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Property profile & analytics
OFF-MARKET
Bars & Pubs

720 Wayne St Olean, NY 14760-2356

3,096 SF 0.15 ac lot Built 1920
Individually Owned 22-yr Hold Free & Clear
Property ID
US63-6028056
Property summary
AI-generated overview

This exceptional Olean, NY property at 720 Wayne Street presents a prime investment opportunity. The 4,292 square foot building sits on a 0.15-acre lot and boasts a fully operational restaurant in a high-traffic area, ensuring excellent visibility and customer accessibility. Ample parking accommodates 18 vehicles. Adding to the investment potential, two apartments above the restaurant generate a combined monthly rental income of $1,500. Currently, a retail space is owner-occupied, offering flexibility for expansion of the restaurant, leasing for additional income, or conversion to another use. The property's versatility allows for diverse business strategies, catering to both experienced restaurateurs and aspiring entrepreneurs. This established business, with its proven income stream and high-traffic location, presents a unique chance to acquire a profitable and adaptable commercial property in a thriving Olean market. The potential for growth and diverse revenue streams makes this an exceptional investment opportunity.

Property profile
Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1920
Total area 3,096 SF
Lot 0.15 ac (6,500 SF)
APN 041200 94.048-2-61
UPID US63-6028056
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history
John Ricci · 22 yrs held
John Ricci
since 2004
1 recorded transaction
2004
$70,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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