Elaine, are you considering it as a move or an additional spot? If they are done correctly, and marketed correctly, it could be an "exclusive" type of spot. In that case, you might not want everybody to come to it.
If it is to be a primary, bread and butter spot, then probably, no.
In my case, we are located in an upstairs spot. We built the staircase 5' wide out of roughcut sawmill lumber. It has a certain type of charm. It was designed to carry chairs and frames up and down with plenty of room and ease. I do the carrying. (Except once, there was this older man who refused to let me do the carrying. He was cute about it.) In our case, the building looks somewhat like a converted barn (it's not, but...) so it works.
But, let me tell you, the stairs get longer everyday about 3:00pm...
You said there was an elevator. That might help. A lot depends on just what kind of atmosphere you want to create. It is not a great location for retail sales. But it might be good for a "custom art venue."
Like everyone else, this is just my opinion. Oh wait, that's what you asked for isn't it?
Betty