The typical asking rate per listing is in the $30's per square foot per year. The SoDo region is experiencing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the SoDo region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the listings in the SoDo 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 available, so finding a space for a small business might be tough.
Even though the median size is 10,740 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 4 stories. Most buildings in this region were built in 1947 and are Class A.
Waste services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst SoDo occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.