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Property profile & analytics
OFF-MARKET
Bowling alleys
1901 Indianapolis Ave Lebanon, IN 46052-2938
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-3105460
Property summary
AI-generated 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
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
1950
Construction
WOOD
Total area
14,546 SF
Lot
0.95 ac (41,382 SF)
Zoning code
ZO01
APN
06-07-06-000-100.000-002
UPID
US31-3105460
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
LBC Lanes Bowling Alley
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jeffrey S Wilson · 8 yrs held
Jeffrey S Wilson
since 2018
1 recorded transaction
Zoning & alternative use
ZO01 · Lebanon, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lebanon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lebanon submarket · NOI estimate · typical band, median & reading
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8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,804
Tax year 2023
Assessed value
$184,000
Assessed 2023
Previous assessed
$184,000
+0.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$32,900
Assessed improvement
$151,100
Land market value
$32,900
Improvement market value
$151,100
Total market value
$184,000
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bowling alleys
Use group
BOWLING ALLEY
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
NONE
Stories
1
Total area
14,546 SF
Lot
0.95 ac (41,382 SF)
Zoning code
ZO01
APN
06-07-06-000-100.000-002
UPID
US31-3105460
Jurisdiction
BOONE
Zoning & alternative use
ZO01 · Lebanon, IN
Zoning ZO01 · permitted uses
ZO01 · Lebanon, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lebanon. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Jeffrey S Wilson
Individual
Mailing address
516 WN ST, LEBANON, IN 46052-2035
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2018
—
Jeffrey S Wilson
Everett A Wilson
Intrafamily Transfer
related
$100,000 · Home National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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