Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    300 E Railroad Ave Fort Morgan, CO 80701

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $630,000

    Thriving bowling alley in Morgan County with recent updates.

    Lot size:
    0.95 Acres

    Property Features for 300 E Railroad Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.95 Acres

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Mary Walter
    Source: Elliman

    Listing Agency: Cornerstone Brokers, LLC Listing Agent: Mary Walter

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Established Bowling Alley For Sale

    Morgan Lanes, the only bowling alley in Morgan County, is available for purchase. This established business offers a community-driven atmosphere and income potential. The property was recently featured on HGTV's "Hometown Takeover" and has a modern look with updated finishes. Located in a high-visibility area, this turnkey operation is positioned for a new owner to continue its legacy as a cornerstone of entertainment in the area.
    Location Intelligence

    Current Use by Public Records

    Morgan Lanes Bowling Alley Culligan Water Conditioning ... Home Appliance Store Gold Crown Lanes Bowling Alley

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Morgan
    County
    Morgan
    State
    Colorado
    Longitude
    -103.797944
    Latitude
    40.2480574

    Nearby Similar for Sale

    • $575,000

      Commercial Building with Office/Warehouse Space

      Well-maintained commercial building with office and warehouse space for sale.
      1215 E Burlington Ave, Fort Morgan, CO 80701
      View Details
    • $630,000

      Mixed-Use Building with Modern Updates

      Expansive mixed-use building featuring retail, event, and office spaces.
      204 W Beaver Ave, Fort Morgan, CO 80701
      View Details
    • $1,990,000

      Fort Morgan Industrial Facility

      36,735 SF heavy industrial facility on 2.8 acres.
      12555 Energy Rd, Fort Morgan, CO 80701
      View Details
    • Contact for pricing

      Downtown Office Building with Parking

      Five-unit office building in downtown area with private parking.
      217 Prospect St, Fort Morgan, CO 80701
      View Details
    • $749,900

      Downtown Fort Morgan Office Building

      Five-unit office building in downtown Fort Morgan, fully occupied.
      217-231 Prospect St, Fort Morgan, CO 80701
      View Details
    • $649,000

      Fort Morgan Four-Unit Apartment Building

      Four-unit apartment building with income potential in Fort Morgan, Colorado.
      102 Lowell Pl, Fort Morgan, CO 80701
      View Details
    • $699,000

      Four-Unit Building Investment Opportunity

      Income-generating four-unit building in Fort Morgan, Colorado.
      325 Circle Dr, Fort Morgan, CO 80701
      View Details
    • $699,000

      Four-Unit Building Investment Opportunity

      Income-generating four-unit building in Fort Morgan, Colorado.
      323 Circle Dr, Fort Morgan, CO 80701
      View Details
    • $690,459

      Specialty Property for Sale

      Specialty property available for purchase.
      1166 S Deuel St, Fort Morgan, CO 80701
      View Details
    • $440,000

      Fort Morgan Commercial Property Available

      Commercial property for sale in Fort Morgan, Colorado.
      300 Walnut St, Fort Morgan, CO 80701
      View Details
    • $689,000

      Fort Morgan Agricultural Property

      Agricultural property for sale in Fort Morgan, Colorado.
      99101 E 104Th Ave, Fort Morgan, CO 80701
      View Details
    • $649,000

      Fort Morgan Four-Unit Apartment Building

      Four-unit apartment building in Fort Morgan with income potential.
      110 Lowell Pl, Fort Morgan, CO 80701
      View Details

    FAQs

    What type of property is this?
    Bowling alley - Thriving bowling alley in Morgan County with recent updates.
    Where is this bowling alley located?
    The property is located at 300 E Railroad Ave Fort Morgan, CO.
    What is the asking price?
    The asking price for this property is $630,000.
    What are key features of this property?
    This property features: - Only bowling alley in Morgan County, a unique and established business.; - Featured on HGTV's "Hometown Takeover", indicating recent renovations and increased visibility.; - Turnkey operation, ready for immediate ownership.
    (970) 842-2444
    Request Owner's contact information
    300 E Railroad Ave Fort Morgan, CO 80701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    300 E Railroad Ave
    Fort Morgan, CO 80701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    300 E Railroad Ave Fort Morgan, CO 80701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mary Walter
    Real Estate License ID: 40047505
    (970) 842-2444 (970) 768-6839
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!