The typical asking rate per listing is in the $30's per square foot per year. The Belltown region is seeing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Belltown region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 34 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 29% of the available leases in the Belltown 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,290 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this market were built in 1965 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the occupants of Belltown work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.