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Olean 14760
318 S 8th Street
Photo of 318 S 8th Street

22

Map

Photo of 318 S 8th Street
Photo of 318 S 8th Street
$39,900
● Land - For Sale

318 S 8th Street

Olean, NY 14760
bedrooms
Studio
bathrooms
0 Bath
$295
Est. Monthly

About This Property

Opportunity to own approximately 3 acres of vacant commercial land in the City of Olean. Located at 318 Eighth St S, this property offers a sizable parcel with potential for a variety of commercial development opportunities, subject to local zoning and approvals. The property is currently classified as vacant commercial land and consists of approximately 1 acre of primary commercial land with an additional 2 acres of residual land. Public water and sewer are available, along with gas and electric utilities. With its location within the City of Olean and generous acreage, this property provides an opportunity for an investor, developer, or business owner looking for land to accommodate a future project. Bring your plans and explore the possibilities this 3-acre commercial parcel has to offer.
Unit Size
-
Days on Market
12 days
Land Size
3.00 acres
Price per sqft
-
Property Type
Land
Property Taxes
$98
HOA Dues
-
Year Built
-

Listed By

Regis Handley
Regis Handley
[email protected]
Howard Hanna Professionals

Payment Calculator

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 12 days ago (NYSAMLS #R1716612)

Price History

Date / Event Date Event Price
Sep 21, 2026 Listed by Howard Hanna Professionals - Olean $39,900
Listed by Howard Hanna Professionals - Olean
Jun 28, 2002 Sold
Premium
Sold

Property Highlights

Parking Details
Parking Features: NoDriveway
Exterior Details
Other Structures: None
Lot Features: Irregular Lot, Cleared, Level, ResidentialLot
Lot Size Area: 3
Lot Size Units: Acres
Lot Size Acres: 3
Lot Size Square Feet: 130680
Lot Size Dimensions: 50X
Tax Lot: 25
Financial Details
Tax Assessed Value: $20,000
Tax Annual Amount: $1,180
Utilities Details
Sewer : None

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 130,680
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: V
  • Land Acres: 0000003000
  • Standard Land Use Code: 8002
  • County Land Use Code: 330

Neighborhood

  • School District Name: Olean City School District
  • School Tax School District: OLEAN CITY
  • Census Tract: 961600

Zoning

  • Zoning: R3

Geography

  • Account Number: 072440
  • District: 041200
  • Section: 94.72
  • Parcel: 041200 94.072-5-25
  • Block: 5
  • Lot: 25.000
  • Municipality: OLEAN
  • Latitude: 42.074
  • Longitude: -78.4401

    Address

  • Full Address: 318 S 8th St
  • Address - House Number: 318
  • Street Direction: S
  • Address - Street Name: 8th
  • Address - Suffix Type: St
  • State: NY
  • City Name: Olean
  • Carrier Code: C006
  • 4-Digit Zip Code: 3406
  • Zip Code: 14760

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $55,846
  • Tax Rate Code Area: 041200

    Market Valuation

  • Market Total Value: $25,641
  • Market Land Value: $25,641

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $20,000
  • Assessed Land Value: $20,000

    Sales

  • Current Sale Contract Date: Jun 21, 2002
  • Current Sale Recording Date: Jun 28, 2002
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Olean

Stats & Trends

Median Asking:

$139,900

Sale Price/ft²

$85

Below Asking

0.05%

Average Days on Market

83

Average Home Size

1737 ft²

Average Home Age

113.7 years

Currently For Sale

64 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 321 N Union Street, Olean, NY, 14760

$2,000 /mo

  • 2 Beds
  • 1 Bath
  • 1,800 ft²
321 N Union Street, Olean, NY, 14760 Listing by Regis Handley

Rentals Near You

Click here to view more rentals in the neighborhood.
NYSAMLS

Last Updated: 12 days ago
Data Source: NYSAMLSs, MLS# R1716612

Frequently Asked Questions

When was property at 318 South 8th Street built and last sold?
The property at 318 South 8th Street was built in and last sold on Jun 21, 2002 for $20,000.
How much is this home worth?
The estimated value of the home located at 318 South 8th Street is $40,299.
What are some comparable homes to 318 South 8th Street?
There are currently no comparable homes to 318 South 8th Street.
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