On average, listings lease in the $10's per square foot per year. The Georgetown submarket is going through a decline in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 46% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Georgetown region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 7 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 14% of the available leases in the Georgetown are subleases, so you might be able to find a shorter term or below market rent. 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 8,780 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1969 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Georgetown residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.