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    Property profile & analytics

    515 W State St Olean, NY 14760

    • Auto shops
    • 32,844 SF
    • 0.51 lot acres
    For Sale
    View listing
    $685,000
    Value Estimation
    Location Intelligence
    Property ID
    US63-1220784
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dunn Tire / Tire Shop / Auto Repair Shop

    Property Details for 515 W State St

    Year built
    1920
    Lot size
    0.51 lot acres
    Property size
    32,844 SF
    Property type
    Auto shops
    APN
    041200 94.064-14-2
    APU
    4120094064142

    Description

    This exceptional investment opportunity presents a two-unit, 32,844-square-foot retail building in Olean, NY, boasting a 10% cap rate and 100% occupancy. Located on a 0.51-acre lot at 515 W State St, this Class B property is situated in a high-traffic area of Olean's main commercial corridor, offering excellent visibility and proximity to numerous shops and restaurants. Currently occupied by Dunn Tire and WNY Glass & Door Co., the building features three garage doors, ample storage, and a two-story design. The asking price is $699,000, translating to $21.28 per square foot. Its prime location offers easy access to St. Bonaventure University, further enhancing its appeal and potential for strong rental income. This stabilized investment is ideal for discerning buyers seeking a high-return, multi-tenant property in a thriving commercial area. The property's strong tenant base and desirable location make it a compelling investment opportunity with significant long-term potential. This is a rare chance to acquire a well-positioned, income-producing asset in a growing market.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $490,000

    • CAP approach

      CAP return
      Estimation
      6%
      $445,000
      6.5%
      $485,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $445,000
      Geo Method
      $455,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $450,000
      Retail
      $440,000
      Mixed-Use
      $485,000
      Hospitality
      $415,000
      Educational
      $520,000
      Residential Income
      $530,000
      Energy
      $485,000
      Income-Based Land
      $510,000
      Food Service
      $560,000

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4359
    Latitude
    42.0771
    CBSA code
    36460
    CBSA name
    OLEAN, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $30,200
    $339,800
    $370,000
    -
    $38,718
    $435,641
    $474,359

    Comparable in this City

    • Value Estimation
      $395,000
      8,050 SF

      2450 Constitution Ave

      AUTO REPAIR, GARAGE • 8,050 SF
      2450 Constitution Ave, Olean, NY 14760-1840
      View Details
    • Value Estimation by Request
      2.15 Acres

      1712 State St

      AUTO REPAIR, GARAGE • 2.15 Acres
      1712 State St, Olean, NY 14760
      View Details
    • Value Estimation by Request
      6,818 SF

      813 State St

      AUTO REPAIR, GARAGE • 6,818 SF
      813 State St, Olean, NY 14760-3803
      View Details
    • Value Estimation
      $505,000
      26,068 SF

      921 4th St

      AUTO REPAIR, GARAGE • 26,068 SF
      921 4th St, Olean, NY 14760-1242
      View Details
    • Value Estimation
      $270,000
      6,250 SF

      602 State St

      AUTO REPAIR, GARAGE • 6,250 SF
      602 State St, Olean, NY 14760-2337
      View Details
    • Value Estimation by Request
      4,600 SF

      1576 Haskell Rd

      AUTO REPAIR, GARAGE • 4,600 SF
      1576 Haskell Rd, Olean, NY 14760
      View Details

    Similar Nearby for Sale

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      Commercial Building with Redevelopment Potential

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      Absolute NNN leased Dollar General in Olean, NY for sale.
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    Similar Nearby for Lease

    • $325,000
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      Versatile Commercial Property, Olean, NY

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      Regional Mall Retail Space Available

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      82,626 SF

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    • Contact for pricing

      Freestanding Building Near University

      20,000 SF building near St. Bonaventure University.
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    515 W State St
    Olean, NY 14760
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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