The typical asking rate per listing is in the $0's per square foot per year. The Ballard submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $45 per sqft per year. That's a 100% decline in rent.
In the last 90 days, 3 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 8,690 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this market were built in 1977 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Ballard folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.