2024 Office Space Rent & Sales
- $25.88 2024 Avg. Asking Rent
- 12.11% 2024 Office Vacancy Rate
Henrico office price per square foot in 2024 was $25.88 on average. The local office market recorded an average vacancy rate of 12.11% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Henrico Class A & A+ Office Space$27.70
- Henrico Class B Office Space$22.94
- Virginia Class A & A+ Office Space$35.61
- Virginia Class B Office Space$25.93
- Virginia Class C Office Space$20.32
Henrico, VA Office Asking Rents by Class
2024 Office Vacancy Rates in Henrico
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Far West End | $28.52 | 21.72% |
| Lakeside | $24.00 | 4.04% |
| Innsbrook | $22.26 | 14.11% |
| West End | $22.08 | 15.98% |
Office Spaces for Rent in Virginia
Coworking Spaces in Virginia
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2024 Office Construction in Henrico, VA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Bon Secours - Short Pump Medical Plaza | 12320 West Broad Street, 23233 | 50,000 | 2018 |
| Westerre IV | 3901 Westerre Pkwy, 23233 | 78,120 | 2008 |
| Westerre Commons | 3701 Westerre Pkwy, 23233 | 85,531 | 2007 |
| Gaskins Professional Office Park | 2500 Gaskins Road, 23238 | 52,395 | 2007 |
| Westerre III | 3900 Westerre Pkwy, 23233 | 76,128 | 2006 |
| Three Paragon Place | 6806 Paragon Place, 23230 | 74,480 | 2006 |
| 2404 Parham Rd | 2404 Parham Rd, 23229 | 12,000 | 2004 |
| 5400 Glenside Dr | 5400 Glenside Dr #B, 23228 | 1,554 | 2004 |
| Brookstone Building | 2805 North Parham Road, 23294 | 92,943 | 2003 |
| Westgate I | 100 Westgate Pkwy, 23233 | 93,000 | 2001 |
Worth noting among recent office completions on the Henrico market is Bon Secours - Short Pump Medical Plaza, which is currently the largest new office development in the city, at 50,000 square feet.
See reports for other markets
- Richmond Office Rent Price
- Virginia Beach Office Rent Price
- Arlington Office Rent Price
- Alexandria Office Rent Price
- Fredericksburg Office Rent Price
- Fairfax Office Rent Price
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Henrico commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.