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Property profile & analytics
OFF-MARKET Estimated value $1,055,000
Manufacturing properties

1414 State St Olean, NY 14760-3820

239,900 SF 8.4 ac lot Built 1942
Entity Owned 6-yr Hold Free & Clear
Property ID
US63-2965355
Property summary
AI-generated overview

This expansive industrial property in Olean, NY, offers 276,444 square feet of manufacturing and warehouse/distribution space, available for lease in units ranging from 3,000 to 276,444 contiguous square feet. The entire 276,444 square foot building is currently vacant. Situated on an 8.4-acre lot, this facility boasts impressive features including 16' to 24' ceiling heights, three truck-level doors, and ample parking for approximately 200 vehicles. The property also includes a 10,000+ square foot air-conditioned office area. Built in 1942, the building features a rubber membrane roof, concrete floors, a fully sprinklered system, a back-up generator, and a security system. Heavy industrial power and rail access are available, along with an on-site switch and transformer. The property is zoned EZ (Empire Zone), providing access to development incentives and tax benefits. Its strategic location offers easy access to I-86 Southern Tier Expressway (Exit 17), making it ideally situated to serve Western New York, Northern Pennsylvania, and Southern Ontario, Canada. An adjacent 10.5-acre parcel with rail access and two smaller buildings (approximately 5,000 square feet total) is also available for separate purchase. This parcel features 718+ feet of frontage on East State Street and 621+ feet of frontage on North Clark Street. This property is perfect for a variety of manufacturing, distribution, and office uses.

Property profile
Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1942
Total area 239,900 SF
Lot 8.4 ac (365,904 SF)
APN 041200 94.075-5-11
UPID US63-2965355
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
  • Crandalls Memorials General Contractor
  • Spectrum Supplements, Inc. Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.06M
Owner & transaction history
Realty LLC 125 Lk Ave · 6 yrs held
Realty LLC 125 Lk Ave
since 2019
2 recorded transactions
2019
$740,000
2014
$330,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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