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.
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.
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.