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Property profile & analytics

515 W State St Olean, NY 14760

  • Auto shops
  • 32,844 SF
  • 0.51 lot acres
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
More about this property
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