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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Rent
Square Footage 7,308 sqft
MLS Listing ID R1702834
Construction Status Existing
HOA Y/N No
Year Built 1950
Annual Tax Amount $6,890
Lot Size 3,598 Sqft
Acres 0.0826
Lot Dimensions 36X100
Property Description
The commercial ground level offers two expansive rooms, perfectly suited for reviving a bar or restaurant, launching a new retail concept, or bringing your own vision to life. A generous undeveloped area adds even more versatility — expand the kitchen, create additional public floor space, or use it for storage.
Upstairs, the second floor delivers immediate value with a beautifully remodeled, sprawling layout offering potential for a 4- to 7-bedroom apartment with two full bathrooms. This space is already generating income: a current tenant is paying $2,000/month and covers their own electric, while the owner covers gas and water — a great head start for an investor. The layout also offers flexibility for a large owner-occupied unit, high-yield student housing, or easy division into two separate apartments for dual income streams.
With residential renovations largely complete and a prime commercial space ready for your touch, this property sits right at the center of downtown Olean's revitalization. Whether you're reviving the Village Green legacy or building something entirely new — with built-in residential income already in place — this is a rare chance to own a true cornerstone of the community.
Location
State NY
County Cattaraugus
Area Olean-City-041200
Zoning Com-1
Rooms
Basement Full
Interior
Heating Gas, Forced Air
Inclusions Land and Building
Fireplace No
Exterior
Utilities Available Sewer Connected
Roof Type Flat,Membrane,Rubber
Building
Lot Description Rectangular, Rectangular Lot
Story 2
Sewer Public Sewer
Level or Stories Two
Construction Status Existing
Schools
Elementary Schools Washington West Elementary
Middle Schools Olean Middle
High Schools Olean Senior High
School District Olean
Others
Tax ID 041200-094-057-0005-043-000-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Nearby Locations
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