Seattle, WA Commercial Real Estate Market Trends & Data

What Are Current Commercial Real Estate Benchmarks in Seattle?

Seattle commercial properties are averaging $483 per square foot to buy and $215 per square foot to lease, with cap rates near 5.52% across asset types. The data below covers sale prices, lease rates, cap rates, and building sizes by property type to support early-stage market evaluation.

Explore Commercial Properties in Seattle

Browse properties currently for sale or lease to see how local market pricing and building sizes translate into real opportunities.

Commercial Property For Sale in Seattle

Commercial Property For Rent in Seattle

Seattle's Demographic Profile

Seattle has 358,005 households and a median income of $114,915, providing context for rent absorption and tenant demand across retail and multifamily assets. A 2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metrics	Value
Population	757,194
# Households	358,005
Median age	37
Median household income	$114,915
Avg household size	2
Renter-occupied housing units	214,189
5-year population change	2%

Commercial Real Estate Market Snapshot in Seattle

Use the benchmarks below to set initial underwriting baselines for Seattle, typical deal size, entry costs, and cap rate ranges by asset type before evaluating individual listings.

Key Market Metrics	Value
Avg asking sale price	$483 per SF
Avg asking lease rate	$215 per SF
Avg unit size for lease	64,026 SF
Avg building size for sale	21,358 SF
Average cap rate	5.52%

The 5.52% average cap rate reflects current return expectations relative to Seattle pricing and deal scale. Use this alongside asking prices and lease rates to establish initial underwriting assumptions.

Commercial Properties For Sale In Seattle

The listings below reflect how current market pricing and building scale translate into active opportunities available today.

For Sale

Fauntleroy Landing

Seattle, WA 98136

8,664 SF Multifamily
6.10% Cap Rate
$4,524,590

For Sale

816 N 38th St

Seattle, WA 98103

4,469 SF Multifamily
5.60% Cap Rate
$1,900,000

For Sale

Santorini At The Park Apartments

Seattle, WA 98103

21,398 SF Multifamily
2.02% Cap Rate
$1,200,000

For Sale

Unit B Cobrizo Condominium

Seattle, WA 98103

28,800 SF Multifamily
$925,000

For Sale

Twin Cedars Apartments

Seattle, WA 98199

7,021 SF Multifamily
5.28% Cap Rate
$2,400,000

For Sale

11427-11433 Rainier Ave S

Seattle, WA 98178

6,440 SF Retail Building
7.16% Cap Rate
$2,095,000

For Sale

Johnstone Property

Seattle, WA 98134

20,060 SF Industrial Building
5.95% Cap Rate
$6,250,000

For Sale

Miller Park 4-Unit

Seattle, WA 98112

3,610 SF Multifamily
4.37% Cap Rate
$1,900,000

Commercial Market Metrics by Property Type

Office Building Market Metrics Near Seattle

Office market metrics highlight how pricing, typical deal size, and return expectations vary across submarkets, helping investors compare entry costs and yield potential efficiently.

Nearby Office Markets	Avg Cost/SF	Typical Size	Cap Max
Seattle	$462	30,820 SF	6.84%
Bellevue	$898	15,193 SF	5.04%
Des Moines	$315	11,313 SF	9.00%

Industrial Property Market Metrics Near Seattle

Industrial market data shows how cost per square foot and typical building size differ by submarket, supporting comparisons around deal scale and pricing alignment.

Nearby Industrial Markets	Avg Cost/SF	Typical Size	Cap Max
Seattle	$392	20,576 SF	7.03%
Kent	$830	40,116 SF	6.00%

Retail Property Market Metrics Near Seattle

Retail pricing varies widely across nearby markets, making this comparison useful for identifying where cost per square foot and deal size diverge most.

Nearby Retail Markets	Avg Cost/SF	Typical Size
Seattle	$616	9,818 SF
Burien	$451	10,637 SF
Renton	$558	15,306 SF
Issaquah	$405	3,562 SF
Bremerton	$179	28,619 SF

Multifamily Property Market Metrics Near Seattle

Multifamily metrics show how pricing and building size relate to observed cap rate ranges, helping investors evaluate income potential relative to entry cost.

Nearby Multifamily Markets	Avg Cost/SF	Typical Size	Cap Max
Seattle	$391	11,548 SF	6.97%
Puyallup	$251	9,727 SF	6.77%
Tacoma	$305	16,300 SF	7.93%
Shelton	$218	7,779 SF	8.10%
Bellingham	$519	15,531 SF	6.02%

How Investors Evaluate Commercial Real Estate Markets in Seattle

Use these tools to move from market-level signals to deal-level math. Each calculator helps translate Seattle pricing, rents, and building size into concrete metrics like value, income, and space requirements, so you can validate assumptions before spending time on individual listings.

Commercial Property Valuation

Understand Core Valuation Methods, Prevent Mistakes, and Use Our Instant Value Estimator

What Is a Cap Rate?

How To Calculate This Critical CRE Investment Metric and Why It Matters

Net Operating Income (NOI) Calculator

Calculating NOI and Understanding the Significance of This Metric in Commercial Real Estate Investment

Internal Rate of Return (IRR) Calculator

Use this calculator to measure annualized returns, compare investment scenarios, and evaluate risk across commercial real estate deals.

Cash on Cash Return

Learn How Cash on Cash Return Can Optimize Your Real Estate Investments

Debt Service Coverage Ratio (DSCR) Calculator

Assess Your Investment's Health in Seconds

Gross Rent Multiplier (GRM) Calculator & Investment Guide

Simplifying Your Investment Analysis

Land Loan Calculator

Use this calculator to estimate monthly payments, interest, and total financing costs for raw, unimproved, or improved land purchases.

Balloon Payment Calculator

Use this calculator to estimate monthly payments, total interest, and the final lump-sum balloon payment for commercial real estate loans.

Office Space Calculator

Estimate How Much Space Your Team Really Needs

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Seattle pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets	Avg Cost/SF	Average Size
Seattle	$483	21,358 SF
Tukwila	$479	60,182 SF
Burien	$313	9,126 SF
Newcastle	$842	2,968 SF
Bellevue	$864	50,681 SF

Multifamily For Sale In Seattle

Multifamily listings shown here connect market pricing and cap rate patterns with income-producing opportunities currently available.

For Sale

Fauntleroy Landing

Seattle, WA 98136

8,664 SF Multifamily
6.10% Cap Rate
$4,524,590

For Sale

816 N 38th St

Seattle, WA 98103

4,469 SF Multifamily
5.60% Cap Rate
$1,900,000

For Sale

Santorini At The Park Apartments

Seattle, WA 98103

21,398 SF Multifamily
2.02% Cap Rate
$1,200,000

For Sale

Golf Crest Apartments

Seattle, WA 98119

23,900 SF Multifamily
5.07% Cap Rate
$6,500,000

For Sale

Franklin 8

Seattle, WA 98102

7,458 SF Multifamily
5.34% Cap Rate
$3,350,000

For Sale

The Edric

Seattle, WA 98106

25,693 SF Multifamily
5.46% Cap Rate
$12,500,000

For Sale

Viewland

Seattle, WA 98103

48,663 SF Multifamily
5.08% Cap Rate
$20,000,000

For Sale

Capitol Core

Seattle, WA 98102

8,949 SF Multifamily
4.69% Cap Rate
$3,795,000

Regional Demographic Comparison

This comparison places Seattle alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Seattle or distributed across surrounding areas.

City	Population	# Households	Age	MedianHouseholdIncome	AvgHouseholdSize	RenterOccupiedHousingUnits	FiveYrPopGrowthPct
Seattle	757,194	358,005	37	$114,915	2	214,189	2%
Burien	35,952	13,982	41	$91,621	3	6,626	1%
Newcastle	13,559	5,355	41	$147,377	3	1,950	1%
Bellevue	148,219	60,038	39	$157,003	2	31,427	1%

FAQs About Commercial Investing in Seattle

View All Commercial Real Estate For Sale in Seattle

Is Seattle a good market for a first-time commercial real estate investor?

Seattle offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Seattle?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Seattle. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Seattle?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Seattle. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Seattle compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Seattle. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Seattle acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Seattle, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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