208 Main St Olean, NY 14760-2606
- Investment properties
- 3,053 SF
- 0.22 lot acres
Current Use by Public Records
- Aquaria Salon / Hair Salon / Beauty Salon
- MASSAGES / Massage Therapist
- Stylista Salon & Spa / Beauty Salon
Property Details for 208 Main St
- Year built
- 1900
- Lot size
- 0.22 lot acres
- Property size
- 3,053 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 041200 94.057-3-4
- APU
- 412009405734
Description
This versatile Olean, NY property at 208 Main St offers a unique investment opportunity. The 3,053 square foot building sits on a 0.22-acre corner lot, ensuring high visibility and accessibility. The ground floor currently operates as a fully equipped salon suite, featuring new flooring, updated electrical systems, siding, and doors. The existing salon equipment is included in the sale, presenting a turnkey business opportunity for a buyer interested in continuing salon operations. However, the flexible layout allows for easy adaptation to various other commercial uses, such as a beauty school or boutique. Upstairs, a two-bedroom apartment provides a consistent rental income stream, currently generating between $3,500 and $4,000 in monthly rent with both units occupied. This dual-income potential makes this property an attractive investment for those seeking both commercial and residential returns. The property's location in a high-traffic area of Olean guarantees significant foot traffic and exposure, making it an ideal location for a thriving business. This property is also listed under B1570911 as a multi-family property. Don't miss this chance to acquire a profitable and adaptable commercial property in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $140,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $165,000
- 6.5%
- $175,000
- 7%
- $170,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $195,000
- Geo Method
- $160,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $145,000
- Retail
- $155,000
- Mixed-Use
- $180,000
- Hospitality
- $170,000
- Educational
- $170,000
- Residential Income
- $165,000
- Energy
- $145,000
- Income-Based Land
- $145,000
- Food Service
- $145,000
Location Insight
- Map
- Local Demand
- City
- Olean
- County
- Cattaraugus
- State
- New York
- Longitude
- -78.4282
- Latitude
- 42.0868
- CBSA code
- 36460
- CBSA name
- OLEAN, NY MICROPOLITAN STATISTICAL AREA
