On average, listings lease in the $10's per square foot per year. The Elmwood submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 31% decrease in rent.
Compared to the rest of the Buffalo market, the Elmwood region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 17 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 properties in this market are close to 3 stories. 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 region. Commute by car is the most popular way to get to work amongst Elmwood occupants. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.