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    Property profile & analytics

    12520 Olean Rd Chaffee, NY 14030

    • Industrial properties
    • 13,300 SF
    • 3.30 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Last Sale
    Sep 14, 2022
    $850,000
    Value Estimations
    $795,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2699221
    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

    • Route 16 Pickleball / Sports Field & Court
    • 84 Lumber / Building Supply / Industrial Manufacturer

    Property Details for 12520 Olean Rd

    Year built
    1990
    Lot size
    3.30 lot acres
    Property size
    13,300 SF
    Property type
    Industrial properties
    APN
    146200 326.00-2-14.2
    APU
    146200326002142

    Description

    This exceptional commercial property in Chaffee, NY, presents a unique investment opportunity. The property comprises four separate buildings totaling approximately 32,050 square feet, situated on a generous 3.3-acre lot. The largest building, at approximately 14,700 square feet, offers a versatile layout suitable for retail and storage uses, with a 50/50 split between the two. Two additional buildings each exceed 5,600 square feet, and a fourth building offers approximately 6,080 square feet. The buildings currently offer a mix of open and enclosed storage space, providing flexibility for various business needs. The property is zoned BL-Business/Light Industrial, allowing for a range of potential uses. Its strategic location between Routes 39 and 98, minutes from Yorkshire and Arcade, and close proximity to Springville, offers excellent accessibility. Furthermore, the property benefits from its location just 13 miles from the new Great Lakes Cheese Co. development, a significant 480,000+ square foot facility expected to employ over 430 workers. This proximity to a major employer presents a compelling advantage for future tenants and investors. The property's size, versatility, and location make it an ideal candidate for a variety of commercial ventures. This is a rare opportunity to acquire a substantial property in a growing area with significant potential for future development and appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000
      ML approach
      $740,000

    • Alternative Use

      Use
      Estimation
      LUMBERYARD, BUILDING MATERIALS
      $570,000
      Current use
      RESTAURANT
      $1,270,000
      Change: +123% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,110,000
      Change: +95% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,100,000
      Change: +93% Conversion: Difficult
      OFFICE BUILDING
      $890,000
      Change: +56% Conversion: Difficult
      RETAIL STORES
      $560,000
      Change: -2% Conversion: Difficult
      MEDICAL BUILDING
      $505,000
      Change: -11% Conversion: Difficult
      WAREHOUSE, STORAGE
      $490,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chaffee
    County
    Erie
    State
    New York
    Longitude
    -78.4801
    Latitude
    42.5378
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN 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
    2023
    $0.00
    $77,300
    $186,100
    $263,400
    -
    $198,205
    $477,180
    $675,385

    Comparable in this City

    • Value Estimation
      $530,000
      13,284 SF

      13990 Schutt Rd

      LUMBERYARD, BUILDING MATERIALS • 13,284 SF
      13990 Schutt Rd, Chaffee, NY 14030-9763
      View Details
    • Value Estimation by Request
      6,600 SF

      13990 Schutt Rd

      LUMBERYARD, BUILDING MATERIALS • 6,600 SF
      13990 Schutt Rd, Chaffee, NY 14030-9763
      View Details
    • Value Estimation by Request
      49,000 SF

      13700 Olean Rd

      Distribution properties • 49,000 SF
      13700 Olean Rd, Yorkshire, NY 14030
      View Details
    • Value Estimation by Request
      1.00 Acre

      K St

      WAREHOUSE, STORAGE • 1.00 Acre
      K St, Chaffee, NY 14030
      View Details
    • Value Estimation by Request
      13,700 SF

      13929 Schutt Rd

      DISTRIBUTION WAREHOUSE • 13,700 SF
      13929 Schutt Rd, Chaffee, NY 14030-9763
      View Details
    • Value Estimation by Request
      1.39 Acres

      Yorkshire Rd

      STORAGE YARD (JUNK, SALVAGE) • 1.39 Acres
      Yorkshire Rd, Chaffee, NY 14030
      View Details

    Similar Nearby for Sale

    • $110,000

      Water Works Business Opportunity

      Water works business serving approximately 110 customers for sale.
      13449 Grove St, Chaffee, NY 14030
      View Details
    • Contact for pricing
      2,250 SF

      Yorkshire Plaza Retail Space

      High-traffic, vacant restaurant space.
      12189 Ny-16, Chaffee, NY 14030
      View Details
    • $35,900

      Yorkshire Land with Stream Access

      6+ acre parcel with 1200 feet of stream access.
      10568 Rt-16, Yorkshire, NY 14030
      View Details
    • $35,900
      6.30 Acres

      Chaffee, NY Fishing Stream Access

      6+ acre parcel with 1200 feet of stream access.
      10568 Rt-16, Chaffee, NY 14030
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,600 SF

      Spacious Warehouse with Open Shed

      13,600 SF warehouse with 3,500 SF open shed.
      13929 E Schutt Rd, Chaffee, NY 14030
      View Details
    • $4 SF/Yr
      6,080 SF

      Retail and Storage Opportunity

      Retail and storage building for rent on 3.3 acres.
      12520 Olean Rd, Chaffee, NY 14030
      View Details
    • Contact for pricing
      2,250 SF

      Chaffee Retail Space - 2250 SF

      Prime Restaurant Location, High Traffic Area
      12189 Ny-16, Chaffee, NY 14030
      View Details
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    Chaffee, NY 14030
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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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