On average, listings lease in the $40's per square foot per year. The University District submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $48 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the University District region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 200% of the office spaces in the University District 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 11,140 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 5 stories. Most buildings in this region were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the residents of University District work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.