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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1102 Olean Portville Rd Olean, NY 14760

    • Office buildings
    • 9,152 SF
    • 15.18 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2789479
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1102 Olean Portville Rd

    Year built
    1975
    Lot size
    15.18 lot acres
    Property size
    9,152 SF
    Zone code
    CON
    Property type
    Office buildings
    APN
    047489 104.010-1-7
    APU
    4748910401017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $400,000
      Market price range: $346k - $960k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.3549
    Latitude
    42.0534
    CBSA code
    36460
    CBSA name
    OLEAN, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $60,700
    $265,300
    $326,000
    -
    $91,970
    $401,969
    $493,939

    Comparable in this City

    • Value Estimation
      $255,000
      6,004 SF

      103 Barry St

      OFFICE BUILDING • 6,004 SF
      103 Barry St, Olean, NY 14760-3626
      View Details
    • Value Estimation
      $215,000
      952 SF

      500 Wayne St

      OFFICE BUILDING • 952 SF
      500 Wayne St, Olean, NY 14760-2463
      View Details
    • Value Estimation
      $335,000
      8,392 SF

      1439 Buffalo St

      OFFICE BUILDING • 8,392 SF
      1439 Buffalo St, Olean, NY 14760-1140
      View Details
    • Value Estimation
      $285,000
      7,570 SF

      112 Barry St

      OFFICE BUILDING • 7,570 SF
      112 Barry St, Olean, NY 14760-2721
      View Details
    • Value Estimation
      $255,000
      5,600 SF

      2416 Constitution Ave

      PROFESSIONAL BUILDING • 5,600 SF
      2416 Constitution Ave, Olean, NY 14760-1840
      View Details
    • Value Estimation
      $310,000
      5,936 SF

      1504 State St

      PROFESSIONAL BUILDING • 5,936 SF
      1504 State St, Olean, NY 14760-2040
      View Details

    Similar Nearby for Sale

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    • Contact for pricing

      Olean Warehouse/Office Building on Route 16

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      Olean Commercial Property For Sale

      15,000+ sq ft commercial building on 0.57 acres in Olean.
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      Warehouse/Office Building on 2.44 Acres

      26,616 SF warehouse/office building with expansion potential.
      921 North 4Th St, Olean, NY 14760
      View Details
    • Contact for pricing
      5.68 Acres

      Route 16 Commercial Land, Olean NY

      Prime Olean land, ideal for development.
      639 Norton Dr, Olean, NY 14760
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      37,360 SF

      Olean Warehouse & Office Space

      37,360 SF Industrial Space, Prime Location
      317 Wayne St, Olean, NY 14760
      View Details
    • Contact for pricing
      28,139 SF

      Medical Office Complex For Lease

      28,000 SF medical office complex with multiple spaces available.
      921 Wayne St, Olean, NY 14760
      View Details
    • Contact for pricing
      82,626 SF

      2610 State St

      Restaurants • 82,626 SF
      2610 State St, Olean, NY 14760
      View Details
    • Contact for pricing

      Freestanding Building Near University

      20,000 SF building near St. Bonaventure University.
      W State St & U.S 3099, Olean, NY 14760
      View Details
    • Contact for pricing
      4,140 SF

      Olean Office Space For Rent

      Office space available near Olean General Hospital and I-86.
      901 Wayne St, Olean, NY 14760
      View Details
    • $2,000 /Mo
      5,796 SF

      Versatile Commercial Property on Route 16

      High-visibility commercial property with flexible space and ample parking.
      431 S Union St, Olean, NY 14760
      View Details
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    1102 Olean Portville Rd
    Olean, NY 14760
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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.

    More about this property
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