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2423 N Nys Rte 16
About This Property
The first floor features a storefront-style commercial space with convenient on-site parking and plenty of possibilities. The space could accommodate a variety of uses, including retail, a workshop, studio, office, showroom, service-based business, or other commercial venture. The Route 16 location provides convenient access to Olean and surrounding communities while offering valuable visibility and accessibility for customers and clients.
Occupying the entire second floor is a spacious 4-bedroom, 2-bathroom apartment, creating the potential for additional rental income or an ideal opportunity to live above your own business. With four bedrooms and two full bathrooms, the residential portion offers considerably more space than you typically find in a mixed-use property and adds another level of versatility for a future owner.
The two-story building was originally constructed in 1960 and sits on a generous 180' x 180' lot, providing plenty of room for parking and outdoor space. The property is serviced by a private well and septic system with gas and electric utilities.
Whether you're looking to establish or expand a business, add a mixed-use investment to your portfolio, or create a convenient live/work arrangement, 2423 NYS Route 16 N offers a unique combination of commercial and residential space with plenty of potential. Bring your ideas and make this property work for you!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 15, 2026 | Listed by Howard Hanna Professionals - Olean | $189,900 | |
| Listed by Howard Hanna Professionals - Olean | |||
| Jun 9, 1997 | Sold | ||
| Sold | |||
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| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
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Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017