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    Restaurant & Brewery-Ready Building Title is generated by Realmo AI

    126 N 3RD ST, Douglas, WY 82633

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    For Sale
    $650,000

    COMMERCIAL - DOUGLAS, WY

    Property size:
    11,132 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $58/SF
    Added:
    Nov 13, 2025
    Days on Market:
    203
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 126 N 3RD ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Appliances
    Fixtures, Land
    Standard status
    Active
    Size
    11,132 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 30, 31, and 32, Block 12
    Tax Annual Amount
    2925

    Building Details

    Year built
    1978
    Building materials
    Concrete
    Roof type
    Membrane

    We can help!

    Listing Contact
    Dave Coleman
    Dave Coleman

    Listing agent Dave Coleman License #12697

    Listing office #1 Properties 6106 Yellowstone Rd, Cheyenne, WY

    Listing date Nov 13, 2025

    MLS# 99112

    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.

    HighLights

    • 11,000 SF commercial building in downtown Douglas with two separate entrances for flex space or multi‑tenant buildout
    • Full bar plus commercial kitchen equipment including stainless steel tables, refrigerators, and dishwashers
    • Multiple TVs and fixtures included for use in restaurant, event venue, retail, or brewery concepts
    • Centralized ADA‑accessible bathrooms designed for convenience on both levels of the building
    • Concrete construction with a membrane roof
    • Ample off‑street parking for customers and visitors

    Overview

    Situated at 126 N 3RD ST in downtown Douglas, this for-sale building totals 11,132 square feet on a 0.21-acre lot. The property is configured with large, open floor plans and is designed to support restaurant and beverage uses, with a full bar and a commercial kitchen that includes stainless steel tables, refrigerators, and dishwashers. Multiple TVs and modern amenities are already in place, and the layout includes centralized ADA-accessible bathrooms for convenient access on both levels.

    The building offers two separate entrances, supporting flexible use and potential multi-tenant or adaptable buildout scenarios. It also includes ample off-street parking, which can help accommodate customers or visitors without relying solely on street parking.

    For operators and buyers looking for an adaptable food and beverage platform, the built-in kitchen and bar components provide a practical starting point for restaurant service or local brewery concepts. For other commercial users, the two-entrance arrangement and open floor plans can support reconfiguration toward retail, event hosting, or other customized layouts, subject to permitting and design needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Douglas
    County
    Converse
    State
    Wyoming
    Longitude
    -105.38446
    Latitude
    42.76055

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    FAQs

    What type of property is this?
    Conventional restaurant - A multi-entrance building with a full bar and commercial kitchen, suited for restaurant, brewery, or retail concepts.
    Where is this conventional restaurant located?
    The property is located at 126 N 3RD ST Douglas, WY.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 11,000 SF commercial building in downtown Douglas with two separate entrances for flex space or multi‑tenant buildout; Full bar plus commercial kitchen equipment including stainless steel tables, refrigerators, and dishwashers; Multiple TVs and fixtures included for use in restaurant, event venue, retail, or brewery concepts
    (307) 214-6009
    We can help!
    Listing Contact
    Dave Coleman
    Dave Coleman
    Real Estate License ID: 12697
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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.

    More about this property
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