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Listing Agency: CENTURY 21 Turner Brokers

Listed By: Thomas Turner · License #10311200036 Show Phone

Source: Crexi

Added: Aug 14 Changed: Oct 7 Last Checked: Oct 14 at 11:53PM

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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 CENTURY 21 Turner Brokers

Investment Insights

Based on property information with market context.

This medical office offering spans 1.03 acres and includes approximately 6,948 square feet of building space across 95 and 99 E Chautauqua Street. The improvements combine professional office and commercial areas, providing a multi-building configuration for medical or related office operations.

The property sits along a primary commercial corridor in Mayville with convenient access and on-site parking. Chautauqua Lake, county offices, local businesses, and year-round attractions are located nearby, adding established commercial and civic context to the setting.

Key Highlights

• Approximately 6,948 square feet of building space
• 1.03‑acre property spanning 95 and 99 E Chautauqua Street
• Medical office classification with professional office and commercial space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$109,181

Cap Rate

7.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,183,620 $2.2M

Cap Rate 7%

$1,559,729 $1.6M

Cap Rate 9%

$1,213,122 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,948 SF

Gross rent

$208.4K $30.00/SF

− Vacancy

−$26.5K −$3.81/SF

EGI

$182.0K $26.19/SF

− OpEx

−$72.8K −$10.48/SF

NOI

$109.2K $15.71/SF

Area

Chautauqua County, NY

Vacancy

12.70%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,183,620

Cap Rate 7%

$1,559,729

Cap Rate 9%

$1,213,122

Alternative Uses

Best Use

Healthcare Medical

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,181 @ 7.0% cap · market cap 7.28%

Second Best

Office B

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,430 @ 7.0% cap · market cap 7.16%

Theoretical Best

Office A

$2.08M

$1.82M – $2.43M (±1% cap)

NOI $145,574 @ 7.0% cap · market cap 9.70%

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

Property Analytics

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Current Use

Dr. Jeremy M. ... Pediatrician Robert Berke, MD Pediatrician Dr. Kent A. Lieber, ... Pediatrician Empire Energy Gas Company Wagner Annette V ... Physician

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Building Supply

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

Location Intelligence

Trade Area within ½ mile

212

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 14757, NY

3,072

Population

2,181

Households

1.4

Avg Household Size

47

Median Age

37%

College-Educated

93%

High-School Grad

43.7 sq mi

ZIP Area

70

Density / Sq Mi

$63,542

Median Household Income

$40,042

Median Earnings

$677

Median Rent

$179,400

Median Home Value

Market

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

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Two addresses combine professional office and commercial space with on-site parking.

Where is this medical office space located?

The property is located at 95 & 99 E Chautauqua St Mayville, NY.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: Approximately 6,948 square feet of building space; 1.03‑acre property spanning 95 and 99 E Chautauqua Street; Medical office classification with professional office and commercial space