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.
Property Details
Price:
$249,900
MLS #:
R1719161
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Neighborhood:
oleancity041200
Listed Date:
Oct 1, 2026
Finished Sq Ft:
1,640
Total Sq Ft:
1,640
Lot Size:
5,393 sqft / 0.12 acres (approx)
Year Built:
1965
See this Listing
Schools
School District:
Olean
Elementary School:
Washington West Elementary
Middle School:
Olean Middle
High School:
Olean Senior High
Interior
Cooling
Central Air
Heating
Gas, Forced Air
Levels
One
Exterior
Lot Features
Rectangular, Rectangular Lot
Parking Spots
15
Parking Total
15
Roof
Membrane, Rubber
Stories
1
Financial
Taxes
$7,676
Map
Community
- Address501 West State Street Olean NY
- CityOlean
- CountyCattaraugus
- Zip Code14760
Market Summary
Current real estate data for Commercial in Olean as of Oct 11, 2026
11
Commercial Listed
165
Avg DOM
62
Avg $ / SqFt
$236,220
Avg List Price
Property Summary
- 501 West State Street Olean NY is a Commercial for sale in Olean, NY, 14760. It is listed for $249,900
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Courtesy of Howard Hanna Professionals – Olean. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the New York State Alliance of MLSs. Detailed information about real estate listings held by brokerage firms other than Michael Paduano include the name of the listing broker. Neither the listing company nor Michael Paduano shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. New York State Alliance of MLSs. All rights reserved. 501 West State Street
Olean, NY