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The typical asking rate per commerial real estate listing leases is in the $30's per square foot per year. The Ballard submarket is seeing a a boost in rates. In the last 3 months, the median rate for lease increased $5 per sqft per year. That's a 17% increase in rent.
Compared to the rest of the Seattle Metropolitan Area commercial real estate market, the Ballard region has more expensive rates for rent, and you may have to negotiate above asking rent to be in this hot region.
In the last 90 days, 74 commercial real estate listings have been posted online, so you'll want to check back regularly for new listings. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 1,900 sqft. Most properties in this area are around 2 floors. Most buildings in this market were built close to 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Ballard residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Ballard.
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