On average, listings lease in the $30's per square foot per year. The Broadway submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 10% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Broadway region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the office spaces in the Broadway are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,230 sqft. Most buildings in this region are approximately 3 floors. Most buildings in this market were built in 1918 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Most of the residents of Broadway work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.