126 Main StAllegany, NY 14706

Property Details for 126 Main St

Year built

2019

Lot size

0.36 AC

Property size (Sq ft)

11,680 SF

Property type

Investment properties

Property subtype

Live-work space

APN

042001 93.043-4-19

APU

4200193043419

Description

This exceptional 11,250 square foot executive office building, constructed in 2019 and renovated in 2020, is situated on a 0.4-acre lot at a prime corner location in Allegany, NY. The two-story Class B building offers approximately 5,600 square feet per floor, designed for maximum flexibility in layout to meet diverse business needs. High-quality finishes are evident throughout, including three large HVAC units, three-phase electric, and a sprinkler system. Plumbing and electrical are roughed in, and most rooms feature floor-to-ceiling glass walls. All bathroom fixtures are included, ready for installation and customization. The roof is designed to accommodate a bar and patio area. The property boasts a newly paved parking lot with 30+ spaces. Located at 126 W Main St, Allegany, NY 14706, this property is conveniently situated in the heart of the village, minutes from St. Bonaventure University and Downtown Olean. The asking price is $899,900, with a price per square foot of $79.99. The permitted zoning is commercial. This owner/user investment opportunity presents a rare chance to acquire a high-quality, modern office space in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,118,876

  6.5%

  $1,955,886

  7%

  $1,816,180

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,117,446

  Geo Method

  $1,053,450

• Alternative Use

  Use

  Valuation

  Residential

  $2,425,298

  Hospitality

  $2,221,560

  Educational

  $1,848,312

  Medical

  $1,911,878

  Retail

  $2,875,152

Location Insight

City

Allegany

County

Cattaraugus

State

New York

Latitude

42.093

Longitude

-78.4976

CBSA code

36460

CBSA name

OLEAN, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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