# 501 W State Street, Olean, NY 14760

> **TL;DR:** commercial, $250,000 ($152/sqft), built 1965, 1,640 sqft.
> A/C. Est. $1,083/mo. Listed 138 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $250,000 |
| 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 | For Sale |
| Days on Market | 138 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,083 |
| **Total** | **$1,083** |

## 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

## Listing Agent

- **Name:** Paul Pezzimenti
- **Brokerage:** Howard Hanna Professionals - Olean
- **Phone:** 7163787039
- **Email:** PaulPezzimenti@howardhanna.com

## Primary Photo

![501 W State Street - Primary Photo](http://lh.rdcpix.com/93981265d22ba21bc8d84e163db67cb7l-f472011139r.jpg)

*17 total photos available on [listing page](https://www.propertysimple.com/listing/501-w-state-street-olean-ny-14760-r1658022)*

---

**MLS#:** R1658022 | **Updated:** 2026-06-17
**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.com/listing/501-w-state-street-olean-ny-14760-r1658022)

---

## Structured Data

```json
{
  "@context": "https://schema.org",
  "@type": "RealEstateListing",
  "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 valuabl",
  "url": "https://www.propertysimple.com/listing/501-w-state-street-olean-ny-14760-r1658022",
  "image": "http://lh.rdcpix.com/93981265d22ba21bc8d84e163db67cb7l-f472011139r.jpg",
  "datePosted": "2026-06-17",
  "price": 250000,
  "priceCurrency": "USD",
  "address": {
    "@type": "PostalAddress",
    "streetAddress": "501 W State Street",
    "addressLocality": "Olean",
    "addressRegion": "NY",
    "postalCode": "14760",
    "addressCountry": "US"
  },
  "geo": {
    "@type": "GeoCoordinates",
    "latitude": 42.077218,
    "longitude": -78.435471
  },
  "floorSize": {
    "@type": "QuantitativeValue",
    "value": 1640,
    "unitCode": "FTK"
  },
  "yearBuilt": 1965
}
```