Most listings are in the $20's per square foot per year. The University District region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the University District submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 1 listings have been listed, which means spaces 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 750 sqft. Most properties in this market are around 5 floors. Most buildings in this region were built in 1973 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Most of the folk of University District work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.