The typical asking rate per listing is in the $40's per square foot per year. The Pike-Market submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $48 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Pike-Market submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 5 listings have been posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 20% of the available leases in the Pike-Market 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,270 sqft. Most properties in this region are around 6 stories. Most buildings in this area were built in 1923 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.