1414 State St Olean, NY 14760
- Manufacturing properties
- 239,900 SF
- 8.40 lot acres
Current Use by Public Records
- Crandalls Memorials / Monument Maker
- Spectrum Supplements, Inc. / Distribution Service
Property Details for 1414 State St
- Year built
- 1942
- Lot size
- 8.40 lot acres
- Property size
- 239,900 SF
- Property type
- Manufacturing properties
- APN
- 041200 94.075-5-11
- APU
- 4120094075511
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $610,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $750,000
- 6.5%
- $670,000
- 7%
- $735,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $655,000
- Geo Method
- $715,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $770,000
- Retail
- $730,000
- Mixed-Use
- $820,000
- Hospitality
- $700,000
- Educational
- $815,000
- Residential Income
- $770,000
- Energy
- $700,000
- Income-Based Land
- $635,000
- Food Service
- $665,000
Location Insight
- Map
- Local Demand
- City
- Olean
- County
- Cattaraugus
- State
- New York
- Longitude
- -78.4034
- Latitude
- 42.0722
- CBSA code
- 36460
- CBSA name
- OLEAN, NY MICROPOLITAN STATISTICAL AREA
