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    316 State St Olean, NY 14760

    Sponsored
    For Sale
    $119,900

    12,000+ sqft, Historic Building, High Visibility

    Property size:
    12,023 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 12,023-square-foot commercial building at 316 W State St, Olean, NY, presents a rare investment opportunity. Situated on a 0.25-acre lot in the heart of Olean, this property boasts a rich history, having served as a successful dry cleaning business for over 105 years. The building's enduring success speaks to its prime location and strong community ties. Beyond its current use, the expansive interior offers a multitude of possibilities. Multiple rooms and generous storage areas provide ample space for a variety of commercial ventures. The layout is highly adaptable, suitable for retail, office space, or even a small-scale manufacturing operation. The building's significant size allows for expansion, a rare advantage in today's market. Its prominent location ensures high visibility and foot traffic, attracting both established businesses seeking growth and new ventures aiming for a strong presence in Olean. This combination of historical significance, adaptable space, and prime location makes this a truly unique investment opportunity, priced at $119,900.

    Property Features for 316 State St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    12,023 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1935
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -78.43327
    Latitude
    42.07774

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    FAQs

    What type of property is this?
    Commercial real estate - 12,000+ sqft, Historic Building, High Visibility
    Where is this commercial real estate located?
    The property is located at 316 State St Olean, NY.
    What is the asking price?
    The asking price for this property is $119,900.
    (716) 372-1155
    Request Owner's contact information
    316 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
    316 State St Olean, NY 14760
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