Finding the right dental office for rent in Buffalo takes research and persistence, but it really matters.
Medical Real Estate Focused Team
Industry Leading Demographics
Hundreds of Successful Clients
So, you’re thinking about space for your practice in Buffalo – exciting! Navigating the commercial real estate market is a little different than the residential one, so we’ve created this short guide of tips and key pitfalls to avoid while trying to find a dental office for rent in Buffalo.
Where can you find a dental office for rent?
Commercial Real Estate Agents
Commercial Real Estate Agents use their local market knowledge and relationships alongside databases of properties to find and screen available properties for their clients.
Most commercial real estate agents specialize on either landlord representation or tenant representation. We almost exclusively represent medical tenants, the majority of which are dentists looking to find a dental office for rent.
Hit the Street
Driving areas you are interested in can be a good way to get a feel for what is out there on the market. When trying to find a dental office for rent in Buffalo, you’ll want to be sure to take note of the existing practices that are nearby.
There are a variety of mixed-use residential and commercial neighborhoods throughout Buffalo including Allentown, Bailey-Lovejoy, Elmwood Strip, Kaisertown, Polonia, Riverside, and Willert Park.
The Hospital Hill neighborhood is home to the Buffalo Niagara Medical Campus, a major health care education and research center.
The primary downtown area includes the J.N. Adam—AM&A Historic District, Canalside, and the Theater District. These areas are home to many local businesses. The Canalside neighborhood is home to many popular festivals in the Buffalo area.
The University Heights neighborhood is home to the main campus of the University of Buffalo, with many businesses catering to the large student population.
The West Side of the city is roughly divided into the Upper West Side and the Lower West Side, with the Upper West Side being home to many local businesses and a host of residential and industrial areas
Keep in mind, if you go to a landlord’s broker directly without representation, the landlord’s broker simply keeps the entire listing fee from the landlord instead of splitting the fee with an independent agent of your choosing.
Some landlords won’t pay a tenant agent (your agent) if you’ve discussed a space in depth with them on your own previously. This can make it tricky to bring in outside representation later.
There are several listing services that are available for free online. They are less comprehensive than the paid databases, and are often less frequently updated. Searching through them is a great way to get a feel for what you like and don’t like in commercial properties, but can be a hard way to find a dental office for rent. Take note of any property features or amenities that strike you as important for your practice.
Buffalo Dental Demographics
With an estimated 2018 population of 256,304 residents, Buffalo is the second largest city in the state of New York (after New York City). Buffalo is the county seat of Erie County and is a major hub of international travel and commerce between the United States and Canada.
The greater metropolitan area includes approximately 1.1-1.2 million residents.
The median resident age in Buffalo is 32.8 years old, significantly lower than the New York state median of 38.4 years.
Estimated median household income in the city is $32,883 according to 2016 census data. This is significantly below the New York state median household income of $62,909. However, it is notable that the concentration of wealth in New York City skews this comparison.
Medical Real Estate in Buffalo
Due to the concentration of people in Buffalo, the best space comes at a premium. Costs per square foot can be extremely high and occupancies rare in certain competitive neighborhoods. This is why it is vital to have a well-rounded understanding of the many factors that go into selecting an ideal location for your dental or other medical practice.
Get the benefits of agent representation at no cost to you
A commercial real estate agent specializing in medical leasing can help you to consider all of your options and select the perfect location that both fits within your budget and satisfies all of your business needs.
Best of all, commercial landlords typically pay the entire agent fee when finalizing an agreement. Why not take advantage of the benefits of enlisting qualified professional agents that will help you to get the best deal on the right property.
Ways to offset lease expenses in your dental practice
Although the rent for your Buffalo dental office may seem to take up a large part of your expenses, there are several ways you can help bring those costs down.
Consider renting out an operatory to specialists wishing to do work for patients in your area. Keep non-profit-producing space to a minimum. Efficient scheduling practices can help to eliminate the need for a large waiting space. Or, consider whether a similar but less expensive neighborhood would be a better deal for the bottom line.
Lease costs for healthcare real estate in Buffalo can be expensive, but there are enormous opportunities for great dentists who start their practices off right with the perfect location
Ready to find a dental office for rent?
We do the heavy lifting of combing through property databases and running demographics and competition reports for you. We work exclusively with medical clients, so we know how dental practices work and what it takes to be successful. Use the form below to get in touch and we’ll reach out shortly.
Buffalo has a strong Dental Community.
Here are some useful links and groups to help you get started: