Springfield, VA
Commercial Real Estate Market Trends & Data

$255 Avg asking sale price
$22 Avg asking lease rate
12,731 SF Avg unit lease size
35,533 SF Avg building size for sale
8.01% Average cap rate

Springfield's Demographic Profile

Springfield has 9,794 households and a median income of $117,856, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 30,471
# Households 9,794
Median age 42
Median household income $117,856
Avg household size 3.0
Renter-occupied housing units 3,628
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Springfield, VA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Springfield $272 27,011 SF 7.74%
Franconia $303 34,012 SF 7.74%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Springfield $120 52,278 SF 10.00%
Newington $168 62,499 SF 10.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Fort Belvoir $295 1,152 SF
Annandale $514 4,082 SF
Fairfax Station $623 8,432 SF
Alexandria $399 15,036 SF

Commercial Properties For Sale in Springfield

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

5528-A HEMPSTEAD WAY #24G

Springfield, VA 22151

  • 85,227 SF Office Building
  • $349,990
For Sale

Springdale Professional Center 2

Annandale, VA 22003

  • 2,000 SF Office Building
  • $312,500
For Sale

Grovedale Investment Portfolio

Franconia, VA

  • Office Building
  • 7.60% Cap Rate
  • $11,163,750
For Sale

Grovedale Executive Office Park - Building A

Franconia, VA 22310

  • 18,491 SF Office Building
  • 7.74% Cap Rate
  • $5,500,000
For Sale

Grovedale Executive Office Park - Building B

Franconia, VA 22310

  • 18,980 SF Office Building
  • 7.12% Cap Rate
  • $6,075,000
For Sale

7700 & 7702 Boston Boulevard Portfolio

Springfield, VA

  • $15,000,000

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Springfield pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Springfield $255 35,533 SF
Newington $237 67,611 SF
North Springfield $309 9,906 SF
Franconia $303 42,394 SF

Regional Demographic Comparison

This comparison places Springfield alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Springfield or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Springfield 30,471 9,794 42 $117,856 3 3,628 -2%
West Springfield 22,304 7,765 42 $142,110 3 1,491 -2%
Newington 12,668 4,148 40 $148,051 3 789 -2%
Franconia 17,987 7,192 41 $136,041 3 2,086 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Springfield, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Springfield

View All Commercial Real Estate For Sale in Springfield
Is Springfield a good market for a first-time commercial real estate investor?

Springfield offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Springfield?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Springfield. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Springfield?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Springfield. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Springfield compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Springfield. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Springfield acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Springfield, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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