrial
There are 19,336,464 square feet of commercial real estate properties between 100k to 500k square feet, representing 57.87% of the Richmond, VA industrial inventory. Class A assets total 8,507,669 square feet of industrial space, with an additional 21,531,016 square feet of Class B and 1,974,032 square feet of Class C properties.

Office Spaces with Retail

Total: 10,825,411 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 2,402,600 SqFt 22.19% of total office with retail
100k to 500k SqFt 7,403,618 SqFt 68.39% of total office with retail
> 1M SqFt 1,019,193 SqFt 9.41% of total office with retail

Richmond, VA Currently Available Listings & Spaces

Number of Available Listings
City Property Type Count of listings Total SF
Richmond, VA Office 196 2,554,901
Richmond, VA Retail 127 1,274,866
Richmond, VA Industrial 43 1,333,338
Richmond, VA Other 438 5,229,273
Ofice Icon

196

Office

Industrial Icon

43

Industrial

Retail Icon

127

Retail

Current local active listing encompass 10,392,379 square feet of commercial space for lease in Richmond. There are 196 active office listings, which amount to 2,554,901 square feet and account for 24% of commercial spaces on the market. Local retail availability includes 1,274,866 square feet across 127 listings. Current industrial offerings on the market amount to 1,333,338 square feet across a total of 43.

Employment in Richmond, VA

Employed Population 125,173

Employed population - Industry % Distribution

Management, business, science, and arts occupations

42%

Service occupations

21%

Sales and office occupations

19%

Production, transportation, and material moving occupations

12%

Natural resources, construction, and maintenance occupations

7%

In 2020, roughly 42% of a total of 125,173 employed in Richmond worked in Management, business, science, and arts occupations, followed by 21% in Service occupations and 19% in Sales and office occupations.

Income per capita $36,434  Median household income $51,285

Household income

49%

Under $50k

28%

$50k - $100k

16%

$100k - $200k

7%

Over $200k

The median household income in Richmond stands at $51,285, with per capita income at $36,434. Households earning between $50k and $100k represent 28% of the total, while those earning over $200k make up 7%. Approximately 49% of Richmond households earn less than $50k per year.

Commuting in Richmond, VA

Mean travel time to work 23 minutes

Means of transportation to work

70.00%

Driving alone

9.80%

Carpool

6.50%

Public transit

1.20%

Bicycle

4.40%

Walking

1.70%

Other

6.30%

Work at Home

*Universe: Workers 16 and over

The mean travel time to work in Richmond in 2020 was 23 minutes. Around 70.00% of workers commute by Driving alone, 9.80% Carpool and 6.50% by Public transit.

Education in Richmond, VA

High school grad or higher 85%

Bachelor's degree or higher 39%

Population by minimum level of education

15%

No degree

22%

High school

24%

Some College

24%

Bachelor's

16%

Post-grad

*Universe: Workers 25 and over

An estimated 85% of Richmond residents aged 25 or over hold a high school degree or higher. Of those, 22% are high school graduates, 24% attended some college, 24% earned a bachelor's degree, with an additional 16% holding post-graduate degrees.

Richmond, VA Demographics

As of 2020, Richmond had a total population of 230,436, with a median age of 34.20 years. Roughly 71.60% of the total population was between the ages of 16 and 64 years old.