Established Restaurant in High-Traffic
501 W State Street, Olean, NY 14760
- Added:
- Jan 14, 2026
- Days on Market:
- 119
- Last Refresh:
- May 13 at 11:06 pm
Property Features for 501 W State Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COM 1
- Parking
- 15
- Standard status
- Active
- APN
- 041200-094-064-0014-004-000-0000
- Size
- 1,640 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7297
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1965
- Floors in Building
- 1
- Roof type
- Rubber, Membrane
Listing agent Paul Pezzimenti License #10301214758 (716) 378-7039
Listing office Howard Hanna Professionals - Olean 410 Wayne Street, Mayville, NY (716) 372-1155
Listing date Jan 14, 2026
MLS# R1658022
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑traffic location at the corner of 4th Street and West State, offering excellent visibility and easy access.
- Turnkey restaurant opportunity with all kitchen equipment included.
- Approximately 15 off‑street parking spaces, a valuable asset in a busy area.
- Planned $20+ million construction project on West State St, indicating future growth potential.
- Strong local recognition and a long‑standing presence in the community.
- Great kitchen space suitable for continuing the existing tradition or introducing a new concept.
Overview
Located on West State Street in Olean, New York, this established restaurant offers an opportunity to own a business in a high-traffic area. Situated at the corner of 4th Street and West State, the property has been a community fixture for years, providing visibility and customer accessibility. The property includes kitchen space and approximately 15 off-street parking spaces. All kitchen equipment is included. This is a turnkey opportunity for a restaurateur looking to continue a long-standing tradition or introduce a new concept in a proven location. The property is zoned COM 1 and has a lot size of 0.1238 acres. The building size is 1640 square feet. A $20+ million construction project is planned on West State St.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Rafis Food Hub
Restaurant
Location Insight
- Map
- Local Demand
- City
- Olean
- County
- Cattaraugus
- State
- New York
- Longitude
- -78.435471
- Latitude
- 42.077218
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant opportunity in Olean, NY with high visibility.
Where is this conventional restaurant located?
The property is located at 501 W State Street Olean, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: High‑traffic location at the corner of 4th Street and West State, offering excellent visibility and easy access.; Turnkey restaurant opportunity with all kitchen equipment included.; Approximately 15 off‑street parking spaces, a valuable asset in a busy area.
