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    New Allegany Building with Bar Title is generated by Realmo AI

    126 W Main Street, Allegany, NY 14706

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    For Sale
    $899,900

    New construction near St. Bonaventure with bar/patio potential.

    Type:Office
    Added:
    Nov 25, 2025
    Days on Market:
    173
    Last Refresh:
    Apr 16 at 5:52 pm

    Property Features for 126 W Main Street

    General Information

    Standard status
    Active
    Property subtype
    Office

    We can help!

    Listing Contact
    Rick Recckio
    Rick Recckio

    Listing agent Rick Recckio License #NY #31RE0821429

    Listing office Recckio Real Estate & Development, Inc.

    Listing date Nov 25, 2025

    Source Recckio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Recckio Real Estate & Development, Inc.

    HighLights

    • Newly constructed 11,250 SF building with flexible floor plan options.
    • Prime corner location in the heart of Allegany, NY, minutes from St. Bonaventure University and Downtown Olean.
    • Top‑quality construction with high‑end finishes throughout.
    • Mechanicals include 3 large HVAC units, 3 phase electric, and a sprinkler system.
    • Roof designed for a bar and patio.
    • Newly paved parking lot with 30+\/- spaces.

    Overview

    This newly constructed building offers approximately 11,250 square feet, with around 5,600 square feet on each floor. The building's design allows for flexible floor plan customization to meet various needs. High-quality improvements are evident throughout the facility. Mechanical features include three large HVAC units, 3-phase electric, and a sprinkler system. Plumbing, electrical systems, rooms, and windows are roughed in. Most rooms feature floor-to-ceiling glass front walls. All bathroom fixtures are included and ready for installation and finishing. The roof is designed to accommodate a bar and patio. Located on the corner of Main Street and N. 2nd Street, the property is in the heart of Allegany, New York, and is minutes from St. Bonaventure University and downtown Olean. The property also features a newly paved parking lot with 30+ spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Other Place — 91 W Main St, Allegany, NY 14706
    • The Hickey Tavern — 96 W Main St, Allegany, NY 14706
    • Burton Tavern — 3 E Main St, Allegany, NY 14706

    Location Insight

    • Map
    • Local Demand
    City
    Allegany
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4975
    Latitude
    42.0928

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    • $132,900

      Four-Unit Property Near St. Bonaventure

      Four-unit property in Allegany, NY, near St. Bonaventure University.
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      New Allegany Office Building For Sale

      New 11,250 SF office building in Allegany, NY.
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    FAQs

    What type of property is this?
    Bar & Pub - New construction near St. Bonaventure with bar/patio potential.
    Where is this bar & pub located?
    The property is located at 126 W Main Street Allegany, NY.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: Newly constructed 11,250 SF building with flexible floor plan options.; Prime corner location in the heart of Allegany, NY, minutes from St. Bonaventure University and Downtown Olean.; Top‑quality construction with high‑end finishes throughout.
    (716) 998-4422
    We can help!
    Listing Contact
    Rick Recckio
    Rick Recckio
    Real Estate License ID: NY #31RE0821429
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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