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Step into an incredible opportunity in the absolute heart of downtown Olean! This building formerly housed the legendary Village Green Pub, a beloved local institution that holds memories for generations of residents "” and now it's ready to become your blank canvas. The commercial ground level offers two expansive rooms, perfectly suited for reviving a bar or restaurant, launching a new retail concept, or bringing your own vision to life. A generous undeveloped area adds even more versatility "” expand the kitchen, create additional public floor space, or use it for storage. Upstairs, the second floor delivers immediate value with a beautifully remodeled, sprawling layout offering potential for a 4- to 7-bedroom apartment with two full bathrooms. This space is already generating income: a current tenant is paying $2,000/month and covers their own electric, while the owner covers gas and water "” a great head start for an investor. The layout also offers flexibility for a large owner-occupied unit, high-yield student housing, or easy division into two separate apartments for dual income streams. With residential renovations largely complete and a prime commercial space ready for your touch, this property sits right at the center of downtown Olean's revitalization. Whether you're reviving the Village Green legacy or building something entirely new "” with built-in residential income already in place "” this is a rare chance to own a true cornerstone of the community.
| DAYS ON MARKET | 2 | LAST UPDATED | 7/29/2026 |
|---|---|---|---|
| YEAR BUILT | 1950 | COMMUNITY | Olean-City-041200 |
| COUNTY | Cattaraugus | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| Elementary School | Washington West Elementary |
|---|---|
| Jr. High School | Olean Middle |
| High School | Olean Senior High |
| ADDITIONAL DETAILS | |
| AREA | Olean-City-041200 |
|---|---|
| BASEMENT | Full, Yes |
| HEAT | Forced Air, Natural Gas |
| LOT | 3598 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| LOT DIMENSIONS | 36X100 |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 6890 |
| UTILITIES | Sewer Connected |
| ZONING | Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by: Paul Pezzimenti, Howard Hanna Professionals - Olean, 716-378-7039
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