On average, listings lease in the $20's per square foot per year. The Totem Lake submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Totem Lake submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 19 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,360 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 2 floors. Most buildings in this market were built in 1986 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this region. Most of the folk of Totem Lake work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.