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Property profile & analytics
OFF-MARKET
Office Spaces

242 Union St Olean, NY 14760

4,750 SF 0.1 ac lot Built 1870
Property ID
Property summary
AI-generated overview

This exceptional 4,750 square foot commercial property, located at 242 N Union St in Olean, NY, presents a unique investment opportunity. Situated on a 0.1-acre lot directly adjacent to Jamestown Community College, this building offers unparalleled visibility and accessibility. Currently configured as a medical office, the main floor features reception areas, private offices, exam rooms, and a kitchen. Ample storage is available throughout, including an unfinished upstairs area with significant potential for customization. Seven dedicated parking spaces are conveniently located just off Hamilton Street. The property's adaptable layout allows for diverse uses, including a thriving medical practice, professional offices, creative studios, or even a mixed-use development incorporating residential living space to capitalize on current market demand. Its central downtown location ensures high traffic and easy access for clients and customers. This versatile building offers a strong foundation for success, making it an ideal investment for entrepreneurs, investors, or business owners seeking a prime location in a desirable area of Olean. The asking price is $199,900.

Property profile
Verified
Property type Office Spaces
Year built 1870
Total area 4,750 SF
Lot 0.1 ac (4,356 SF)
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Venture Forthe Inc. Home Health Care Service Adult Day Care Center
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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