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    Turnkey Eight-Lane Bowling Center Title is generated by Realmo AI

    140 S First Avenue, Sleepy Eye, MN 56085

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    Claim this Listing
    New
    For Sale
    $65,000

    Commercial - Sleepy Eye, MN

    Lot size:
    0.19 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 140 S First Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Exterior features
    Brick/Stone, Concrete
    Standard status
    Active
    APN
    00210500320200
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    526

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1908
    Building materials
    Block, Brick, Concrete, Frame
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Stavnes
    Chad Stavnes

    Listing agent Chad Stavnes

    Listing office Heartland Real Estate Services LLC 400 Main Street, Lamberton, MN

    Listing date Jun 3, 2026

    MLS# 7086853 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully operational eight‑lane bowling center (Sleepy Eye Lanes) available for purchase
    • Business sale includes equipment for continued operation, including Brunswick AS90 automatic scoring and AMF 8230 pinsetters
    • On‑site amenities include lockers, approach‑area seating, and furniture/fixtures/operational equipment
    • Current owner holds an on‑sale liquor license, offering potential for additional sales opportunities
    • Building features include brick/stone and concrete construction with forced‑air heating and central air
    • Roof is rubber; building was built in 1908

    Overview

    This turnkey sale features an eight-lane bowling center presented as fully operational, with the business and equipment needed to continue daily operations. Included are Brunswick AS90 automatic scoring and AMF 8230 pinsetters, along with lockers, approach-area seating, and the furniture, fixtures, and operational equipment necessary for play and events. The spacious layout supports league activity, tournaments, and customer gatherings such as parties and private events.

    Located at 140 S First Avenue in Sleepy Eye, Minnesota, the property is offered under Business/Commercial zoning. The center is positioned as a local destination with an established presence in the community, supported by its long-standing history and ongoing customer following.

    For buyers looking to step into a ready-to-run entertainment operation, this offering includes the key operational systems used for scoring and pin handling, as well as the on-site amenities for participants and spectators. The current owner holds an on-sale liquor license, which may provide an additional service option for guests alongside bowling events. Overall, it is a practical fit for an owner-operator seeking a complete, equipment-included bowling business with established activity and event versatility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bowling alleys

    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
    Sleepy Eye
    County
    Brown
    State
    Minnesota
    Longitude
    -94.72301594
    Latitude
    44.29641144

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    FAQs

    What type of property is this?
    Bowling alley - Turnkey eight-lane bowling center with on-site equipment and a current on-sale liquor license.
    Where is this bowling alley located?
    The property is located at 140 S First Avenue Sleepy Eye, MN.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Fully operational eight‑lane bowling center (Sleepy Eye Lanes) available for purchase; Business sale includes equipment for continued operation, including Brunswick AS90 automatic scoring and AMF 8230 pinsetters; On‑site amenities include lockers, approach‑area seating, and furniture/fixtures/operational equipment
    (507) 828-7045
    We can help!
    Listing Contact
    Chad Stavnes
    Chad Stavnes
    Request Owner's contact information
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    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.

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