Hampton Roads Retail Market Report
By CREhunt Research · Data through Q4 2023 · Aggregated from Cushman & Wakefield
Quarterly retail market indicators for Hampton Roads, aggregated by CREhunt from Cushman & Wakefield. As of Q4 2023, average asking rent was $22.50/SF/yr and vacancy was 3.6%, per Cushman & Wakefield.
Projected current retail pricing — Hampton Roads
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Hampton Roads retail yet, so this applies the typical cap rate across comparable retail markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 multiple brokerages asking-rent data (benchmark cap rate 6.1%–7.2%, 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 Cushman & Wakefield | $22.50/SF/yr | 3.6% | 831K SF | — | Cushman & Wakefield |
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/yr, per Cushman & Wakefield.
- What is the retail vacancy rate in Hampton Roads?
- The retail vacancy rate in Hampton Roads was 3.6% as of Q4 2023 (Cushman & Wakefield).
- Where does CREhunt's Hampton Roads market data come from?
- This report aggregates quarterly retail market data for Hampton Roads from Cushman & Wakefield.