Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    315 W State Street Olean, NY 14760

    View on Map
    For Lease
    $900 /Mo

    COMMERCIAL - Olean, NY

    Property size:
    3,962 SF
    Lot size:
    0.10 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    14
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 315 W State Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    COM 1
    Parking
    2
    Standard status
    Active
    APN
    041200-094-065-0010-050-000-0000
    Size
    3,962 SF
    Lot size
    0.10 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    1

    We can help!

    Listing Contact
    Paul Pezzimenti
    Paul Pezzimenti

    Listing agent Paul Pezzimenti License #10301214758

    Listing office Howard Hanna Professionals - Olean 410 Wayne Street, Mayville, NY

    Listing date Mar 19, 2026

    MLS# R1667849

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    High-Visibility Commercial Space on Route 417

    This commercial space is located in a high-traffic corridor on Route 417, offering high visibility. The property features large front windows suitable for showcasing a brand to passersby. The layout is flexible, with two front and two rear entrances designed to ensure customer flow and logistical ease. The lease includes one or two dedicated parking spaces in the rear for employee use. The property is located within walking distance of the corner of N. Union and W. State Street. The property size is 3962 square feet and the lot size is 0.101 acres. The zoning is COM 1. The property is located in Olean, NY, in Cattaraugus County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    WindWorks (Bike/Boat/Book/etc) Store Interfaith Caregivers, Inc. Charitable Organization Interfaith Medical Loan ... Charitable Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mandy's Flowers — 216 W State St, Olean, NY 14760
    • Uptown Florist — 117 N Union St, Olean, NY 14760
    • Mandys Flowers &Tuxedo Junction — 216 W State St, Olean, NY 14760

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.433259
    Latitude
    42.077336

    Nearby Similar for Lease

    • $5/mo

      Olean Office Space For Lease

      Office spaces available within a large warehouse/distribution facility.
      1414 East State Street, Olean, NY 14760
      View Details
    • Contact for pricing

      Turnkey Restaurant & Event Space

      Ready-to-go restaurant and entertainment venue with wow factor.
      800 E State Bar/Restaraunt Street, Olean, NY 14760
      View Details
    • Contact for pricing

      Event-Ready Commercial Space in Olean

      8,234 sq ft commercial space suitable for various ventures.
      800 E State Events Street, Olean, NY 14760
      View Details
    • Contact for pricing

      High-Visibility Storefront on Route 417

      Affordable commercial space with high visibility and included utilities.
      315 W State St, Olean, NY 14760
      View Details
    • $4/mo

      Olean Warehouse/Distribution/Manufacturing Facility

      42,000+/- SF warehouse on 8.4 acres with rail access.
      1414 East State Street, Olean, NY 14760
      View Details
    • $16/mo

      Retail Space in Walmart Plaza

      Retail space available within a high-traffic shopping center.
      3142 West State Street, Olean, NY 14760
      View Details
    • Contact for pricing

      Regional Mall Retail Space Available

      Retail spaces available in regional mall with high traffic.
      400 North Union Street, Olean, NY 14760
      View Details
    • Contact for pricing

      Freestanding Building Near University

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

      Olean Office Space For Rent

      Office space available near Olean General Hospital and I-86.
      901 Wayne St, Olean, NY
      View Details
    • Contact for pricing

      Olean Office Space Available

      Office space with signage and easy highway access.
      420 N 9th St, Olean, NY
      View Details
    • Contact for pricing

      Olean Warehouse Distribution Manufacturing Facility

      42,000 SF warehouse on 8.4 acres available for lease.
      1414 E State St, Olean, NY 14760
      View Details

    FAQs

    What type of property is this?
    Storefront property - Affordable commercial space with high visibility and included utilities.
    Where is this storefront property located?
    The property is located at 315 W State Street Olean, NY.
    What is the lease rate?
    The lease rate is $900 /Mo.
    What are key features of this property?
    This property features: Prime location on high‑traffic Route 417 with exceptional visibility.; All utilities and internet included in the $900 monthly rent for budget certainty.; Large front windows provide 'billboard‑style' exposure.
    (716) 378-7039
    We can help!
    Listing Contact
    Paul Pezzimenti
    Paul Pezzimenti
    Real Estate License ID: 10301214758
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!