Auto Shop with
2238 West State St, Olean, NY 14760
For Sale
Contact for pricing
A block building combines automotive service space with a customer-facing showroom.
Property Size2,488 SF
Price / SF$281.35
Days on Market25
Property Features for 2238 West State St
General Information
Standard status
Size
Property subtype
Additional Details
Service Bays
Real Estate Included
Building Details
Buildings
Construction
Listing Agency:
CENTURY 21 Turner Brokers
Listed By:
Thomas Turner · License NY #10311200036
(716) 640-3912
Source:
Crexi
Added: Oct 16
Changed: Nov 8
Last Checked: Nov 8 at 4:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Turner Brokers
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,488-square-foot block building is configured with four service bays and a showroom, supporting its identity as an auto shop. The existing layout also provides a basis for considering other commercial uses or a new construction project, as described in the property information.
The property is on West State Street in Olean, NY, among established businesses and retailers including Tops Market, McDonald’s, Aldi, Advance Auto Parts, Shults Express Lube & Tire, and Hamlin Bank.
The property is on West State Street in Olean, NY, among established businesses and retailers including Tops Market, McDonald’s, Aldi, Advance Auto Parts, Shults Express Lube & Tire, and Hamlin Bank.
Key Highlights
- 2,488‑square‑foot block building
- Four service bays and a showroom
- West State Street location in Olean, NY
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,571
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,420
$451.4K
Cap Rate 7%
$322,443
$322.4K
Cap Rate 9%
$250,789
$250.8K
Market Conditions
NOI Build-Up for 2,488 SF
Gross rent
$35.8K $14.40/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$32.2K $12.96/SF
− OpEx
−$9.7K −$3.89/SF
NOI
$22.6K $9.07/SF
Area
Cattaraugus County, NY
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,420
Cap Rate 7%
$322,443
Cap Rate 9%
$250,789
Alternative Uses
Best Use
Retail
$322.4K
$282.1K – $376.2K
NOI $22,571 @ 7.0% cap · market cap 3.22%
Second Best
Industrial
$219.8K
$192.4K – $256.5K
NOI $15,388 @ 7.0% cap · market cap 2.20%
Theoretical Best
Healthcare Medical
$491.7K
$430.3K – $573.7K
NOI $34,421 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
384k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 28%
Groceries 14%
Superstores 8%
Ollie's Bargain Outlet
Shops & Services
49,937 visits/mo
0.3 miles
Tops Friendly Markets
Groceries
31,126 visits/mo
0.0 miles
BJ's Wholesale Club
Superstores
29,336 visits/mo
0.5 miles
McDonald's
Dining
23,654 visits/mo
0.1 miles
Aldi
Groceries
23,421 visits/mo
0.2 miles
Demographics for 14760, NY
18,031
Population
8,917
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
277
Density / Sq Mi
$52,569
Median Household Income
$35,754
Median Earnings
$777
Median Rent
$99,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Terry's Automotive — 2238 W State St, Olean, NY 14760
- Bouch's Automotive — 1403 W State St, Olean, NY 14760
- John Derx Auto Electric — 1401 W State St, Olean, NY 14760
- Walmart Auto Care Centers — 1869 Plaza Dr, Olean, NY 14760
- Shults Express Lube & Tire — 106 Independence Dr, Olean, NY 14760
Frequently Asked Questions
What type of property is this?
Auto shop - A block building combines automotive service space with a customer-facing showroom.
Where is this auto shop located?
The property is located at 2238 West State St Olean, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,488‑square‑foot block building; Four service bays and a showroom; West State Street location in Olean, NY
