977 Highway 25 70Newport, TN 37821

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

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

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