Suffolk, VA
Commercial Real Estate Market Trends & Data

$386 Avg asking sale price
$2,198 Avg asking lease rate
92,344 SF Avg unit lease size
124,767 SF Avg building size for sale
6.37% Average cap rate

Suffolk's Demographic Profile

Suffolk has 39,217 households and a median income of $84,176, providing context for rent absorption and tenant demand across retail and multifamily assets. A +10% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 103,725
# Households 39,217
Median age 40
Median household income $84,176
Avg household size 3.0
Renter-occupied housing units 11,949
5-year population change +10%

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

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Suffolk $297 27,966 SF 5.75%
Portsmouth $177 11,573 SF 8.40%
Nearby Retail Markets Avg Cost/SF Typical Size
Suffolk $415 7,193 SF
Windsor $228 8,781 SF
Franklin $14 98,280 SF
Portsmouth $307 6,085 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Suffolk $72 18,000 SF 8.68%
Portsmouth $194 53,803 SF 9.70%
Chesapeake $175 66,510 SF 6.95%
Newport News $172 9,000 SF 8.29%
Norfolk $185 38,486 SF 9.70%

Commercial Properties For Sale in Suffolk

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

600-604 W Washington St

Suffolk, VA 23434

  • 3,600 SF Retail Building
  • 7.50% Cap Rate
  • $754,880
For Sale

Chase Bank

Suffolk, VA 23435

  • 5,458 SF Retail Building
  • 4.19% Cap Rate
  • $5,250,000
For Sale

MAST One

Portsmouth, VA 23703

  • 59,878 SF Office Building
  • $6,500,000
For Sale

810 W Constance Rd

Suffolk, VA 23434

  • 0.48 AC Lot
  • 1 Commercial Lot
  • $395,000
For Sale

3090-3098 Godwin Blvd

Suffolk, VA 23434

  • 19,181 SF Retail Building
  • 5.75% Cap Rate
  • $10,879,896
For Sale

Take 5 Oil Change

Suffolk, VA 23434

  • 1,682 SF Retail Building
  • 5.75% Cap Rate
  • $2,086,957

Average Price For Sale

↻ Updated Monthly

Average Price 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 Suffolk pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Suffolk $386 124,767 SF
Windsor $228 8,781 SF
Ivor $329 5,300 SF
Franklin $48 144,207 SF
Carrollton $397 9,921 SF

Regional Demographic Comparison

This comparison places Suffolk 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 Suffolk or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Suffolk 103,725 39,217 40 $84,176 3 11,949 10%
Windsor 2,791 1,099 45 $60,583 3 237 8%
Ivor 250 107 50 $74,166 2 25 -4%
Carrollton 7,764 2,988 42 $102,735 3 743 9%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Suffolk, 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 Suffolk

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

Suffolk 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 Suffolk?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Suffolk. 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 Suffolk?

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

How does Suffolk compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Suffolk. 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 Suffolk acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Suffolk, 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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