One of the biggest stress relievers during the pandemic has been online retail. Many courier companies have been busy delivering loads of packages at everyone’s front doors as physical retail stores closed down due to the effect of the pandemic. And now that ‘lockdown fatigue’ starts to set in, shoppers will surely get back to strolling through stores again. We can provide you with all the Retail Shops for Lease in Northern VA.
According to a report by Insider Intelligence on the future of retail in 2021, total retail sales will start to recover this year with a 2.3% rise. And while e-commerce is still a favorite, brick-and-mortar retail sales will also rebound from a 3.2% decline back in 2020 to a 1.6% gain this year.
So if you’re looking to start a retail business or looking to finally lease a space then one of the best locations to start is right here in Northern Virginia!
What are retail shops?
Just a quick background portion, retail shops are essentially business enterprises which involve retail – a sale of merchandise or services directly to the final consumer for their use and consumption. Retail is actually a very huge industry which generates trillions of dollars in yearly sales revenue.
You can purchase retail merchandise through the traditional catalog or the brick-and-mortar retail store and the more popular and modern internet shopping. And there are different types of retail shop businesses which you can try: catalogue showroom, convenience store, department store, discount store, hypermarket, off-price retailer, speciality store, supermarket, and superstore.
How to start a retail shop?
Just like in any business one of the most important factors in consideration before starting a retail shop is where it will be located.
In general for 2021 and possibly in the next few years, local shopping areas are projected to earn an upswing in sales as people try to avoid crowds – one change in behavior due to the coronavirus that swept the world in 2020.
Here are some things you need to consider in choosing the location of your retail shop.
- Type of Goods Sold
There are different locations you can go to with retail shops and the most popular is renting a space in shopping centers. This is because there’s already an existing number of people who frequent these places. Although the major drawback is that malls have higher rent.
But as mentioned above, there is a resurgence in local shopping areas. Consumers are also more inclined in supporting local shops nowadays. In a recent study, it showed that 41% of consumers intend to be more supportive of local shops and independent retailers. This is the perfect timing to introduce your own brand into the community.
It is also important to situate yourself apart from rivals and adjacent to complementary businesses. For example, if you’re running a fashion boutique, one of the best business moves is to set up a shop adjacent to a salon or anything related.
- Local Demographics
Always study your target market and determine where they usually like to shop and which locations are accessible to them. It’s very helpful to research on the median age and income bracket in the area.
Accessibility and Visibility
Accessibility is very important in location because any business that is not readily accessible does not attract a lot of foot traffic and visibility. Therefore, there are also less customers. And you have to pay more in advertising your shop’s products and services.
It also helps if there is easy public transportation in the area and of course, decent parking space. Usually, there are 8 parking spaces for every 1000 square feet of property.
Good location usually has a high price tag but the premium and the benefits can definitely offset that. Just make sure that you are aware of what is included in your monthly lease like property taxes, maintenance, and insurance.
Why set up your retail shop here in Northern VA?
Northern VA is one of the best places to settle in the US. It offers competitive salaries and one of the highest average salaries as well. And for the last 10 years, it also has some of the most sought after real estate and the best amenities as well in any area in the US. Since it’s a high-income area, then communities are more likely to be able to afford products and services that you offer.
According to the 2021 World Population Review, the median age in Virginia is 38.2 with females comprising 50.8% of the population while males account for 49.2%. Virginia is largely dominated by whites around 80% of the population followed by African-Americans and Asians. Since there is a well-balanced percentage of men and women, there are a lot more options on the type of retail shop that you can try. Many in the area are also married so convenience stores and department stores are also well-suited in the area.
What we can do for you
As the old adage says, “Location is everything.” With us, you will be able to get your properties leased in no time. And for individuals looking for these spaces, you will have no problem looking through all the available spaces.
For lessors of these spaces here in Northern VA, we aim to provide your property a wider exposure reaching more potential buyers and tenants. Now that more people are turning to types and clicks to search spaces, we’re giving you digital visibility. We market your property and also offer services to provide you with the best negotiable deal possible.
For tenants, our listing page provides you available commercial properties for retail shops for rent across Northern VA. We update the information regularly so that you always know the specifics of each listing before you go to visit ones you’re interested in.
Through our valuable search tool, it will help you find out all of the helpful things you need to know in order to make an informed decision. By taking time to determine the deal breaks for the type of center you will rent or purchase will help the overall search process go over much more smoothly. Some of the helpful information we provide are:
- Physical Location – so you can evaluate for foot traffic and competition
- Size of the property – this depends on what your approach is and if you offer services that require additional space
- Condition of the Property – if it’s ready to move in or if there are necessary repairs and renovations.
- Parking space – this has become one of the most important amenities that office buildings should offer.
- Price – we want you to get the best deal, so being able to compare prices and monthly lease would be very helpful to anyone looking.
With our listings, we aim to provide as much information as possible for those interested in renting a retail shop. We have a long list of available listings for you to look through today.
Ultimately, our goal as a comprehensive and professional real estate listing page is to ensure that those that utilize our helpful tool get all of the accurate information possible for retail shops for lease in Northern VA right on our page. We aim to be your one stop shop for finding real estate for rent or for sale in the State of Virginia.
Start looking at our Retail Shops For Lease in Northern VA!