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    241 N Union St Olean, NY 14760

    For Sale
    $365,000

    Turn-key restaurant with strong local reputation and loyal customer base.

    Lot size:
    0.03 Acres

    Property Features for 241 N Union St

    General Information

    Lot size
    0.03 Acres

    Building Details

    Year built
    1880

    Source: EXP-Premier Listings Team Agent Claudia Attard-Keary

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

    Overview

    Established Restaurant Business For Sale

    This well-established business, a long-standing fixture in Olean, is available for purchase. The business has a strong local reputation and a loyal customer base. The current owners are retiring, presenting an opportunity for new ownership. This turn-key operation is suited for someone passionate about the food industry and ready to take over a business with a history of success.
    Insight Report Location Intelligence

    Current Use by Public Records

    On the Side Sub Shop Sandwich Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4303911
    Latitude
    42.0806668

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    FAQs

    What type of property is this?
    Restaurant - Turn-key restaurant with strong local reputation and loyal customer base.
    Where is this restaurant located?
    The property is located at 241 N Union St Olean, NY.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: - Turn-key and well-established business with a strong local reputation; - Loyal customer base already in place; - Proven successful and thriving operation
    (716) 307-8894
    Request Owner's contact information
    241 N Union 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
    241 N Union St Olean, NY 14760
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