High Sierra Lanes - Bowling
GREAT LOCATION FOR REDEVELOPMENT OR KEEP AND OPERATE THE CURRENT BOWLING ALLEY
Marketing description
An investor / Owner user can purchase the Building or Building with the Business (NOI was $285,000 in 2021 AND UP A LARGE AMOUNT IN 2022 on pace for $343,000 NOI though July). Located on the South Virginia corridor right between the Peppermill hotel and casino and the Atlantis Hotel and Casino. Just a 1/2 mile away from the emerging development of Park Lane High Sierra Lanes has been in business over twenty years and shows a very consistent cash flow year over year. This family entertainment center features 24 lanes of bowling, 15 gambling machines, arcade, full-service snack bar, pro shop, and embroidery shop. The business has a very consistent customer base of over 2000 league bowlers with leagues six nights a week. The center boasts black light bowling both Friday night and Saturday night with a DJ to host the party. This is a hot spot for holiday parties and business gatherings/meetings. The owner is willing to stay on to train the new owner / manager. There are seven full-time employees and approximately 13 part-time employees.
REALLY WELL PERFORMING ASSET! 2023 GROSS INCOME was approx $1,600,000
Highest and best may be to redevelop the site to be apartments or mixed use project.
Investment highlights
- High Visibility - Great S Virginia Street Location
- Includes Billboard Lease
- Buy Building and/or Business
- Great location to keep current use or as a Development Sit
- Access from 2 Major Roads
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