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    Bowling and Restaurant Entertainment Venue Title is generated by Realmo AI

    201 Brown Street Ext, Penn Yan, NY 14527

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    For Sale
    $998,000

    Turnkey bowling, pizzeria, bar, and arcade setup with multiple upgraded interior and entertainment-oriented spaces.

    Type:Commercial
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 5:31 am

    Property Features for 201 Brown Street Ext

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1967

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    Listing Contact
    Dale A Lane
    Dale A Lane

    Listing agent Dale A Lane License #10331200134

    Listing office Keuka Lake & Land Realty

    Listing date Jun 1, 2026

    Source Elliman

    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 Keuka Lake & Land Realty

    HighLights

    • 1967‑built building operating as Brock’s Bowl and Pizzeria with a 16‑lane bowling alley
    • On‑site dining plus pizzeria takeout to the general public
    • Fully stocked bar with new and improved bar and lounge area
    • Large arcade with redemption center, plus new scoring machines/monitors
    • Upgrades include new trusses roof system with new roofing, new synthetic lanes, and new seating
    • Additional entertainment/event spaces with party room, pro shop, banquet room, new bathrooms, and new flooring

    Overview

    This for-sale entertainment venue combines a 16-lane bowling alley with a pizzeria/restaurant, a fully stocked bar, and a large arcade with a redemption center. The property also includes a party room and pro shop, supporting group events and league-style play. In addition to the main public areas, the venue includes newly built-out storage-to-public space improvements, including upgraded arcade space and banquet-room and restroom renovations.

    Upgrades are highlighted throughout the building, including a new truss roof system with new roofing, new scoring machines and monitors, new synthetic lanes, updated flooring, and new seating. The bar and lounge area has been newly improved, and the kitchen has been updated for a wide variety of foods. The pizzeria/restaurant supports both eat-in dining and takeout orders to the general public.

    From a tenant or operator standpoint, the layout supports multiple revenue avenues tied to recreation and food service, with space designed for open bowling and parties. The party room and arcade are positioned to support birthday events and other occasions, while the pro shop and event-ready areas complement league and school participation described in the remarks. With the building improvements already completed, this is a practical fit for an operator seeking a bowling-and-dining platform in one location at 201 Brown Street Ext, Milo, NY 14527.
    Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Penn Yan
    County
    Yates
    State
    New York
    Longitude
    -77.0541105
    Latitude
    42.6506168

    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Bowling alley - Turnkey bowling, pizzeria, bar, and arcade setup with multiple upgraded interior and entertainment-oriented spaces.
    Where is this bowling alley located?
    The property is located at 201 Brown Street Ext Penn Yan, NY.
    What is the asking price?
    The asking price for this property is $998,000.
    What are key features of this property?
    This property features: 1967‑built building operating as Brock’s Bowl and Pizzeria with a 16‑lane bowling alley; On‑site dining plus pizzeria takeout to the general public; Fully stocked bar with new and improved bar and lounge area
    (315) 536-7446
    We can help!
    Listing Contact
    Dale A Lane
    Dale A Lane
    Real Estate License ID: 10331200134
    Learn More
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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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