Add Listing
    For Lease
    • 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

    515 E Carlson St Cheyenne, WY 82009

    View on Map
    Sponsored
    For Lease
    Under Contract
    Contact for pricing

    Lease/Rental - Cheyenne, WY

    Property size:
    4,352 SF
    Lot size:
    5.14 Acres
    Days on Market:
    19
    Last Refresh:
    Mar 29 at 11:06 am

    Property Features for 515 E Carlson St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active Under Contract
    Size
    4,352 SF
    Lot size
    5.14 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1965
    Floors in Building
    1
    Building materials
    Other
    Roof type
    Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Bonnie Berry

    #1 Properties

    Listing agent Bonnie Berry

    Listing date Mar 11, 2026

    MLS# 92152 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

    Cheyenne Commercial Condo with High Ceilings

    Located in the Indian Hills Business Center, this commercial condo is available for lease. The property features a wide-open area with very high ceilings, making it suitable for a sports center, such as batting cages or a dance studio. It includes men's and ladies' locker rooms, complete with showers and lockers. Situated in a high-traffic, multi-tenant area on East Carlson Street, the location offers great exposure and is close to residential areas, a church campus, a bowling alley, an indoor roller skating facility, an elementary school, and daycares, as well as multiple other tenants. The space has been updated with new ceiling tiles, fresh paint, new carpet, and new lighting, presenting a blank slate ready for business use. The property has an area of approximately 4300 square feet and is available for lease at $14.50 per square foot on a triple net lease. The lot size is 5.14 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Foundations Medical Clinic Best In Show Professional ... Pet Grooming Service City Barbers & Stylists Hair Salon Employee drug testing, ... Association / Organization Impressions Styling Salon Nail Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.8204801
    Latitude
    41.1707817

    Nearby Similar for Lease

    • Contact for pricing
      1,880 SF

      Prime Cheyenne Office/Retail Space

      Highly visible space on Dell Range Corridor, suitable for various businesses.
      4620 Grandview Ave, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      5,210 SF

      Cheyenne Commercial Warehouse and Office Space

      Class-A commercial warehouse and office space with convenient interstate access.
      8610 Trucker Trl, Cheyenne, WY 82007
      View Details
    • Contact for pricing
      1,964 SF

      Cheyenne Office Space For Rent

      Office suite with private offices, conference room, and reception area.
      611 E Carlson St, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      6,000 SF

      Cheyenne Office Space For Lease

      Office space with bright offices and conference room available for lease.
      813 E Lincolnway, Cheyenne, WY 82001
      View Details
    • New
      Contact for pricing
      1,938 SF

      Medical Office Building For Lease

      Medical office space available for lease in Cheyenne, Wyoming.
      1950 Bluegrass Cir, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      1,049 SF

      Downtown Cheyenne Office Space Rental

      Charming downtown office space with versatile rooms for lease.
      1902 Thomes Ave, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      7,738 SF

      Cheyenne Office Space For Lease

      7873 sq. ft. office space available for lease.
      2020 Capitol Ave, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      1,254 SF

      Prime Downtown Cheyenne Office Space

      High-visibility office space in the heart of Cheyenne's business district.
      1804 Capitol Ave, Cheyenne, WY 82001
      View Details
    • New
      Contact for pricing
      1,988 SF

      Updated Office Space in Cheyenne

      Recently updated office space available for lease in Cheyenne.
      1208 E Pershing Blvd, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      25,000 SF

      Health & Wellness Suite in Gym

      Private suite with gym access for health and wellness professionals.
      1612 E Pershing Blvd, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      5,820 SF

      Cheyenne Office Space For Lease

      Open-concept office space in Airport Parkway Building, Cheyenne, Wyoming.
      1401 Airport Pkwy, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      15,000 SF

      Cheyenne Office/Medical Space Available

      15,000 SF office/medical space in excellent Cheyenne location.
      1401 Airport Pkwy, Cheyenne, WY 82001
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial condo in high-traffic area, ideal for sports center.
    Where is this retail space located?
    The property is located at 515 E Carlson St Cheyenne, WY.
    What are key features of this property?
    This property features: - Large, open 4300 SF space with very high ceilings suitable for various businesses.; - Includes men's and women's locker rooms with showers and lockers.; - Located in a high-traffic, multi-tenant business center on East Carlson Street, providing excellent exposure.
    (307) 630-5444
    Request Owner's contact information
    515 E Carlson St Cheyenne, WY 82009
    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.
    515 E Carlson St
    Cheyenne, WY 82009
    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
    515 E Carlson St Cheyenne, WY 82009
    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
    Bonnie Berry
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!