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

    1901 Indianapolis Ave Lebanon, IN 46052

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turnkey bowling alley, bar, & building.

    Property size:
    14,546 SF

    Property Features for 1901 Indianapolis Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,546 SF
    Class
    B
    Lot Size
    41,382 SF

    Building Details

    Year Built/Renovated
    1950/2020
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Jordan Kornmann
    Jordan Kornmann

    Listing Agent: Jordan Kornmann

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

    Learn more

    Property Insight Report

    Overview

    This exceptional turnkey business opportunity presents a well-established, owner-operated bowling alley and bar situated on a 0.95-acre lot in Lebanon, Indiana. The 14,546 square foot, single-story building, constructed in 1950 and renovated in 2020, boasts 18 bowling lanes and a fully operational bar. The property includes all equipment and furnishings, making it truly turnkey. The building is zoned IN (Institutional) and features charming retro décor. Its prime location near the Boone County fairgrounds offers significant potential for increased revenue. The business operates under a three-way liquor license. Financial records are available upon request. This is a rare chance to acquire a profitable, established business with a strong local presence and significant growth potential. The asking price is $850,000. Property details include a single unit, Class B building, and the APN is 06-07-06-000-100.000-002. This is an ideal investment for an owner-user seeking a unique and established business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LBC Lanes Bowling Alley

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Boone
    State
    Indiana
    Longitude
    -86.451222554304
    Latitude
    40.032455431353

    Nearby Similar for Sale

    • $149,900
      Pending

      Lebanon Duplex: Investor Opportunity

      Charming duplex in a growing area, perfect for investors.
      604 N West St, Lebanon, IN 46052
      View Details
    • $1,800,000
      20.11 Acres

      Tillable Land Near Whitestown Pkwy

      20+ acres of tillable land primed for development.
      6775 S 475 E, Lebanon, IN 46052
      View Details
    • $379,900
      868 SF

      Lebanon Street Commercial Property

      High-traffic location, endless potential.
      1223 Lebanon St, Lebanon, IN 46052
      View Details
    • $525,000
      36,000 SF

      Large Lebanon Industrial Building

      36,000 SF Industrial Space - $525,000
      808 Walnut St, Lebanon, IN 46052
      View Details
    • $1,452,500
      11.62 Acres

      Lebanon Commercial Land Investment

      Prime 11.62 Acres Near I-65
      3515/3555 Indianapolis Rd, Lebanon, IN 46052
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Turnkey bowling alley, bar, & building.
    Where is this individual retail property located?
    The property is located at 1901 Indianapolis Ave Lebanon, IN.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 0.95-acre lot; 14,000+ square foot building; 18-lane bowling alley with bar
    (317) 775-2289 Call to check price and availability
    Request Owner's contact information
    1901 Indianapolis Ave Lebanon, IN 46052
    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.
    1901 Indianapolis Ave
    Lebanon, IN 46052
    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
    1901 Indianapolis Ave Lebanon, IN 46052
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jordan Kornmann
    Jordan Kornmann
    Real Estate License ID: RB17000305
    (317) 775-2289
    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!