317 Wayne St Olean, NY 14760
- Warehouses
- 13,320 SF
- 0.34 lot acres
Current Use by Public Records
- Warehouses
Property Details for 317 Wayne St
- Year built
- 1915
- Lot size
- 0.34 lot acres
- Property size
- 13,320 SF
- Property type
- Warehouses
- APN
- 041200 94.057-6-1
- APU
- 412009405761
Description
This exceptional 37,360+/- square foot industrial property in Olean, NY, presents a remarkable leasing opportunity. Situated on over four acres of land at 317 Wayne Street, this two-story building boasts a versatile layout ideal for warehouse and manufacturing operations, complemented by substantial office space. The property features two buildings, constructed in phases, culminating in a well-maintained structure with four loading docks, one drive-in door, and one grade-level door. Ample parking is available on both sides of the building, with additional rear access. The warehouse area benefits from 3-phase power, multiple gas heaters, and a centrally located roof AC unit, ensuring climate control in the 18' ceiling height section. The roof, comprised of flat rubber and A-frame sections, has undergone updates and is in excellent condition. The office space, renovated between 2010 and 2020, offers a blend of first-floor offices and storage, and three large executive offices with bathrooms and storage on the second floor. This prime location in downtown Olean provides easy access to major roadways, including the Southern Tier Expressway 86, Route 417, and Route 16, placing it within close proximity to Bradford, PA, and offering convenient access to shopping, retail, and entertainment options. The property is zoned for Commercial Business & Light Manufacturing and is immediately available for occupancy. The building was constructed in 1915 and extensively renovated in 2020. Total parking accommodates 45 vehicles.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $320,000
- 6.5%
- $325,000
- 7%
- $310,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $350,000
- Geo Method
- $315,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $320,000
- Retail
- $295,000
- Mixed-Use
- $320,000
- Hospitality
- $330,000
- Educational
- $325,000
- Residential Income
- $345,000
- Energy
- $370,000
- Income-Based Land
- $375,000
- Food Service
- $350,000
Location Insight
- Map
- Local Demand
- City
- Olean
- County
- Cattaraugus
- State
- New York
- Longitude
- -78.4328
- Latitude
- 42.0849
- CBSA code
- 36460
- CBSA name
- OLEAN, NY MICROPOLITAN STATISTICAL AREA