On average, listings lease in the $20's per square foot per year. The Northeast Seattle region is seeing a decline in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 21% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Northeast Seattle submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 3 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 960 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this market were built in 1967 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Northeast Seattle residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.