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186-188 N Union St 9,954 SF Retail Building Olean, NY 14760 $950,000 ($95.44/SF)
Investment Highlights
- Turnkey Restaurant & Multi-Unit Investment Opportunity
- Prime location in Olean’s growing downtown district
- This mixed-use property offers both immediate income and long-term upside
Executive Summary
Turnkey Restaurant & Multi-Unit Investment Opportunity – Olean, NY Don't miss this incredible opportunity to own a fully operational restaurant with rental income potential in the heart of Olean. Originally two buildings combined into one, this impressive 3-story structure offers a unique blend of commercial and residential space, ideal for investors or owner-operators. The main level is home to a spacious, fully-equipped restaurant featuring two bars, ample dining space, a commercial kitchen, and a full basement for storage. Whether you're expanding an existing concept or launching a new one, this space is ready for business. The second floor includes a fully rented 2-bedroom apartment, a vacant unit currently under renovation, and a shared laundry area for tenant convenience. On the third floor, you'll find two 1-bedroom apartments and one 2-bedroom apartment, all of which have been fully remodeled with modern finishes. This mixed-use property offers both immediate income and long-term upside, with high visibility and a prime location in Olean’s growing downtown district. Whether you're looking for a restaurant, a live/work setup, or a strong addition to your investment portfolio, this property has it all.
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
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Taxes & Operating Expenses (Actual - 2025) Click Here to Access
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| Annual Per SF | - |
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| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,954 SF
Building Class
B
Year Built
1890
Price
$950,000
Price Per SF
$95.44
Tenancy
Single
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
CC - Com 1
Parking
10 Spaces (1 Spaces per 1,000 SF Leased)
Frontage
22’ on UNION ST
Walk Score®
Very Walkable (75)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $406,000 (2024) | |
| Land Assessment | $11,500 (2024) | Total Assessment | $417,500 (2024) |
Property Taxes
Parcel Numbers
Land Assessment
$11,500 (2024)
Improvements Assessment
$406,000 (2024)
Total Assessment
$417,500 (2024)
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186-188 N Union St
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