186 Union StOlean, NY 14760

Property Details for 186 Union St

Year built

1890

Lot size

0.04 AC

Property size (Sq ft)

4,977 SF

Property type

Investment properties

Property subtype

Live-work space

APN

041200 94.065-3-45

APU

4120094065345

Description

This exceptional investment opportunity presents a thriving contemporary restaurant and multi-family property located in the heart of downtown Olean, NY. The property, encompassing 6,636 square feet on a 0.04-acre corner lot, was originally two buildings cleverly combined into one lucrative investment. The main floor currently houses Brothers Bistro, a trendy, upscale restaurant complete with an inviting outdoor fire pit and seating area. The sale includes all equipment, furnishings, and existing catering contracts, ensuring a seamless transition for the new owner. Above the restaurant are four income-generating apartments, and the property offers the potential to develop two additional apartments, significantly increasing rental income. This turnkey operation provides immediate cash flow from both the restaurant and rental units, promising a substantial return on investment. The property's prime downtown location ensures high visibility and accessibility, making it an ideal investment for a discerning buyer seeking a well-established, high-performing business with significant growth potential. The combined restaurant and apartment complex offers a unique blend of commercial and residential income streams, creating a diversified and resilient investment portfolio. This is a rare opportunity to acquire a thriving business and rental property in a desirable location.

Location Insight

City

Olean

County

Cattaraugus

State

New York

Latitude

42.0799

Longitude

-78.4295

CBSA code

36460

CBSA name

OLEAN, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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