977 Highway 25 70Newport, TN 37821
- Sports & entertainment properties
- 10,956 SF
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.
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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