Auto Shop Property with NNN
For Sale
$1,950,000
1625 DELL RANGE BLVD, Cheyenne, WY 82009
Commercial/Industrial, Cheyenne, WY
Property Size7,760 SF
Lot Size0.75 Acres
Price / SF$251.29
Days on Market109
Property Features for 1625 DELL RANGE BLVD
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Fixtures, Land
Subdivision
LARAMIE
Standard status
Active
Size
7,760 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3546
Building Details
Year built
1993
Building materials
Steel
Roof type
Metal
Listing Agency:
#1 Properties
(307) 634-2222
Listed By:
Jim Weaver · License #10624
(307) 630-5161
Added: May 19
Changed: Aug 19
Last Checked: Sep 4 at 2:06PM
MLS# 100842
Copyright © 2026 Cheyenne MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This automotive property comprises a 7,760-square-foot commercial building on 0.75 acres. Constructed in 1993, the improvements feature steel construction and a metal roof, with established businesses operating under two absolute triple net leases. Approximately nine years remain on both lease terms, and the current cap rate is approximately 6.8%.
The property is located at 1625 Dell Range Blvd. in Cheyenne, Wyoming, along a retail corridor reporting more than 30,000 ADT. Its automotive-oriented configuration, existing occupancy, and lease structure provide a defined commercial operating profile for prospective buyers.
The property is located at 1625 Dell Range Blvd. in Cheyenne, Wyoming, along a retail corridor reporting more than 30,000 ADT. Its automotive-oriented configuration, existing occupancy, and lease structure provide a defined commercial operating profile for prospective buyers.
Key Highlights
- 7,760‑square‑foot automotive property on 0.75 acres
- Two absolute triple net leases with approximately nine years remaining
- Current cap rate of approximately 6.8%
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,012
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,780,240
$1.8M
Cap Rate 7%
$1,271,600
$1.3M
Cap Rate 9%
$989,022
$989.0K
Market Conditions
NOI Build-Up for 7,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$144.3K $18.60/SF
− Vacancy
−$17.2K −$2.21/SF
EGI
$127.2K $16.39/SF
− OpEx
−$38.1K −$4.92/SF
NOI
$89.0K $11.47/SF
Area
Laramie County, WY
Vacancy
11.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,780,240
Cap Rate 7%
$1,271,600
Cap Rate 9%
$989,022
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $89,012 @ 7.0% cap · market cap 4.56%
Second Best
Industrial
$629.7K
$551.0K – $734.6K
NOI $44,077 @ 7.0% cap · market cap 2.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wyo Dent Co. — 1659 Stillwater Ave, Cheyenne, WY 82009
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- AAMCO Transmissions & Total Car Care — 1625 Dell Range Blvd, Cheyenne, WY 82009
- Meineke Car Care Center — 1627 Dell Range Blvd, Cheyenne, WY 82009
- Valvoline Instant Oil Change — 4505 Frontier Mall Dr, Cheyenne, WY 82009
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive businesses occupy a steel commercial property with absolute triple net lease terms.
Where is this auto shop located?
The property is located at 1625 DELL RANGE BLVD Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 7,760‑square‑foot automotive property on 0.75 acres; Two absolute triple net leases with approximately nine years remaining; Current cap rate of approximately 6.8%
