Sign Up Successful!
You now have access to more from Realmo!
    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

    1 Sweetgrass Dr Cheyenne, WY 82007

    Sponsored
    For Sale
    $937,282

    Unimproved Commercial - Cheyenne, WY

    Lot size:
    0.44 Acres
    Days on Market:
    786
    Last Refresh:
    Jan 22 at 6:06 pm

    Property Features for 1 Sweetgrass Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.44 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jim Weaver
    Jim Weaver

    #1 Properties (307) 634-2222 [email protected]

    Listing agent Jim Weaver (307) 634-2222

    Listing date Nov 29, 2023

    MLS# 88686 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Commercial Land Ready for Development

    These unimproved commercial lots are shovel-ready and suitable for drive-thru development. Situated off College Blvd, the location benefits from a traffic count of 9,000 ADT. The area is easily accessible to residential neighborhoods via hike and bike trails, and is near the Cheyenne Greenway system and Wyoming’s largest community college. Nearby employers include F.E. Warren Air Force Base, the State of Wyoming, the U.S. Government, Laramie County School District #1, Cheyenne Regional Medical Center, Union Pacific Railroad, Lowe’s, Sierra Trading Post, Wal-Mart Distribution Centers, and Echo Star. The lot size is 0.44 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.883
    Latitude
    41.0803

    Nearby Similar for Sale

    • $1,345,000
      4.89 Acres

      Custom Ranch with Horse Barn

      Newer ranch-style home on 4.89 acres with horse facilities.
      1688 Espen Trl, Cheyenne, WY 82009
      View Details
    • New
      $799,900
      1,962 SF

      Cheyenne Ranch with Custom Features

      Custom-built ranch home on 5.14 acres with many unique features.
      3401 Hales Ranch Rd, Cheyenne, WY 82007
      View Details
    • $570,000
      5.10 Acres

      Cheyenne Home on Fenced Acreage

      Four-bedroom home on 5.1 acres, 15 minutes from Cheyenne.
      1532 Skyway Ave, Cheyenne, WY 82009
      View Details
    • $998,000
      2.50 Acres

      Cheyenne Dream Home on Acreage

      Elegantly designed home on 2.5 acres with high-end upgrades.
      6758 Spencer Dr, Cheyenne, WY 82007
      View Details
    • $745,000
      4.84 Acres

      Cheyenne Ranch-Style Retreat on Acreage

      Spacious 5-bedroom ranch on 4.84 acres near Cheyenne.
      11107 Stadel Rd, Cheyenne, WY 82009
      View Details
    • $2,350,000
      160.00 Acres

      Wyoming Ranch Estate on 160 Acres

      Luxury ranch estate with custom log home and outbuildings.
      3888 Road 207, Cheyenne, WY 82009
      View Details
    • $750,000
      5.88 Acres

      New Ranch-Style Home on Acreage

      New ranch home on 5.88 acres with mountain views.
      11008 Telephone Rd, Cheyenne, WY 82009
      View Details
    • $1,299,000
      5.91 Acres

      Cheyenne Ranch with RV Garage

      New construction home on 6 acres with RV garage.
      2593 Mccrae Rd, Cheyenne, WY 82009
      View Details
    • $767,500
      4.41 Acres

      Cheyenne Ranch Style Home

      Three-year-old ranch home with upgrades, landscaping, and a finished garage.
      6424 Blue Roan Rd, Cheyenne, WY 82007
      View Details
    • $950,000
      7,000 SF

      Spacious Cheyenne Home on Acreage

      7,000sf home on 3.45 acres with accessibility features.
      714 E Ole Maverick Rd, Cheyenne, WY 82009
      View Details
    • $597,900
      10.47 Acres

      New Ranch Home on Acreage

      New ranch-style home on 10 acres near Cheyenne.
      2168 Pony Ct, Cheyenne, WY 82009
      View Details
    • $949,900
      4.54 Acres

      Cheyenne Ranch Style Home

      Ranch home with finished basement, spacious garage, and quality finishes.
      2309 Silver Gate Way, Cheyenne, WY 82009
      View Details

    FAQs

    What type of property is this?
    Commercial land - Shovel-ready commercial lots with drive-thru potential in Cheyenne, Wyoming.
    Where is this commercial land located?
    The property is located at 1 Sweetgrass Dr Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $937,282.
    What are key features of this property?
    This property features: - Shovel ready lots, drive thru capable; - Located off College Blvd with 9,000 ADT; - Easily accessed via hike and bike trails from residential neighborhoods
    (307) 630-5161
    Request Owner's contact information
    1 Sweetgrass Dr Cheyenne, WY 82007
    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.
    1 Sweetgrass Dr
    Cheyenne, WY 82007
    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
    1 Sweetgrass Dr Cheyenne, WY 82007
    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!
    Listing Contact
    Jim Weaver
    Jim Weaver
    Real Estate License ID: 10624
    (307) 630-5161
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.