1018 Portville Olean RdPortville, NY 14770

Property Details for 1018 Portville Olean Rd

Year built

1940

Lot size

1.05 AC

Property size (Sq ft)

928 SF

Zone code

CON

Property type

Retail properties

Property subtype

Drive through restaurants

APN

047489 104.010-1-28.3

APU

474891040101283

Description

This exceptional investment opportunity presents a well-established restaurant in Portville, NY, situated on a 1.05-acre lot. Priced at $299,900, the property boasts 928 square feet of commercial space, including a small interior dining area and an outdoor picnic area. All restaurant equipment and furniture are included in the sale, ensuring a seamless transition for the new owner. Ample parking is available on-site, along with a separate storage building for added convenience. The property's significant acreage also includes a mobile home, currently generating additional rental income. The existing mobile home tenant holds a life-use lease with a monthly rental payment. The current owner is retiring due to health concerns but is willing to provide short-term assistance during the transition to ensure a smooth handover. Detailed financial information is available upon request for qualified buyers. This turnkey operation offers a unique chance to acquire a thriving business with significant potential for growth within a strong community. The combination of the established restaurant, additional rental income from the mobile home, and ample land makes this a truly compelling investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $247,469

  6.5%

  $228,433

  7%

  $212,116

• Comparable approach

  Method

  Valuation

  Relative Method

  $223,733

  Geo Method

  $147,119

• Alternative Use

  Use

  Valuation

  Residential

  $192,692

  Hospitality

  $176,504

  Educational

  $146,850

  Medical

  $151,900

  Retail

  $228,433

Location Insight

City

Portville

County

Cattaraugus

State

New York

Latitude

42.0487

Longitude

-78.352

CBSA code

36460

CBSA name

OLEAN, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].