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    310 State St Olean, NY 14760

    Sponsored
    For Sale
    $126,500

    Prime Location, Versatile Space, Needs TLC

    Property size:
    6,768 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This remarkable three-story building, constructed in 1929, presents a unique investment opportunity in the heart of Olean, NY. The property encompasses 6,768 square feet of space, including a stunning mezzanine, offering exceptional versatility for a wide range of commercial uses. The main building features approximately 4,548 square feet of usable space on the first two floors, with additional space available in the basement and third floor. Adding to its appeal is a two-car garage with a driveway, and an adjacent parcel of land offering potential for expanded parking. Situated on a 0.19-acre lot, this property benefits from its prime downtown location, offering excellent visibility and accessibility. While priced affordably at $126,500, prospective buyers should note that the building requires some renovation. Specifically, the hot water baseboard heating system has a leak in an unidentified pipe, resulting in a lack of heat at present. Showings are available starting Monday, January 20, 2025. While historically significant in its architecture and location, the building is not officially listed as a historical landmark.

    Property Features for 310 State St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,768 SF
    Lot Size
    8,276 SF

    Building Details

    Year Built
    1929
    Property Profile Location Intelligence

    Current Use by Public Records

    Tap Room Tito's ... Bar & Grill The Salvation Army - Olean, ... Non-Profit Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.42617
    Latitude
    42.0774

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Location, Versatile Space, Needs TLC
    Where is this commercial real estate located?
    The property is located at 310 State St Olean, NY.
    What is the asking price?
    The asking price for this property is $126,500.
    (716) 379-8383
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    310 State St Olean, NY 14760
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    Olean, NY 14760
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    Realmo Value Estimation

    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.

    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.

    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
    310 State St Olean, NY 14760
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