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    8498 Cemetery Road Lingle, WY 82223

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    Claim this Listing
    For Sale
    $960,000

    Working - Lingle, WY

    Type:Farm
    Property size:
    3,800 SF
    Lot size:
    88.10 Acres
    Added:
    Jan 10, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 10 at 11:06 am

    Property Features for 8498 Cemetery Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    Size
    3,800 SF
    Lot size
    88.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2244

    Building Details

    Year built
    1920
    Architectural style
    Other

    We can help!

    Listing Contact
    Rebecca Bextel

    Listing agent Rebecca Bextel License #RE-15519

    Listing office eXp Realty, LLC 2617 E. Lincolnway, Suite A-5, Cheyenne, WY

    Listing date Jan 10, 2026

    MLS# 20260155 Listing URL

    Copyright © 2026 Wyoming Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wyoming Ranch with Equestrian Facilities

    Located in Lingle, Wyoming, the Diamond Bar Ranch is an 88.1± acre property designed for horse enthusiasts and those seeking open space. The property includes 5 acres of water rights and several fenced pastures. The 3,800 sq ft home features three bedrooms, two bathrooms, and two large family rooms. A wood-burning stove creates a cozy ambiance. Updates include new flooring, a remodeled bathroom, a reverse osmosis system, and enhancements to the well. There is an oversized attached two-car garage and a 20x20 carport. Equestrian facilities include an 80x100 riding arena, three individual runs with windbreaks, and multiple fenced pastures. A 50x50 shop is equipped with new electrical installations. The property has year-round access and blends rural living with amenities. This turnkey property is suitable for riders, hobby ranchers, or those seeking a retreat with space.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Lingle
    County
    Goshen
    State
    Wyoming
    Longitude
    -104.3082754
    Latitude
    42.1757188

    Nearby Similar for Sale

    • $350,000

      Turn-Key Restaurant and Bar

      Small-town bar and restaurant with loyal clientele, ready for operation.
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    • $2,500,000
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      1,625-Acre Ranch with Modern Home

      Ranch featuring a modern home and multiple outbuildings.
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    FAQs

    What type of property is this?
    Ranch - 88.1 acre ranch in Lingle, Wyoming with modern amenities.
    Where is this ranch located?
    The property is located at 8498 Cemetery Road Lingle, WY.
    What is the asking price?
    The asking price for this property is $960,000.
    What are key features of this property?
    This property features: 88.1± acre property with 5 acres of water rights and fenced pastures, ideal for horses and country living.; Enjoy the spacious 3,800 sq ft home featuring three bedrooms, two bathrooms, and two large family rooms.; Impressive equestrian facilities: **80x100 riding arena, three runs with windbreaks.**
    (307) 699-3519
    We can help!
    Listing Contact
    Rebecca Bextel
    Real Estate License ID: RE-15519
    Learn More
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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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