Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cheyenne Fourplex Investment Opportunity Title is generated by Realmo AI

    1507 HOT SPRINGS AVE, Cheyenne, WY 82001

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $510,000

    BI-LEVEL, 4-Plex - Cheyenne, WY

    Lot size:
    0.15 Acres
    Added:
    May 12, 2026
    Days on Market:
    20
    Last Refresh:
    May 31 at 12:06 am

    Property Features for 1507 HOT SPRINGS AVE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Parking features
    Off Street
    Interior features
    Carpeted
    Appliances
    Range, Refrigerator
    Standard status
    Active Under Contract
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2214

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1954
    Number of units
    4
    Building materials
    Brick
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Marc Dempsey
    Marc Dempsey

    Listing agent Marc Dempsey

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

    Listing date May 12, 2026

    MLS# 100756 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.

    HighLights

    • Fully rented 4‑plex generating immediate income.
    • Solid brick construction.
    • Three 2‑bedroom, 1‑bath units.
    • One 1‑bedroom, 1‑bath unit.
    • Off‑street parking available.
    • Coin‑operated laundry on‑site.

    Overview

    This all-brick fourplex is fully rented and offers an investment opportunity. The property includes three units with 2 bedrooms and 1 bathroom each, and one unit with 1 bedroom and 1 bathroom. Off-street parking is available, and there is a coin-operated laundry facility on-site. The property is located in Cheyenne, WY, and is situated on a lot of 0.15 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.7849348
    Latitude
    41.1400216

    Nearby Similar for Sale

    • $1,999,900
      7,856 SF

      Profitable Commercial Property in Cheyenne

      Well-maintained commercial property with long-term tenants and high visibility.
      1900 CONVERSE AVE, Cheyenne, WY 82001
      View Details
    • $1,950,000
      7,760 SF

      Cheyenne Retail Investment Opportunity

      Established retail businesses on Dell Range Blvd with high traffic.
      1625 DELL RANGE BLVD, Cheyenne, WY 82009
      View Details
    • $2,844,000
      14,100 SF

      Versatile Commercial Building in Cheyenne

      Multi-functional commercial building in a high-visibility location.
      6725 FAITH DR, Cheyenne, WY 82009
      View Details
    • $450,000
      3,293 SF

      Established Tanning Salon Business Opportunity

      Turn-key tanning salon business with long-term lease in Cheyenne, WY.
      1900 CONVERSE AVE, Cheyenne, WY 82001
      View Details
    • $795,000
      3,142 SF

      Cheyenne Acreage with Barn/Shop

      2.76-acre Cheyenne property with mature landscaping, barn/shop.
      10423 BEARTOOTH DR, Cheyenne, WY 82009
      View Details
    • $799,000
      3,888 SF

      Turnkey Mixed-Use Cheyenne Opportunity

      Renovated commercial space with residential units, generating $6,059/month.
      2200 LOGAN AVE, Cheyenne, WY 82001
      View Details
    • $2,975,000
      217,800 SF

      New RV & Boat Storage

      Turnkey RV & Boat storage facility near Interstate 25.
      2262 Road 220, Cheyenne, WY 82009
      View Details
    • $499,900
      8,184 SF

      Downtown Cheyenne Commercial Building

      Spacious 8184 sq ft building in historic downtown Cheyenne.
      1713 PIONEER AVE, Cheyenne, WY 82001
      View Details
    • $349,000
      1,670 SF

      Historic Cheyenne Office with Charm

      Charming, historic office building with unique architectural details.
      2121 EVANS AVE, Cheyenne, WY 82001
      View Details
    • $987,900
      2,365 SF

      Cheyenne Ranch with RV Garage

      3-bedroom home on 4.96 acres with oversized RV garage.
      6809 CHARLES JAKE CT, Cheyenne, WY 82009
      View Details
    • $800,000
      6,775 SF

      Cheyenne Church Building For Sale

      6775 SF church building with billboard lease through 2032.
      110 CENTRAL AVE, Cheyenne, WY 82001
      View Details
    • $850,000

      Cheyenne Rural Home with Western Charm

      Custom home on a premium lot with mountain views.
      6449 TELLURIDE DR, Cheyenne, WY 82009
      View Details

    FAQs

    What type of property is this?
    Quadplex - Fully rented fourplex in a great Cheyenne location.
    Where is this quadplex located?
    The property is located at 1507 HOT SPRINGS AVE Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $510,000.
    What are key features of this property?
    This property features: Fully rented 4‑plex generating immediate income.; Solid brick construction.; Three 2‑bedroom, 1‑bath units.
    (307) 631-0333
    We can help!
    Listing Contact
    Marc Dempsey
    Marc Dempsey
    Real Estate License ID: 1353
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1507 HOT SPRINGS AVE, Cheyenne, WY 82001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!