Commercial Real Estate Market in Seattle, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,715 active listings and 11,521 off-market properties in Seattle, WA. Commercial property asks $3/SF to buy and $29.59/SF/Yr to lease. Office vacancy runs 32.3%, the loosest of the segments tracked here.
Market Trends
Seattle, WA spans 171.1 square miles in King County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Seattle, WA asks $29.17/SF/Yr to lease. Vacancy runs 32.3% in 2025, up from 8.5% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Retail
Retail vacancy in Seattle, WA runs 5.7% in 2025, up from 4.5% in 2019. Nearly 1.6x the 2022 low of 3.6%.
Vacancy Rate %
Industrial
Industrial vacancy in Seattle, WA runs 9.2% in 2025, up from 3.6% in 2019. Nearly 3.2x the 2022 low of 2.9%.
Vacancy Rate %
Multifamily
Multifamily vacancy in Seattle, WA runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 76.6%
- Industrial 11.8%
- Commercial 7.7%
- Mixed use 3.9%
Largest Zones share of zoned land by district
Neighborhood Residential
Maritime Manufacturing And Logistics Unlimited
Lowrise Mandatory Housing Affordability
Lowrise Mandatory Housing Affordability
Lowrise Mandatory Housing Affordability
Seattle, WA zones 58,014 acres across 284 districts. Commercial zoning covers 7.7% of zoned land, residential 76.6% and industrial 11.8%. The largest single district is Neighborhood Residential at 61.4%. For commercial buyers the practical constraint is that only 19.5% of land carries a commercial or industrial designation.
Maritime Manufacturing And Logistics Unlimited (MML-U/85)
This district promotes industrial and manufacturing activities, an existing industrial area with a concentration of core and legacy industrial and maritime uses including manufacturing, warehousing, shipping, and logistics activities, and is well served with truck, rail, and maritime or freight infrastructure.
Market overview
Demographics & Economy
Seattle, WA has 1,017,427 residents in 495,754 households. Density runs 5,948 people per square mile. Median household income here is $117,424 and median gross rent $1,936 a month.
1,017,427
Population
495,754
Households
2.1
Avg Household Size
37
Median Age
60%
College-Educated
94%
High-School Grad
171.1 sq mi
ZIP Area
5,948
Density / Sq Mi
$117,424
Median Household Income
$69,353
Median Earnings
$1,936
Median Rent
$861,072
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Renton | — | $17.92 |
| Kent | — | $15.08 |
| Seatac | — | — |
| Des Moines | — | — |
Commercial property in Seattle, WA asks $3/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Seattle?
Commercial property in Seattle, WA asks an average of $3 per square foot. The 4 most recent recorded sales traded at a median of $553/SF.
How much does it cost to lease commercial space in Seattle?
Asking lease rates in Seattle, WA average $29.59 per square foot per year. Office asks $29.17/SF/Yr as of Q2 26, down from $29.95/SF/Yr in Q1 26.
What is the office vacancy rate in Seattle?
Office vacancy in Seattle, WA is 32.3% as of 2025, up from 8.5% in 2019. That is the highest in the 7-year series. Retail vacancy is 5.7%, below Office vacancy.
Which property type has the lowest vacancy in Seattle?
Retail has the lowest vacancy in Seattle, WA at 5.7%, inside a 3.6–5.7% band since 2019. For comparison: office 32.3%, industrial 9.2% and multifamily 8.6% (West).
What zoning applies to commercial property in Seattle?
Seattle, WA zones 58,014 acres across 284 districts, of which 7.7% is commercial and 11.8% industrial. The largest single district is Neighborhood Residential at 61.4% of zoned land. Residential zoning covers 76.6% and open space 0%.
Where does Realmo's Seattle market data come from?
Realmo compiles Seattle, WA figures from 6 recent recorded sales, 657 active sale listings, 1,058 active lease listings, 11,521 tracked off-market properties, the current Seattle zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 657 active for-sale and 1,058 active for-lease listings in Seattle, WA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 58,014 zoned acres across 284 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- multifamily vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
