309 Union Street

About this home

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.

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Location

Olean, NY 14760 · Cattaraugus County

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