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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Warehouses
291 Homer St, Olean, NY 14760-1131
Entity Owned
12-yr Hold
Free & Clear
Property ID
US63-0351521
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Total area
6,624 SF
Lot
2.55 ac (111,078 SF)
APN
041200 94.040-1-31
UPID
US63-0351521
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$504k
Blend (final)
Blend
$535k
Owner & transaction history
Mj Painting Contractor Corp · 12 yrs held
Mj Painting Contractor Corp
since 2014
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$620,000
+78.7%
Commercial (general)
$585,000
+69.0%
Office building
$460,000
+32.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Olean submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olean submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$350,000
Current use
RESTAURANT
$620,000
Change: +79% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: +69% · Conversion: Difficult
OFFICE BUILDING
$460,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$445,000
Change: +27% · Conversion: Easy
RETAIL STORES
$400,000
Change: +15% · Conversion: Moderate
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$180,000
Assessed 2023
Previous assessed
$180,000
+0.0% YoY
Assessed land
$51,000
Assessed improvement
$129,000
Land market value
$65,385
Improvement market value
$165,384
Total market value
$230,769
Applied tax rate
41,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Heating
NONE
Buildings
3
Stories
1
Total area
6,624 SF
Lot
2.55 ac (111,078 SF)
APN
041200 94.040-1-31
UPID
US63-0351521
Jurisdiction
CATTARAUGUS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$350,000
RESTAURANT
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$585,000
OFFICE BUILDING
Est. value
$460,000
AUTO REPAIR, GARAGE
Est. value
$445,000
RETAIL STORES
Est. value
$400,000
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Stories
1
Buildings
3
Lot
2.55 ac
Current owner
From public records · entity-resolved
Mj Painting Contractor Corp
Entity
Free & Clear · 12 yrs held
Mailing address
291 HOMER ST, OLEAN, NY 14760-1131
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2014
—
Mj Painting Contractor Corp
Mj Painting Contractor Corp
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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