On average, listings lease in the $40's per square foot per year. The Capitol Hill submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Capitol Hill region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 117 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Capitol Hill are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,380 sqft. Most buildings in this area are close to 3 stories. Most buildings in this region were built in 1923 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Capitol Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Capitol Hill.
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