1305 State St Olean, NY 14760-2035
- Investment properties
- 5,130 SF
- 0.11 lot acres
Sep 13, 2024
Current Use by Public Records
- Shawley Office Equipment Inc / Computer Repair Service / Copier Repair Service
Property Details for 1305 State St
- Year built
- 1918
- Lot size
- 0.11 lot acres
- Property size
- 5,130 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 041200 94.064-10-5
- APU
- 4120094064105
Description
This exceptional commercial property, situated at 1305 W State St in Olean, NY, presents a compelling investment opportunity. Boasting 6,680 square feet on a 0.4-acre lot, the building offers significant versatility. The main level is ideally suited for a variety of uses, from retail establishments to professional office spaces, capitalizing on its prominent location on a heavily trafficked West Olean street. The property's strong financial potential is further enhanced by the inclusion of several rental units, generating consistent supplemental income. Adding to its appeal is a sizable rear lot providing ample parking, a valuable asset in a busy commercial area. Convenient access is provided from both South 12th Street and South 13th Street, ensuring excellent visibility and accessibility for tenants and customers. The property is priced at $224,900, representing a significant return on investment given its diverse income streams and prime location. This is a rare opportunity to acquire a well-positioned commercial property with substantial growth potential in a thriving Olean market. The attached map provides further details on the property's layout and access points.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Olean
- County
- Cattaraugus
- State
- New York
- Longitude
- -78.4454
- Latitude
- 42.0771
- CBSA code
- 36460
- CBSA name
- OLEAN, NY MICROPOLITAN STATISTICAL AREA
