On average, listings lease in the $40's per square foot per year. The Broadway submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Broadway submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 10 listings have been posted online, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 20% of the available leases in the Broadway are subleases, so you might be able to find a shorter term or below market rent. 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 930 sqft. Most buildings in this region are close to 4 stories. Most buildings in this market 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 market. Most of the occupants 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.