Historic Downtown Real Estate 2025 Mid-Year Report

Historic Downtown Manassas continues to demonstrate strength and resilience as we pass the midpoint of 2025. The commercial market is performing exceptionally well, with overall vacancy dropping to just 2.6%, down from 5.0% at the end of 2024. Market rents have continued their steady upward climb, now averaging $26.29 per square foot (sf), compared to $25.75/sf in Q4 2024.

The office sector has shown remarkable recovery and growth, with occupancy rising from 93.9% in Q4 2024 to 97.5% today. Market rent for office space edged up slightly to $26.49/sf. Meanwhile, the retail sector remains strong, sitting at 96.8% occupancy—up from 96.3% this time last year, though down slightly from 99.5% in Q1. These fluctuations are typical in Downtown, where the total square footage is limited and minor changes in reporting or classification can shift the data. Retail rents tell a more stable story, continuing their upward trajectory from $26.09/sf at year-end to $27.31/sf.

New businesses have added to Downtown’s energy this year. Suhweets Bakery, now open at 9119 Church Street, brings a fresh dose of charm with handmade cookies, cakes, and nostalgic treats—already drawing a loyal following since its soft opening. At 9408 Grant Avenue, NextHome is currently serving its real estate clients from Suite 404. And The Archive Photography Studio, now open at 9411 Main Street #104, recently celebrated its official ribbon cutting, drawing a crowd of local supporters.

Historic Downtown’s First Friday series remains a key economic driver—each month drawing new and returning visitors to local restaurants and boutiques. July’s Celebrate America event also fell on a First Friday this year with record-breaking attendance.

Looking ahead, Historic Downtown remains one of the region’s most walkable and active commercial centers. With strong fundamentals, a growing business mix, and steady foot traffic, it continues to offer exciting opportunities for both entrepreneurs and investors.

As always, our office is here to assist with any commercial real estate needs you may have. Whether you’re looking for office space, retail opportunities, or just want to learn more about the area’s growth, we’re happy to help.