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242 N Union St 4,750 SF 100% Leased Office Building Olean, NY 14760 $274,423 CAD ($57.77 CAD/SF)



Executive Summary
Discover an exceptional commercial opportunity in the heart of downtown Olean directly adjacent to Jamestown Community College. This versatile property, currently configured as a fully operational medical office, offers endless possibilities for entrepreneurs, investors, or business owners looking to expand their footprint. The main floor is designed with reception areas, private offices, exam rooms, and a functional kitchen at the rear—ideal for staff breaks or catering services. Enjoy abundant storage options, including an unfinished upstairs area that can be customized to fit your unique business needs. Unlock additional revenue streams by converting a portion of the building into residential living space, capitalizing on the growing demand for mixed-use properties. Seven dedicated parking spaces just off Hamilton Street make visiting or residing here hassle-free. Nestled in downtown Olean, this property offers unbeatable visibility and easy access for clients, customers, and residents. Whether you envision a thriving medical practice, professional office, creative studio, or live-work space, this property provides the foundation for success. Its adaptable layout and central location make it an ideal investment for a wide range of commercial and residential uses. Seize this rare opportunity to own a flexible commercial property with income-generating potential in one of Olean's most sought-after areas. Schedule your private tour today and explore the future of your business or investment portfolio!
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
4,750 SF
Building Class
C
Year Built
1870
Price
$274,423 CAD
Price Per SF
$57.77 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,375 SF
Building FAR
0.24
Lot Size
0.45 AC
Opportunity Zone
Yes
Zoning
CC
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 041200-094-065-0003-052-000-0000 | Improvements Assessment | $397,948 CAD |
| Land Assessment | $33,083 CAD | Total Assessment | $431,031 CAD |
Property Taxes
Parcel Number
041200-094-065-0003-052-000-0000
Land Assessment
$33,083 CAD
Improvements Assessment
$397,948 CAD
Total Assessment
$431,031 CAD
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242 N Union St
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