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a Charlotteville Realty Team

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607-282-6242kevin@homesfarmsandland.com

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Property at 501 W State Street, Olean, NY 14760
ACTIVE
$25,000
$250,000

501 W State StreetOlean, NY, 14760

1,640 SqFt0.1238 Acres
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.
1 / 17

Est. Monthly

$1,185/MO

$250,000
$25,000

501 W State Street, Olean, NY

1,640 SqFt0.1238 Acres

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.

StatusActive
Property TypeCommercial Sale
Property SubtypeBusiness
Year Built1965
Days on Market146 days

Est. Monthly Payment

$1,184.99

%
%
yr

Private Mortgage Insurance

Not required

Affordability Checkoptional
$

Enter your annual income to check affordability

Property Details

Property Information

501 W State Street

Olean, NY 14760 • Cattaraugus
—
Beds
—
Baths
1,640
SqFt
0.1238
Acres
Status
Active
Property Type
Commercial Sale
Property Subtype
Business
Year Built
196561 years ago
Days on Market
146 days
Tax History
Estimated values, may not reflect current amounts.
  • Annual Tax Amount
    $7,297
Property History
  • Price reduced
    May 28, 2026 • NYSAMLS • R1658022
    $275,000 → $250,000
  • Listed for sale
    Jan 14, 2026 • NYSAMLS • R1658022
    $299,900
Mortgage Calculator
Estimated monthly payment for this property
$1,184.99
Down Payment
Interest Rate
Loan Term
%
%
yearsyrs.
Affordability Checkoptional
$

Enter your annual income to see if this home fits your budget

Private Mortgage Insurance

Not required — down payment above 20%
MLS Information
  • Source
    NYSAMLS
  • MLS#
    R1658022
  • Listing Office
    Howard Hanna Professionals - Olean
  • Last Updated
    11 days ago

Climate & Systems

  • Heating
    • Gas
    • Forced Air

Interior Features

  • Basement
    None

Parking

  • Parking Spaces
    15

Lot & Grounds

  • Lot Size
    0.1238 acres
  • Lot Features
    • Rectangular
    • Rectangular Lot

Type

  • Property Type
    Commercial Sale
  • Property Subtype
    Business

Structure

  • Roof
    • Membrane
    • Rubber

Condition

  • Year Built
    1965
  • Condition
    Resale
  • Days on Market
    146 days
  • Water
    Public
  • Sewer
    Public Sewer
  • Utilities
    • Electricity Connected
    • Sewer Connected
    • Water Connected

607-282-6242, (607) 282-6242, or +1 607 282 6242

Kevin Lucero

Kevin Lucero

Lic. Real Estate Salesperson

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