Auto Repair Shop with Two
2646 Route 16 N, Olean, NY 14760
For Sale
$295,000
Established automotive service property with office, customer reception, repair bays, storage, and substantial outdoor parking.
Property Size1,464 SF
Lot Size1.40 Acres
Price / SF$201.50
Days on Market49
Property Features for 2646 Route 16 N
General Information
Standard status
Size
Total Parking Spaces
Lot size
Additional Details
Road Access
Service Bays
Amenities
office/reception area
storage area
restroom
overhead sign
Building Details
Buildings
Listing Agency:
Century 21 Turner Brokers
(716) 763-7506
Listed By:
Rae Ellen Kyler · License #10401343841
(716) 904-3038
Source:
Nicholcityrealty
Added: Sep 20
Changed: Oct 26
Last Checked: Nov 6 at 8:32AM
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
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Investment Insights
Based on property information with market context.
This auto repair property includes a 1,464-square-foot building on 1.4 acres, with the rear parcel extending to the railroad tracks. The interior provides a large office and reception area, storage, a restroom, and a garage equipped with two lifts and two 10' overhead doors. An overhead sign and approximately 40+ parking spaces support customer access and on-site operations.
Located at 2646 Route 16 N in Olean, the property includes a well and septic system remaining on the back lot. Two former underground storage tanks have been removed. An established customer list may be provided to the purchaser, and equipment is available separately under a personal property rider. The building has operated as an automotive shop for 23 years.
Located at 2646 Route 16 N in Olean, the property includes a well and septic system remaining on the back lot. Two former underground storage tanks have been removed. An established customer list may be provided to the purchaser, and equipment is available separately under a personal property rider. The building has operated as an automotive shop for 23 years.
Key Highlights
- 1,464‑square‑foot repair building on 1.4 acres
- Garage includes two lifts and two 10' overhead doors/bays
- Large office and reception area with storage and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,281
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,620
$265.6K
Cap Rate 7%
$189,729
$189.7K
Cap Rate 9%
$147,567
$147.6K
Market Conditions
NOI Build-Up for 1,464 SF
Gross rent
$21.1K $14.40/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$19.0K $12.96/SF
− OpEx
−$5.7K −$3.89/SF
NOI
$13.3K $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%
$265,620
Cap Rate 7%
$189,729
Cap Rate 9%
$147,567
Alternative Uses
Best Use
Retail
$189.7K
$166.0K – $221.4K
NOI $13,281 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$129.3K
$113.2K – $150.9K
NOI $9,054 @ 7.0% cap · market cap 3.07%
Theoretical Best
Healthcare Medical
$289.3K
$253.2K – $337.6K
NOI $20,254 @ 7.0% cap · market cap 6.87%
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
2
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
- Sage's Automotive — 2646 NY-16, Olean, NY 14760
- Paul Brown Chevrolet — 2808 NY-16, Olean, NY 14760
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive service property with office, customer reception, repair bays, storage, and substantial outdoor parking.
Where is this auto shop located?
The property is located at 2646 Route 16 N Olean, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,464‑square‑foot repair building on 1.4 acres; Garage includes two lifts and two 10' overhead doors/bays; Large office and reception area with storage and restroom
