Office

2939 W Marshall St

Richmond, VA 23230

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Very Low Confidence

Low

$23.38/SF/mo

Mid

$27.50/SF/mo

High

$31.62/SF/mo

Tier Used

peer_city_transfer

Transferred from peer market greenville (similarity: 100%) with 28 comparable listings.

Peer market: greenville (100% similarity)

Tier Resolution Trace

Tier 1insufficient_data

Tier 2insufficient_data

Tier 3insufficient_data

Tier 4successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$27.50/SF/mo	—	peer_city_transfer
Utilities	—	9.6¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1556/wk	BLS QCEW

Source Provenance (1)

Source	Type	Count	Year	Freshness	Peer
Peer City Transfer	economic_similarity	28	—	real-time	greenville (100%)

Data sources used

peer_city_transfer

Description

Commercial property listing from JLL. Property: 2939 W Marshall St.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

Richmond, VA 23230

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2025, the Richmond office market showed a 31.4% vacancy rate, average asking rents near $33.43/SF/yr, and rents up 1.4% year over year. Source: Cushman & Wakefield Q1 2025 market report.

Projected current pricing

low confidence

Projected asking rent

$33.43/SF/yr

Estimated sale value

$121–$157/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2025 curated:CBRE U S Cap Rate Sur data (cap rate 9.5%, asking rent held flat).

View the full Richmond Office market report →

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Compare it against other office listings for lease in Richmond, VA to benchmark pricing and space — view the full market.

Office market FAQ

Is the Richmond office market tightening or softening?: Vacancy is around 31.4%, with asking rents rising year over year (Q1 2025).

Unified Estimate

Very Low Confidence

$9.03/SF/mo-$12.21/SF/mo

Mid: $10.62/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market greenville (similarity: 100%) with 28 comparable listings.

Lease Rate & Market Trend

Market report quarterly trend fallbackFIPS 51087

Low Confidence

Avg Rent ($/SF/mo) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.

Insufficient financial data for full analysis. Add more financial fields to improve metric coverage.