Bowling Alley with Expansion
New
For Sale
$2,900,000
1225 River Ave, Williamsport, PA 17701
C-N zoning and 24 bowling lanes define the property's commercial configuration.
Property Size22,050 SF
Price / SF$131.52
Days on Market3
Property Features for 1225 River Ave
General Information
Standard status
Active
Size
22,050 SF
Property subtype
Retail
Zoning
C-N
Occupancy
100%
Building Details
Building Size
22,050 SF
Year Built
1958
Buildings
1
Listing Agency:
(814) 532-6186
Listed By:
Perry Russ · License #PA #RM425579
Source:
Zamias
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 5:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Perry Russ
Investment Insights
Based on property information with market context.
This bowling-focused commercial property in Williamsport, Pennsylvania, contains a 22,050 SF building with 24 bowling lanes and ceiling heights ranging from 25’-27”. Approximately 2,000 SF is located on the second floor, which can be expanded as part of a plan to create up to 40,000 SF of total retail space.
The property is positioned at 1225 River Ave and carries C-N zoning. Occupancy is reported at 100%. Furniture, fixtures, and equipment are not included in the sale, although the business and FF&E may be available separately. The configuration supports the existing bowling use while providing additional interior area for a larger commercial layout.
The property is positioned at 1225 River Ave and carries C-N zoning. Occupancy is reported at 100%. Furniture, fixtures, and equipment are not included in the sale, although the business and FF&E may be available separately. The configuration supports the existing bowling use while providing additional interior area for a larger commercial layout.
Key Highlights
- 24 Bowling Lanes
- 22,050 SF building
- 25’-27” ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$198,926
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,978,520
$4.0M
Cap Rate 7%
$2,841,800
$2.8M
Cap Rate 9%
$2,210,289
$2.2M
Market Conditions
NOI Build-Up for 22,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$317.5K $14.40/SF
− Vacancy
−$33.3K −$1.51/SF
EGI
$284.2K $12.89/SF
− OpEx
−$85.3K −$3.87/SF
NOI
$198.9K $9.02/SF
Area
Lycoming County, PA
Vacancy
10.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,978,520
Cap Rate 7%
$2,841,800
Cap Rate 9%
$2,210,289
Alternative Uses
Best Use
Retail
$2.84M
$2.49M – $3.32M
NOI $198,926 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,634 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 38%
Dining 15%
Home Improvements & Furnishings 2%
Weis Markets
Groceries
24,110 visits/mo
0.2 miles
Exxon
Shops & Services
6,581 visits/mo
0.1 miles
Bruster's
Dining
4,869 visits/mo
0.4 miles
Sunoco
Shops & Services
4,571 visits/mo
0.2 miles
M&T Bank
Shops & Services
3,890 visits/mo
0.1 miles
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bowling alley - C-N zoning and 24 bowling lanes define the property's commercial configuration.
Where is this bowling alley located?
The property is located at 1225 River Ave Williamsport, PA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 24 Bowling Lanes; 22,050 SF building; 25’-27” ceiling height
