The typical asking rate per listing is in the $30's per square foot per year. The Broadway submarket is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Broadway submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 88 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the available space in the Broadway 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 around 4 floors. Most buildings in this region were built in 1920 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Most of the residents of Broadway work from home. Commuting close to 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 Broadway.
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