The typical asking rate per listing is in the $30's per square foot per year. The Downtown Mercer Island submarket is going through a a boost in rates. In the last 3 months, the median rate increased $37 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Downtown Mercer Island submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 18 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the office spaces in the Downtown Mercer Island are subleases, so you might be able to snag a great spot on a short term. 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 1,460 sqft. Most properties in this market are around 3 floors. Most buildings in this area were built in 1984 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Downtown Mercer Island residents. Commuting close to 15 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 Downtown Mercer Island.
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