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Financial
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Property profile

1414 State St Olean, NY 14760

OFF-MARKET
Manufacturing properties
Property ID
US63-2965355
239,900 SF 8.4 ac lot Built 1942
Entity Owned 6-yr Hold Free & Clear
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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

Current use

Occupant on record · Public records
  • General Contractor
  • Distribution Center Logistics Company

Location

1414 State St Olean, NY 14760-3820
Olean metro Census 961800 OLEAN, NY MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$610k

Owner & transaction history

since 2019
2 recorded transactions
2019
$740,000
2014
$330,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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