On average, listings lease in the $20's per square foot per year. The New Tacoma submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the New Tacoma submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 7 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 9,160 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are close to 3 floors. Most buildings in this region were built in 1951 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst New Tacoma residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.