Most listings are in the $40's per square foot per year. The Pike-Market region is experiencing a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pike-Market submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 5 listings have come on the market, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. 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 2,620 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are approximately 6 floors. Most buildings in this area were built in 1922 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pike-Market residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.