On average, listings lease in the $10's per square foot per year. The SoDo submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $18 per sqft per year. That's a 50% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the SoDo submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 1 listings have been posted online, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 7,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 4 stories. Most buildings in this region were built in 1947 and are Class A.
Waste services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst SoDo occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.