Elmwood Office Space

423 Elmwood Ave 2 Spaces
Bryant, Buffalo, NY
Ideal restaurant or cafe space with large outdoor seating area. Located in the heart of Elmwood Village. Once voted Buffalo's best patio by ArtVoice! Historic mixed-use office space in the Elmwood Village with responsible owners. Other tenant is Boost Mobile. Building shares a block with the well respected Benjaman Gallery.Tenant pays heat and electric. Rent is negotiable. Located at the crossroads of a historically significant parkway system and home to an impressive collection of world-class architecture, Elmwood Village is a premier urban, mixed-use neighborhood that dates back to Joseph Ellicott's 1804 plan for the City of Buffalo, New York. The American Planning Association has selected Elmwood Village as one of 10 Great Neighborhoods in America for its vitality, broad spectrum of cultural and social assets, and its commitment to maintaining high community standards while solving real problems. Tucked inside the City of Buffalo, mixed-use Elmwood Village is a neighborhood where one can find examples of works by renowned landscape designer Frederick Law Olmsted and architect Frank Lloyd Wright. The village also is home to several world-class cultural institutions, including the Albright-Knox Art Gallery, which contains one of the country's best collections of modern art. It includes a prosperous commercial district, primarily along Elmwood Avenue, with more than 300 shops and restaurants. Four large colleges and universities are located in or near the neighborhood, adding to the area's diversity and vibrancy. (APA's Great Places in America)

Elmwood

Office Space Market Report

Number of Listings (last 90 days)
17
Median Rate ($/sqft/yr)
$16
Median Size (sqft)
1,350
As of: May 20, 2017

Elmwood Rates

The typical asking rate per listing is in the $10's per square foot per year. The Elmwood region is going through a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 31% decline in rent.

Compared to the rest of the Buffalo market, the Elmwood submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.

Elmwood Listing Supply

In the last 90 days, 17 listings have been made available, which means office spaces most likley are leasing quickly. 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 1,350 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this region were built in 1915 and are Class B.

Elmwood Community

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 car is the most popular way to get to work amongst Elmwood folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Elmwood.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Elmwood.
Research