The typical asking rate per listing is in the $30's per square foot per year. The Pike-Market region is experiencing a decline in rates. In the last 3 months, the median rate fell $28 per sqft per year. That's a 43% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pike-Market submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Pike-Market are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,860 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 6 floors. Most buildings in this area 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. Health care is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Pike-Market folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.