Richmond Retail Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Rangecommercial, Cushman & Wakefield, Lee Associates, Colliers
Quarterly retail market indicators for Richmond, aggregated by PropZone from Rangecommercial, Cushman & Wakefield, Lee Associates, Colliers. As of Q1 2026, average asking rent was $23.93/SF with a 8.7% vacancy rate.
Projected current retail pricing — Richmond
low confidenceProjected asking rent
$23.93/SF/yr
Estimated sale value
$281–$354/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 2026 multiple brokerages data (cap rate 5.1%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $23.93/SF | 8.7% | 0K SF | — | Rangecommercial |
| Q1 2026 | — | 18.1% | 0K SF | — | Cushman & Wakefield |
| Q1 2026 | — | 2.4% | 1.2M SF | — | Lee Associates |
| Q1 2026 | — | 3.3% | 7.0M SF | — | Colliers |
| Q4 2020 | — | 2.9% | — | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for retail space in Richmond?
- As of Q1 2026, the average asking rent for retail space in Richmond was $23.93/SF, per Rangecommercial.
- What is the retail vacancy rate in Richmond?
- The retail vacancy rate in Richmond was 8.7% as of Q1 2026 (Rangecommercial).
- Where does PropZone's Richmond market data come from?
- This report aggregates quarterly retail market data for Richmond from Rangecommercial, Cushman & Wakefield, Lee Associates, Colliers.
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