Hampton Roads Retail Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Survey, Cushman & Wakefield, Lee Associates
Quarterly retail market indicators for Hampton Roads, aggregated by PropZone from Survey, Cushman & Wakefield, Lee Associates. As of Q4 2023, average asking rent was $22.50/SF with a 3.6% vacancy rate.
Projected current retail pricing — Hampton Roads
low confidenceProjected asking rent
$22.50/SF/yr
Estimated sale value
$213–$269/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 Q4 2023 Survey data (cap rate 6.6%, asking rent held flat). Assumes ~96% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | $22.50/SF | 3.6% | — | — | Survey |
| Q4 2023 | $22.50/SF | 3.6% | 831K SF | — | Cushman & Wakefield |
| Q3 2017 | — | 4.3% | 886K SF | — | Lee Associates |
Frequently asked questions
- What is the average asking rent for retail space in Hampton Roads?
- As of Q4 2023, the average asking rent for retail space in Hampton Roads was $22.50/SF, per Survey.
- What is the retail vacancy rate in Hampton Roads?
- The retail vacancy rate in Hampton Roads was 3.6% as of Q4 2023 (Survey).
- Where does PropZone's Hampton Roads market data come from?
- This report aggregates quarterly retail market data for Hampton Roads from Survey, Cushman & Wakefield, Lee Associates.
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