The typical asking rate per listing is in the $40's per square foot per year. The Capitol Hill region is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Capitol Hill region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 10 listings have been made available, which means office 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 sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 930 sqft. Most buildings in this region are approximately 4 floors. Most buildings in this market 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. Waste services is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Capitol Hill occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.