Mixed-Use Property with K9
For Sale
$1,213,000
1716 Road 124, Cheyenne, WY 82009
Commercial/Industrial, Cheyenne, WY
Property Size6,633 SF
Lot Size5.00 Acres
Price / SF$182.87
Days on Market22
Property Features for 1716 Road 124
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Business, Fixtures, Land
Subdivision
LARAMIE
Standard status
Active
Size
6,633 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Addendum
Tax Annual Amount
2816
Legal Description
See Addendum
Amenities
K9 pool
24/7 security system
generator
solar system
television
Building Details
Building materials
Brick, Steel
Roof type
Composition, Metal
Listing Agency:
Century 21 Bell Real Estate · Century 21 Real Estate
(307) 635-0336
Listed By:
Tracy Wilson · License #2099
(307) 630-8686
Added: Aug 17
Changed: Aug 30
Last Checked: Sep 7 at 9:06PM
MLS# 101801
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.
Set on 5 acres, this mixed-use property combines a commercial canine facility with a 2,536-square-foot bi-level residence. The primary operation occupies a 47' x 64' insulated, heated steel building with 38 kennels, indoor/outdoor configurations, and capacity for up to 125 dogs. Interior improvements include epoxy flooring, concrete kennel areas with integrated drainage, an office, breeding and grooming areas, a remodeled bathroom, laundry equipment, added ventilation, and a 500-gallon K9 pool with a draining mechanism.
The property also includes 8'-10' fencing, a 24/7 security system, generator, and solar system. Additional improvements consist of a 41' x 25' outbuilding, chicken coop, and pigeon coop. Included business assets and equipment include the website, computer system, portable kennels, K9 treadmill, grooming table, raised dog beds, bowls, hoses, and bite suit and sleeves. The seller is willing to assist with an agreed-upon transition period.
The property also includes 8'-10' fencing, a 24/7 security system, generator, and solar system. Additional improvements consist of a 41' x 25' outbuilding, chicken coop, and pigeon coop. Included business assets and equipment include the website, computer system, portable kennels, K9 treadmill, grooming table, raised dog beds, bowls, hoses, and bite suit and sleeves. The seller is willing to assist with an agreed-upon transition period.
Key Highlights
- 5 acres with a 2,536‑square‑foot bi‑level residence
- 47' x 64' heated, insulated steel kennel building
- 38 kennels with indoor/outdoor configurations and capacity for up to 125 dogs
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
$46,514
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
3.83%
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%
$930,280
$930.3K
Cap Rate 7%
$664,486
$664.5K
Cap Rate 9%
$516,822
$516.8K
Market Conditions
NOI Build-Up for 6,633 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
$87.6K $13.20/SF
− Vacancy
−$13.1K −$1.98/SF
EGI
$74.4K $11.22/SF
− OpEx
−$27.9K −$4.21/SF
NOI
$46.5K $7.01/SF
Area
Laramie County, WY
Vacancy
15.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$930,280
Cap Rate 7%
$664,486
Cap Rate 9%
$516,822
Alternative Uses
Best Use
Mixed Use
$664.5K
$581.4K – $775.2K
NOI $46,514 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.09M
$951.1K – $1.27M
NOI $76,085 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operational canine-services facility with an on-site residence, specialized improvements, outdoor enclosures, and supporting structures.
Where is this mixed-use property located?
The property is located at 1716 Road 124 Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,213,000.
What are key features of this property?
This property features: 5 acres with a 2,536‑square‑foot bi‑level residence; 47' x 64' heated, insulated steel kennel building; 38 kennels with indoor/outdoor configurations and capacity for up to 125 dogs
