Most listings are in the $40's per square foot per year. The Capitol Hill region is going through 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 submarket has higher rates, and you'll need to make a great offer to be in this hot region.
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 available space in the Capitol Hill are subleases, so you will probably have to focus your search on direct office leases. 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 1,380 sqft. Most properties in this market are approximately 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 region. Commute by taxi is the most popular way to get to work amongst Capitol Hill occupants. 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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