514 W State St

Baths
9,180 Sq. Ft.
$17 / Sq. Ft.
9,180
Sq. Ft.
$17
per Sq. Ft.

Description

Great investment opportunity on highly visible West State Street! This mixed-use commercial/residential property offers 6 total units and approximately 6,100 sq ft of income-producing space. The building features two street-level commercial storefronts (one currently occupied) and four fully rented upper-level apartments totaling 3,060 sq ft, including one 2-bed/1-bath and three 1-bed/1-bath units. Updates include a new roof (2022) and some newer windows. Great opportunity for an owner-operator looking...Great investment opportunity on highly visible West State Street! This mixed-use commercial/residential property offers 6 total units and approximately 6,100 sq ft of income-producing space. The building features two street-level commercial storefronts (one currently occupied) and four fully rented upper-level apartments totaling 3,060 sq ft, including one 2-bed/1-bath and three 1-bed/1-bath units. Updates include a new roof (2022) and some newer windows. Great opportunity for an owner-operator looking to run a business while generating rental income, or for investors seeking a solid commercial asset in a prime location.
  1. Listed by Amy L Henzel • ERA Team VP Real Estate
    P: (716)-372-2234 C: (716)-560-8624 Amy@AmyHenzel.com

Property Details for 514 West State Street

On Waterfront
No
Zoning Code
COM-1
Nearest Cross Street
Sixth Street
LISTING UPDATED: 01/28/2026 10:44 AM

Property Details for 514 West State Street

StatusActive
MLS #B1659799
Days on Market5
Taxes$5,613 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1910
Lot Size0.16 AC / 6,846 SF
CountyCattaraugus County

Location

Listing Courtesy of ERA Team VP Real Estate
Add your commute

Building Information for 514 West State Street

Stories2Residences-Year Built1910Lot Size0.16 AC / 6,846 SF

Payment Calculator

$1,247 per month

30 year fixed, 6.15% Interest

Principal and Interest

$779

Property Taxes

$468

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 514 West State Street

Summary
Location and General Information
  • Elementary School District: Olean
  • High School District: Olean
  • Middle Or Junior School District: Olean
  • Village: Not Applicable
  • Human YN: Yes
Parking
  • Parking Total: 4.00
Taxes and HOA Information
  • Area NYSWIS Code: Olean-City-041200
  • Tax Annual Amount: $5,613.00
Property
Lot Information
  • Building Area Total: 9180.0
  • Land Features: Irregular Lot
  • Num Of Acres: 0.1572
  • Lot Size Area: 0.1572
  • Lot Size Square Feet: 6846.0
  • Lot Size Units: Acres
  • Num Of Buildings: 1
  • Parcel Number: 041200-094-064-0009-013-000-0000
  • Possible Uses: Office, Other, Residential, Retail, Service Business, Service
  • Lot Number: 13
Property and Assessments
  • Property Condition: Resale
  • Assessed Value: $100,000
  • Year Built: 1910
  • Year Built Description: Existing
  • Zoning Description: Commercial
  • Property Sub Type Additional: Mixed Use, Commercial
Utilities
  • Utilities Available: Sewer Available, Water Connected
  • Water Supply: Public
Interior and Exterior Features
Exterior Features
  • Roof Description: Flat
  • Type Of Building: Bar Tavern Lounge
Interior Features
  • Basement Description: Full
  • Basement YN: Yes
  • HVAC Type: Zoned
  • Num Fireplaces Total Calculated: 0
  • Fireplace YN: No
  • Heating: Gas, Zoned
  • Heating YN: Yes
  • Levels: Two
  • Sq Ft Total: 9180.0
  • Main Level Bathrooms: 0
Multi Family
Multi-Family Information
  • Number Of Units Total: 0
  • Operating Expense Includes: Other, See Remarks
  • Stories: 2
  • Stories Total: 2
Rental
Rental Information
  • Lease YN: No

Property History for 514 West State Street

DateEvent & SourcePriceAppreciation
Jan 28, 2026

Listed (Active)

WNYREIS #B1659799

$159,900
Jan 9, 2026

Expired

WNYREIS #B1512669

Aug 13, 2025

Price Change

WNYREIS #B1512669

$169,900
Mar 25, 2025

Price Change

WNYREIS #B1512669

$184,900
Jan 7, 2025

Price Change

WNYREIS #B1512669

$189,000
Oct 18, 2024

Price Change

WNYREIS #B1512669

$214,900
Apr 22, 2024

Price Change

WNYREIS #B1512669

$224,900
Dec 5, 2023

Listed (Active)

WNYREIS #B1512669

$239,000
Dec 1, 2023

Expired

WNYREIS #B1414524

Jun 20, 2022

Listed (Active)

WNYREIS #B1414524

$289,000
Jun 4, 2010

Sold (Public Record)

Public Record #426622068

$60,000

+67.1% / yr

May 27, 2009

Sold (Public Record)

Public Record #426836362

$35,508
DateEvent & SourcePrice
01/28/2026

Listed (Active)

WNYREIS #B1659799

$159,900
01/09/2026

Expired

WNYREIS #B1512669

08/13/2025

Price Change

WNYREIS #B1512669

$169,900
03/25/2025

Price Change

WNYREIS #B1512669

$184,900
01/07/2025

Price Change

WNYREIS #B1512669

$189,000
10/18/2024

Price Change

WNYREIS #B1512669

$214,900
04/22/2024

Price Change

WNYREIS #B1512669

$224,900
12/05/2023

Listed (Active)

WNYREIS #B1512669

$239,000
12/01/2023

Expired

WNYREIS #B1414524

06/20/2022

Listed (Active)

WNYREIS #B1414524

$289,000
06/04/2010

Sold (Public Record)

Public Record #426622068

$60,000

+67.1% / yr

05/27/2009

Sold (Public Record)

Public Record #426836362

$35,508

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 514 West State Street

Taxable ValueLand$9,700Additions$90,300Total$100,000
Tax Record2024$3,775 ($315 / month)
Home Facts
Total Finished SqFt6,120 SqFtAbove Grade Finished SqFt6,120 SqFtUnfinished Basement SqFt3,060 SqFtStories2Lot Size6,846 SqFtStyleOffice BuildingYear Built1910CountyCATTARAUGUSAPN041200 94.064-9-13

Schools near 514 West State Street

This home is within Olean City School District.
Rating
School
Type
Grades
Distance
Public - 2 to 10
Public - 8 to 12
Public - PK to 3
Public - PK to 3
Rating
School
Distance
Olean Middle School
Public2 to 10

Olean Senior High School
Public8 to 12

East View Elementary School
PublicPK to 3

Washington West Elementary School
PublicPK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

514 West State Street is a mixed use property for sale in Olean, NY 14760. This property was listed for sale on January 28, 2026 by ERA Team VP Real Estate, it's currently listed at $159,900. It has been on the market for a total of 5 days and was last sold on June 4, 2010. This listing's school district is Olean City School District. Nearby schools include Olean Middle School, Olean Senior High School and East View Elementary School. 514 West State Street is a 0-bed, 0-bath, 9,180 sqft mixed use property built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ERA Team VP Real Estate

Based on information from one of the following Multiple Listing Services: WNYREIS and Greater Binghamton Association of REALTORS. Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by WNYREIS and Greater Binghamton Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.