501 W State St
Olean, NY 14760
Retail Property For Sale
EXECUTIVE SUMMARY
This well-established restaurant on West State Street in the heart of Olean offers a rare opportunity to own a business in a high-traffic location. Situated on the corner of 4th Street and West State, this property has been a staple of the community for years, providing excellent visibility and easy access for customers. With a $20+ million construction project planned on West State St, making this the perfect time to invest. The restaurant is fully equipped with a functional kitchen, two walk-in coolers, and approximately 15 off-street parking spaces, a valuable asset in this busy area. This is a turnkey opportunity for a restaurateur looking to continue a long-standing tradition or introduce a new concept in a proven location. With strong local recognition and unmatched exposure, this property is ready for its next owner. Schedule a showing today to explore this exceptional business opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
1,640 SF
Building Class
C
Year Built/Renovated
1982/1996
Price
$200,000
Price Per SF
$121.95
Percent Leased
100%
Building Height
1 Story
Building FAR
0.31
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
GC - Commercial zoning
Parking
10 Spaces (6.1 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 041200-094-064-0014-004-000-0000 | Improvements Assessment | $119,700 |
| Land Assessment | $10,300 | Total Assessment | $130,000 |
