Medical Office
For Sale
$1,000,000
921 Wayne Street, Olean, NY 14760
Five-building healthcare property configured for medical office use.
Property Size2,153 SF
Price / SF$464.47
Days on Market97
Property Features for 921 Wayne Street
General Information
Standard status
Active
Size
2,153 SF
Property subtype
CommercialLease
Building Details
Buildings
5
Listing Agency:
Donovan Real Estate Services
Listed By:
Brian P Donovan · License #10491202934
(716) 998-2943
Source:
Nicholcityrealty
Added: Jul 10
Changed: Oct 8
Last Checked: Oct 12 at 7:57PM
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 Donovan Real Estate Services
Investment Insights
Based on property information with market context.
This medical office complex comprises five separate buildings and is identified as a healthcare property suitable for medical office use. The combined property size is 2,153 square feet.
The property is located at 921 Wayne Street in Olean, New York, within ZIP code 14760.
The property is located at 921 Wayne Street in Olean, New York, within ZIP code 14760.
Key Highlights
- Five‑building medical office complex
- 2,153‑square‑foot property
- Medical office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,786
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,720
$595.7K
Cap Rate 7%
$425,514
$425.5K
Cap Rate 9%
$330,956
$331.0K
Market Conditions
NOI Build-Up for 2,153 SF
Gross rent
$54.3K $25.20/SF
− Vacancy
−$4.6K −$2.14/SF
EGI
$49.6K $23.06/SF
− OpEx
−$19.9K −$9.22/SF
NOI
$29.8K $13.83/SF
Area
Cattaraugus County, NY
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,720
Cap Rate 7%
$425,514
Cap Rate 9%
$330,956
Alternative Uses
Best Use
Healthcare Medical
$425.5K
$372.3K – $496.4K
NOI $29,786 @ 7.0% cap · market cap 2.98%
Second Best
Office B
$323.9K
$283.4K – $377.9K
NOI $22,671 @ 7.0% cap · market cap 2.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14760, NY
18,031
Population
8,917
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
277
Density / Sq Mi
$52,569
Median Household Income
$35,754
Median Earnings
$777
Median Rent
$99,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Olean Veterinary Clinic — 1620 W State St, Olean, NY 14760
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Five-building healthcare property configured for medical office use.
Where is this medical office space located?
The property is located at 921 Wayne Street Olean, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Five‑building medical office complex; 2,153‑square‑foot property; Medical office use
