# 501 W State Street, Olean, NY 14760 > **TL;DR:** commercial, $249,900 ($152/sqft), built 1965, 1,640 sqft. > A/C. Est. $1,337/mo. Listed 28 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $249,900 | | Price/sqft | $152 | | Square Feet | 1,640 | | Year Built | 1965 | | Lot Size | 5,393 sqft (0.12 acres) | | Stories | 1 | | Property Type | Commercial (Other) | | Status | Active | | Days on Market | 28 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $1,264 | | Estimated Insurance | $73 | | **Total** | **$1,337** | ## Nearby Schools - **Elementary:** Washington West Elementary - **Middle:** Olean Middle - **High:** Olean Senior High ## Key Amenities - A/C ## Property Highlights - Built in 1965 - 0.12 acre lot - 15 parking spaces ## Description ### Agent Description 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. ## Location - **Address:** 501 W State Street, Olean, NY 14760 - **County:** Cattaraugus - **Coordinates:** 42.077218, -78.435471 - **Google Maps:** https://www.google.com/maps?q=42.077218,-78.435471 ## Virtual Tour & Media - **Video Tour:** https://tour.giraffe360.com/0fcafb76447e4901b3fc0c3ca1f9ed34 ## Listing Agent - **Name:** Paul Pezzimenti · **License:** 10301214758 - **Brokerage:** Howard Hanna Holt Real Estate - **Broker Phone:** (716) 269-4208 ## Photos ![501 W State Street - Photo 1](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f2228744193r.jpg) ![501 W State Street - Photo 2](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f384942633r.jpg) ![501 W State Street - Photo 3](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f2150897039r.jpg) ![501 W State Street - Photo 4](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1999979049r.jpg) ![501 W State Street - Photo 5](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1933758979r.jpg) ![501 W State Street - Photo 6](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f2772079617r.jpg) ![501 W State Street - Photo 7](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f4081607440r.jpg) ![501 W State Street - Photo 8](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f2158584984r.jpg) ![501 W State Street - Photo 9](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f4217684358r.jpg) ![501 W State Street - Photo 10](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1556738383r.jpg) ![501 W State Street - Photo 11](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f252044422r.jpg) ![501 W State Street - Photo 12](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1192344006r.jpg) ![501 W State Street - Photo 13](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f106202035r.jpg) ![501 W State Street - Photo 14](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1587189849r.jpg) ![501 W State Street - Photo 15](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1226878998r.jpg) ![501 W State Street - Photo 16](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f3330854463r.jpg) ![501 W State Street - Photo 17](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1488284603r.jpg) ![501 W State Street - Photo 18](http://lh.rdcpix.com/924d1d77eb79e66ddd6e464193d27d98l-f1451184382r.jpg) --- **MLS#:** R1719161 | **Updated:** 2026-10-22 **Source:** listhub *Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/501-w-state-street-olean-ny-14760-647c663601b34fe3b8395de56a7ca860) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/501-w-state-street-olean-ny-14760-647c663601b34fe3b8395de56a7ca860#listing", "url": "https://www.propertysimple.ai/listing/501-w-state-street-olean-ny-14760-647c663601b34fe3b8395de56a7ca860", "name": "501 W State Street, Olean, NY 14760", "description": "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. 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