The typical asking rate per listing is in the $40's per square foot per year. The Northeast Seattle submarket is going through a decline in rates. In the last 3 months, the median rate fell $48 per sqft per year. That's a 50% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Northeast Seattle submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 400% of the office spaces in the Northeast Seattle 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,800 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 3 stories. Most buildings in this market were built in 1969 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Northeast Seattle residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.