12399 Olean Road, Sardinia, NY 14030

Listing Agency: Howard Hanna WNY Inc. Show Phone

Listed By: Kathleen E Komenda Show Phone

Source: Nicholcityrealty

Added: Oct 26 Changed: Nov 6 Last Checked: Nov 6 at 3:18PM

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Investment Insights

Based on property information with market context.

Two renovated office units are available, each with approximately 1,400 square feet, a half bath, and a kitchen area. An interior connecting door allows the suites to be joined. The property is on Route 16 in Sardinia, with blacktop parking. Tenants pay electricity; lawn care and snow plowing are provided by the landlord.

Key Highlights

• Two office suites, each approximately 1,400 square feet
• Interior connecting door permits access between the two suites
• Each suite includes a half bath and kitchen area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,543

Suggested Prices Based on Cap Rates

Cap Rate 5%

$350,860 $350.9K

Cap Rate 7%

$250,614 $250.6K

Cap Rate 9%

$194,922 $194.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$28.6K $20.40/SF

− Vacancy

−$5.2K −$3.69/SF

EGI

$23.4K $16.71/SF

− OpEx

−$5.8K −$4.18/SF

NOI

$17.5K $12.53/SF

Area

Erie County, NY

Vacancy

18.10%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$350,860

Cap Rate 7%

$250,614

Cap Rate 9%

$194,922

Alternative Uses

Best Use

Office B

$250.6K

$219.3K – $292.4K (±1% cap)

NOI $17,543 @ 7.0% cap · market cap 974.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$306.0K

$267.8K – $357.1K (±1% cap)

NOI $21,423 @ 7.0% cap · market cap 1,190.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick HVAC Service Garden Center Storage Facility Bakery Carpet & Flooring Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

Explore this area Business Placement

Demographics for 14030, NY

1,755

Population

791

Households

2.2

Avg Household Size

48

Median Age

19%

College-Educated

89%

High-School Grad

21.2 sq mi

ZIP Area

83

Density / Sq Mi

$84,792

Median Household Income

$49,069

Median Earnings

$743

Median Rent

$204,100

Median Home Value

Market

Average Price Trend$/SF for Office Units in Erie County, NY

$131 Jul

$132 Aug

$97.78 Sep

$75.03 Oct

Properties on Market for Office Units in Erie County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office unit - Two separate suites each include a half bath, kitchen area, and access to blacktop parking.

Where is this office unit located?

The property is located at 12399 Olean Road Sardinia, NY.

What are key features of this property?

This property features: Two office suites, each approximately 1,400 square feet; Interior connecting door permits access between the two suites; Each suite includes a half bath and kitchen area