Commercial Real Estate Market in Olean, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
63 active listings and 939 off-market properties in Olean, NY. Commercial property asks $45/SF to buy and $11.75/SF/Yr to lease (based on 6 listings).
Market Trends
Olean, NY spans 65.1 square miles in Cattaraugus County, New York. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Olean, NY runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Cattaraugus County, retail space asks $221/SF to buy. Retail vacancy in Olean, NY runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Olean, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Multifamily
Across Cattaraugus County, multifamily space asks $88/SF to buy. Multifamily vacancy in Olean, NY runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 58.6%
- Industrial 17.5%
- Open space 13.9%
- Commercial 10.1%
Largest Zones share of zoned land by district
Olean, NY zones 3,952 acres across 10 districts. Commercial zoning covers 10.1% of zoned land, residential 58.6%, open space 13.9% and industrial 17.5%. The largest single district is General Residential at 33.1%. For commercial buyers the practical constraint is that only 27.6% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Olean, NY has 18,031 residents in 8,917 households. Density runs 277 people per square mile. Median household income here is $52,569 and median gross rent $777 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Olean?
How much does it cost to lease commercial space in Olean?
What zoning applies to commercial property in Olean?
Where does Realmo's Olean market data come from?
Methodology & data sources
- Asking prices and medians
- There are 49 active for-sale and 14 active for-lease listings in Olean, NY. The medians are based on 35 of the for-sale and 6 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 3,952 zoned acres across 10 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
