977 Highway 25 70Newport, TN 37821

  • Sports & entertainment properties
  • 10,956 SF
For Sale
$919,900 View listing

Property Details for 977 Highway 25 70

Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.90 AC
Property size (Sq ft)
10,956 SF
Property type
Sports & entertainment properties
Property subtype
Bowling alleys
APN
015046 12900
APU
1504612900

Description

Exceptional investment opportunity: Victory Lanes, a well-established bowling alley in Newport, Tennessee, is available for purchase at $919,900. This 10,716 square foot facility boasts 12 lanes, ample entertainment options including air hockey, video games, and vending machines, and established bowling leagues, ensuring a consistent revenue stream. The property sits on a 1.9-acre lot with over 50 paved parking spaces and 247 feet of highway frontage, providing excellent visibility and accessibility off I-40. A significant advantage is the inclusion of a separate one-bedroom, one-bathroom apartment with potential for expansion to two bedrooms. This apartment features a microwave, range, and washer/dryer hookups, offering additional income potential through rental or owner occupancy. The building also features great storage space. The roof is approximately 10 years old. The property generates a Net Operating Income (NOI) of $100,000, resulting in a compelling 10.87% capitalization rate. This turnkey operation comes complete with everything needed to continue its successful operation as a bowling alley, or offers significant potential for redevelopment. The property is zoned for special purpose use.

977 Highway 25 70, Newport, Tennessee

Location Insight

City
Newport
County
Cocke
State
Tennessee
Latitude
35.9727
Longitude
-83.2365
CBSA code
35460
CBSA name
NEWPORT, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,654
$82,120
$60,600
$142,720
-
$205,300
$151,500
$356,800

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