501 W State Street Olean, NY $ 299,900
501 W State Street
$ 299,900
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501 W State Street

Olean, NY, 14760
$ 299,900
Bedrooms-- Baths-- Sq 1,640

Monthly Estimate*

$ 1,847

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Commercial Property for sale in Olean, NY

for $299,900. This 1,640 square foot building was built in 1965 on a lot size of 0.1238.

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 at the corner of 4th Street and West State, this property has been a community staple for years, offering excellent visibility and easy access for customers. With a $20+ million construction project planned on West State St, this is the perfect time to invest. With great kitchen space and approximately 15 off-street parking spaces, a valuable asset in this busy area. All kitchen equipment is included. 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.

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Commercial Active

Price

$ 299,900

Property Type

Commercial

Taxes

$ 7,297

Style

Business

Lot Size

0.1238

Year Built

1965

Town/City

Olean

County/Region

Cattaraugus

MLS | Web ID

R1658022

Features
General
Sewer PublicSewer
Heating Gas ForcedAir
Cooling CentralAir
Utilities ElectricityConnected SewerConnected WaterConnected
Possession CloseOfEscrow
Roof Membrane Rubber
Zoning COM 1
School District Olean
Year Built 1965
Stories Count 1
Township Not Applicable
Levels One
Property Subtype Business
County Cattaraugus
Property Type CommercialSale
Possible Use Restaurant Retail
Status Active
Directions On Route 417
High School Olean Senior High
City Olean
High School District Olean
Zoning Description Commercial
Number Of Units Total 0
MLS Area Olean-City-041200
Lot Size Units Acres
Lot Size Square Feet 5393.0
Elementary School Washington West Elementary
Year Built Details Existing
Tax Annual Amount 7297.0
Middle/Junior High School Olean Middle
Property Condition Resale
Lease Considered Y/N No
Standard Status Active
Middle/Junior School District Olean
Elementary School District Olean
Tax Assessed Value 130000
TaxOtherAnnualAssessmentAmount 0.0
Tax Lot 4
Property Sub Type Additional Business Office Retail Commercial
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Interior
Basement None
Total Fireplaces 0
Total Stories 1
Basement (Y/N) No
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Main Level Bathrooms 0
Total Baths 0
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Exterior
Lot Features Rectangular RectangularLot
Water Source Public
Total Parking 15.0
Inclusions Land Building and Business
Lot Size Area 0.1238
Number of Buildings 1
Building Area Total 1640.0
Lot Dimensions 86X62
Lot Size Acres 0.1238
Waterfront Y/N No
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Internal Only
Street Number 1 501
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* Excluded Features
List By
Howard Hanna Professionals - Olean

Broker

(716) 378-7039

Phone

Affordability Calculator

$2,455
Per Month
75%
25%
0%
Monthly Principal & Interest
$1,847
Monthly Property Taxes
$608
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3323605 Elementary School
3323364 Middle School
Olean Senior High High School
Pricing History
DatePricePrice ChangeDescription
1/14/2026$299,900 Listed Price

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501 W State Street, Olean, NY, 14760 is a Commercial Property for sale at $299,900 with 1,640 sqft and a lot size of 0.1238. 501 W State Street was built in 1965. The property's zip code is 14760 which is in Olean, NY