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    514 W State St Olean, NY 14760

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    For Sale
    $169,900

    Six-unit commercial/residential building with high visibility and rental income.

    Lot size:
    0.16 Acres

    Property Features for 514 W State St

    General Information

    Lot size
    0.16 Acres

    Building Details

    Year built
    1910

    Source: ERA Team VP Real Estate Agent Amy L Henzel

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

    Overview

    Mixed-Use Building with Rental Income

    This six-unit mixed-use building offers a great investment opportunity, featuring two commercial fronts and four upper apartments. The building is highly visible and located on West State Street, encompassing 6100 square feet. A new roof was installed in 2022, and some windows have been replaced. The upper four rentals total 3060 square feet, consisting of one two-bedroom, one-bathroom unit and three one-bedroom, one-bathroom units. Off-street parking is available with three to four spaces in the rear. The property presents an opportunity to feature your own business while generating rental income or commercial investment.
    Insight Report Location Intelligence

    Current Use by Public Records

    Gabriel Wigs & Hair ... Beauty Salon

    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
    -78.4358826
    Latitude
    42.0776567

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    FAQs

    What type of property is this?
    Mixed-use property - Six-unit commercial/residential building with high visibility and rental income.
    Where is this mixed-use property located?
    The property is located at 514 W State St Olean, NY.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: - Income-generating property with two commercial spaces and four apartments, all currently occupied.; - Highly visible location on West State Street.; - New roof installed in 2022.
    (716) 560-8624
    Request Owner's contact information
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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
    514 W State St Olean, NY 14760
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