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Property profile & analytics
OFF-MARKET
Estimated value
$3,560,000
Commercial land
502 Un St, Olean, NY 14760-2619
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-2700251
Property summary
AI-generated overview
Delaware Park Centre, located at 502 N Union St, Olean, NY 14760, offers a diverse range of office spaces for lease. This three-building complex, totaling 76,749 square feet, sits on 5.2 acres of land and features 272 parking spaces. Built in 1980, the property is zoned GC and located in the Olean submarket of Cattaraugus County. The property offers flexible space options, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 18,622 square feet. Currently, 8,500 square feet is available. The property is suitable for various uses, including traditional office, executive office, coworking, medical office, and creative office spaces. The single-story buildings provide convenient access and ample parking. The property's central location in Olean offers excellent visibility and accessibility. This is an exceptional opportunity to secure prime office space in a thriving community. The property's diverse zoning allows for a variety of business types. Contact us today to learn more about leasing opportunities at Delaware Park Centre.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
5.2 ac (226,512 SF)
APN
041200 94.057-3-39
UPID
US63-2700251
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
Current use
Occupant on record · Public records
-
Eade Fitness 24/7 Gym & Fitness Center
-
Subway Take-out & Catering Catering Service
-
New York Nails Nail Salon
-
CosmoProf (Bike/Boat/Book/etc) Store Cosmetic Store
-
Big Lots Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.56M
Owner & transaction history
Olean 2020 LLC · 4 yrs held
Olean 2020 LLC
since 2022
Last sale
$3.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,520,000
ML approach
$3,470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.56M
Range $3.20M – $3.92M · ±10% · vs last sale $3.63M (Jan 3 2022)
Last sale anchor
$3.63M
Jan 3 2022
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
—
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
$260,000
Assessed 2023
Previous assessed
$260,000
+0.0% YoY
Assessed land
$260,000
Land market value
$333,333
Total market value
$333,333
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
5.2 ac (226,512 SF)
APN
041200 94.057-3-39
UPID
US63-2700251
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
Building & site characteristics
From public records
Heating
NONE
Lot
5.2 ac
Current owner
From public records · entity-resolved
Olean 2020 LLC
Entity
Mailing address
295 MAIN ST RM #700, BUFFALO, NY 14203-2507
Ownership since
2022
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
Jan 3, 2022
$3,631,000
Olean 2020 LLC
Park Centre Development
Deed
—
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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