On average, listings lease in the $20's per square foot per year. The University District submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the University District submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 1 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. 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 410 sqft. Most buildings in this region are approximately 5 floors. Most buildings in this area were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Most of the residents of University District work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.