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    1020 State St Olean, NY 14760

    Sponsored
    For Sale
    $299,999

    Spacious industrial warehouse, ideal location.

    Property size:
    2,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 2,500 square foot industrial warehouse, built in 1910 and renovated in 2014, sits on a 0.91-acre lot in Olean, NY (14760). Located at 1020 E State St, the property boasts approximately 190 feet of frontage on E. State St. and additional access via Grossman Ave. Currently zoned industrial, this single-story building offers versatile space, previously used as a boat storage and maintenance shop. The interior includes two small offices and a bathroom, with the majority of the space dedicated to open warehouse area. While the building features multiple loading docks at the rear, they are not currently in use. This property benefits from its convenient location near Route 417, minutes from Route 16 and the I-86 New York State Thruway, providing easy access to various transportation routes. Its proximity to restaurants, businesses, and residential areas in downtown Olean adds to its appeal. The asking price is $299,999, translating to $120 per square foot. This represents a unique opportunity for businesses seeking a well-situated industrial space with significant street frontage. The property comprises three separate parcels.

    Property Features for 1020 State St

    General Information

    Property type
    Distribution properties
    Square Feet
    2,500 SF
    Lot Size
    39,640 SF

    Building Details

    Year Built/Renovated
    1910/2014
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 2,500 SF industrial warehouse on a 0.91‑acre lot.
    • 190+ feet of frontage on E. State St. with Grossman Ave. access.
    • Industrially zoned.
    • Located in Olean, NY (14760) at 1020 E State St.
    • Asking price: $299,999 ($120/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    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
    -78.409874
    Latitude
    42.074588

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    FAQs

    What type of property is this?
    Distribution property - Spacious industrial warehouse, ideal location.
    Where is this distribution property located?
    The property is located at 1020 State St Olean, NY.
    What is the asking price?
    The asking price for this property is $299,999.
    What are key features of this property?
    This property features: 2,500 SF industrial warehouse on a 0.91-acre lot.; 190+ feet of frontage on E. State St. with Grossman Ave. access.; Industrially zoned.
    Request Owner's contact information
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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
    1020 State St Olean, NY 14760
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