On average, listings lease in the $40's per square foot per year. The Capitol Hill region is seeing 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 need to make a great offer to be in this hot submarket.
In the last 90 days, 10 listings have come on the market, which means spaces are probably 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.
The standard measurement for office space in this area is around 1,300 sqft. Most properties in this area are approximately 3 stories. Most buildings in this region were built in 1920 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 region. 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.