Mixed-Use Retail and
For Sale
$159,900
514 W State St, Olean, NY 14760
Well-trafficked mixed-use building with street-level storefront space and four fully rented apartments above.
Property Size9,180 SF
Price / SF$17.42
Days on Market190
Property Features for 514 W State St
General Information
Standard status
Active
Size
9,180 SF
Listing Agency:
ERA Team VP Real Estate
(716) 560-8624
Listed By:
Amy L Henzel
(716) 560-8624
Source:
Exprealty
Added: Jan 28
Changed: Jul 10
Last Checked: Jul 31 at 5:09PM
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 ERA Team VP Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property contains six total units, with two street-level commercial storefronts and four upper-level apartments. One storefront is currently occupied, while the other is available within the same retail configuration. The apartment mix includes one 2-bedroom, 1-bath unit and three 1-bedroom, 1-bath units, creating a straightforward residential income stream above the retail frontage. The building has had updates including a new roof in 2022 and newer windows.
Located on West State Street, the property benefits from visibility afforded by street-level retail access. The commercial units are on the ground floor with separate storefront presentation, and the residential units are positioned on the upper level.
For an owner-operator, the setup allows for business occupancy at the street while collecting rental income from the upper apartments. For investors, the building’s existing residential occupancy and combination of commercial storefront space support a single-asset approach to mixed-use cash flow. The recent roof replacement and window updates are also practical considerations for buyers evaluating ongoing building maintenance.
Located on West State Street, the property benefits from visibility afforded by street-level retail access. The commercial units are on the ground floor with separate storefront presentation, and the residential units are positioned on the upper level.
For an owner-operator, the setup allows for business occupancy at the street while collecting rental income from the upper apartments. For investors, the building’s existing residential occupancy and combination of commercial storefront space support a single-asset approach to mixed-use cash flow. The recent roof replacement and window updates are also practical considerations for buyers evaluating ongoing building maintenance.
Key Highlights
- Mixed‑use building with 6 total units and approx. 6,100 sq ft of income‑producing space
- Two street‑level commercial storefronts on West State Street (one currently occupied)
- Four fully rented upper‑level apartments totaling 3,060 sq ft
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-trafficked mixed-use building with street-level storefront space and four fully rented apartments above.
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 $159,900.
What are key features of this property?
This property features: Mixed‑use building with 6 total units and approx. 6,100 sq ft of income‑producing space; Two street‑level commercial storefronts on West State Street (one currently occupied); Four fully rented upper‑level apartments totaling 3,060 sq ft
