On average, listings lease in the $40's per square foot per year. The Capitol Hill submarket is going through a a boost in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Capitol Hill submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 20% of the office spaces in the Capitol Hill are subleases, so you might be able to snag a great spot on a short term. 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 1,430 sqft. Most properties in this region are close to 3 floors. Most buildings in this region were built in 1922 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Capitol Hill occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.