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    457 N Union St Olean, NY 14760

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    For Sale
    $170,000

    Mixed-use building in high-traffic area with income potential.

    Property Features for 457 N Union St

    General Information

    Zoning
    Commercial

    Source: Rick Recckio Agent Rick Recckio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Retail Building with Apartments

    This property, constructed in 1902, is a retail building with approximately 5778 square feet of space. It is located in a prime downtown location with large storefront windows. The property includes two one-bedroom efficiency apartments upstairs, each approximately 30 by 28 feet, which can be used for income or combined into condominium-style living. The property is zoned for commercial use and is situated in a high-traffic area, making it an excellent street retail location. It offers potential for mixed-use development and is ideal for a retail investor. The location is in a lively commercial area that blends small-town charm with business activity and benefits from its proximity to popular amenities, including the Beef-N-Barrel Restaurant, Green Acres Cafe, Tim Hortons, and Ray's Salon & Barbershop.
    Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Similar Places Nearby

    Mandy's Flowers, Uptown Florist, Mandys Flowers &Tuxedo Junction

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4302667
    Latitude
    42.0841823

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    FAQs

    What type of property is this?
    Storefront property - Mixed-use building in high-traffic area with income potential.
    Where is this storefront property located?
    The property is located at 457 N Union St Olean, NY.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: - Prime downtown location in a high-traffic area of Olean.; - Potential for mixed-use development (retail and residential).; - Includes two one-bedroom efficiency apartments for income or condominium conversion.
    (716) 998-4422
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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
    457 N Union St Olean, NY 14760
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