Where to Find Small Bay Flex Space in Richmond, VA (and Why It’s So Hard to Get)

Small bay flex space in Richmond VA, meaning units of roughly 1,500 to 10,000 SF with some office and a grade-level door, is mostly found in older multi-tenant business parks in western Henrico, along Route 1 and I-95 north toward Ashland, around the airport in eastern Henrico, and along Route 1 and Midlothian in Chesterfield. Inventory is thin and turns over quietly, so plan to search for months, not weeks.

This post narrows in on the smallest users. For the full county picture, including bulk distribution space, see our Henrico industrial and warehouse space guide.

Where is small bay flex space in the Richmond area?

Small-bay buildings are usually single-story, split into suites with a storefront or office up front and a warehouse bay behind. In the Richmond area they cluster in a few places:

• Western Henrico: Parham Road, Staples Mill Road, and the West Broad Street corridor. Mostly older flex that suits service companies and contractors who want to be near West End customers.
• Route 1 / I-95 north and Ashland: a mix of older service buildings and one of the region’s few newer small-bay parks, Crescent Business Center in Ashland (Hanover County), where bays run 8,000 to 10,000 SF deep, per Richmond BizSense.
• Eastern Henrico near the airport: some small-bay and service product mixed in among much larger distribution buildings.
• Chesterfield: Route 1 / Jefferson Davis Highway and pockets off Midlothian Turnpike. See our Chesterfield industrial I-95 corridor guide.
• City of Richmond: Scott’s Addition and nearby industrial blocks, though flex users there compete with breweries and restaurants for the same buildings. See our Scott’s Addition flex space guide.

Why is small bay flex space so scarce in Richmond?

Mostly because almost nobody builds it. When Merritt Properties broke ground on four more buildings at Crescent Business Center in March 2025, Thalhimer noted that small-bay flex accounted for only about 2% of Richmond’s industrial construction pipeline, because most local developers were building large distribution warehouses. The existing five-building park was 100% occupied at the time, and the first new building was 90% pre-leased before delivery, with tenants taking 10,000 and 18,000 SF.

The economics explain it. Per Link Logistics, small-bay buildings are hard to build because land in established submarkets is scarce and entitlements take time, so new supply rarely keeps pace. Many small units, many doors, and more demising walls cost more per SF to build and manage than one big box. Meanwhile, bulk projects like those near White Oak Technology Park absorb the region’s development capital.

What does small bay flex space cost in Richmond?

Flex rents run well above warehouse rents on a per-SF basis because a larger share of each unit is finished office. Cushman & Wakefield | Thalhimer breaks out flex (which it calls office-service) rents by quadrant:

These are net figures from the Q2 2026 Richmond Industrial MarketBeat, and vacancy is reported for all industrial product, not flex alone. Small units often ask more per SF than the average because fixed costs are spread over fewer feet. Always ask whether a quote is NNN or modified gross before comparing.

What specs should a small-bay tenant expect?

• Doors: grade-level drive-in (roll-up) doors are standard for vans, box trucks, and equipment. Dock-high doors are less common in small units; per Link Logistics, multi-tenant buildings usually mix both across suites.
• Clear height: CBRE, as cited by Link Logistics, defines shallow-bay buildings as having 14 to 28 feet of clear height. Older Richmond flex often sits at the low end; Crescent Business Center’s new buildings offer 20 and 24 feet.
• Office build-out: anywhere from a small front office to a mostly finished suite. More office usually means higher rent, and suites with more finished space lease at a premium, per Link Logistics.
• Power and plumbing: check amperage, three-phase availability, and restrooms before you tour seriously. Upgrades in a small suite can eat a meaningful share of your budget.
• Parking and outdoor storage: often limited, and many parks prohibit overnight trailers or yard storage.

How are small-bay flex leases structured?

Most are triple-net: base rent plus a share of taxes, insurance, and common area maintenance, per Link Logistics. Some older flex buildings are quoted modified gross. Expect annual escalations, a security deposit, and often a personal guarantee from a small-business owner. Landlords generally prefer multi-year terms, and tenant improvement dollars tend to grow with term length. Read HVAC and roof clauses closely, because in older buildings a tenant who takes on HVAC replacement can face a large unplanned bill.

Zoning matters too. In Henrico, flex and light industrial uses generally fall in the M-1 district and some are allowed in O/S Office/Service. Confirm your exact use with Henrico County Planning or the relevant county before you sign.

How can a small business land a small bay flex unit?

1. 1Write down the real requirement: square footage, door type and size, clear height, power, office share, and parking. A one-page spec sheet speeds up every conversation.
2. 2Start six to twelve months out. Good units are often leased to the next tenant before the current one moves out.
3. 3Widen the map. A unit ten minutes farther away may save a year of waiting.
4. 4Have financials ready: two years of statements or tax returns, plus a short business description. Landlords with multiple applicants favor tenants who look easy to underwrite.
5. 5Ask about upcoming vacancies and subleases, not just what is listed today.
6. 6Compare total occupancy cost, including NNN charges, utilities, and build-out, not just base rent.

Looking for small-bay space in Richmond?

If you need a small flex or warehouse bay and aren’t sure where to start, I’m happy to talk through your requirement and what fits it. You can browse current opportunities on the listings page, read more in our Henrico industrial guide, or reach out.