The typical asking rate per listing is in the $20's per square foot per year. The Capitol Hill submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% rise in rent.
In the last 90 days, 39 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 26% of the available leases in the Capitol Hill are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,720 sqft. Most properties in this region are around 6 floors. Most buildings in this region were built in 1939 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Most of the folk of Capitol Hill work from home. Commuting approximately 10 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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