Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    921 Wayne St Olean, NY 14760

    • Office buildings
    • 2,153 SF
    • 0.33 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2640604
    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

    • CHRISTIAN O MCMONIGAL / Physician
    • Dean Mast / Physician
    • Dr. Kathleen Batt / Physician
    • Brad Pecherzewski / Physician

    Property Details for 921 Wayne St

    Year built
    2011
    Lot size
    0.33 lot acres
    Property size
    2,153 SF
    Property type
    Office buildings
    APN
    041200 94.056-5-45.2
    APU
    41200940565452

    Description

    This exceptional medical office space, located at 921 Wayne Street in Olean, New York, offers multiple tenancy options within a prime location in Cattaraugus County. The property is situated on the east side of the Olean trade area, providing excellent visibility and accessibility. Its strategic location offers unparalleled convenience, being just one mile from Olean General Hospital and two and a half miles from St. Bonaventure University. This proximity to major healthcare facilities and a prominent university ensures a strong patient and client base. Furthermore, the property benefits from its close proximity to the I-86 on/off ramps, less than a mile away, providing easy access to the rest of New York's Southern Tier region. This ensures convenient commutes for both staff and patients. The property type is classified as an office building, specifically designed and suited for medical practices. The building is available for multiple tenants, offering flexibility for various medical professionals or groups seeking collaborative space. The property's address is 921 Wayne Street, Olean, NY 14760. This presents a unique opportunity to establish or expand a medical practice in a thriving and accessible location within the Southern Tier. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4408
    Latitude
    42.0849
    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
    $23,000
    $157,000
    $180,000
    -
    $29,487
    $201,282
    $230,769

    Comparable in this City

    • Value Estimation
      $3,510,000
      35,546 SF

      500 Main St

      PROFESSIONAL BUILDING • 35,546 SF
      500 Main St, Olean, NY 14760-1514
      View Details
    • Value Estimation
      $5,795,000
      67,513 SF

      535 Main St

      PROFESSIONAL BUILDING • 67,513 SF
      535 Main St, Olean, NY 14760-1500
      View Details
    • Value Estimation by Request
      2,000 SF

      2607 State St

      OFFICE BUILDING • 2,000 SF
      2607 State St, Olean, NY 14760-1824
      View Details
    • Value Estimation by Request
      2,295 SF

      1521 Un St

      OFFICE BUILDING • 2,295 SF
      1521 Un St, Olean, NY 14760-1344
      View Details
    • Value Estimation
      $1,635,000
      16,661 SF

      2223 State St

      PROFESSIONAL BUILDING • 16,661 SF
      2223 State St, Olean, NY 14760-1938
      View Details
    • Value Estimation by Request
      2,470 SF

      2605 State St

      PROFESSIONAL BUILDING • 2,470 SF
      2605 State St, Olean, NY 14760-1824
      View Details

    Similar Nearby for Sale

    • $499,900
      Pending

      Olean Commercial Asset with Stable Income

      High-visibility commercial building with long-term tenant and development potential.
      1909 W State St, Olean, NY 14760
      View Details
    • Contact for pricing

      Olean Warehouse/Office Building on Route 16

      23,112 SF warehouse/office on 3.13 acres near Route 16.
      639 Un Street. Ext N, Olean, NY 14760
      View Details
    • $499,900
      15,320 SF

      Olean Commercial Property For Sale

      15,000+ sq ft commercial building on 0.57 acres in Olean.
      417 W State St, Olean, NY 14760
      View Details
    • Contact for pricing

      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
      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
    • Contact for pricing
      13,600 SF

      Olean Office Space Available

      Office space with signage and easy highway access.
      420 N 9Th St, Olean, NY 14760
      View Details
    • $2,000 /Mo
      Pending

      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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    921 Wayne St
    Olean, NY 14760
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.