Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    971 GILCHRIST ST Wheatland, WY 82201

    View on Map
    Claim this Listing
    For Sale
    $150,000

    Commercial - Wheatland, WY

    Property size:
    2,458 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $61/SF
    Added:
    Jul 25, 2025
    Days on Market:
    284
    Last Refresh:
    May 4 at 9:06 pm

    Property Features for 971 GILCHRIST ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,458 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    1247

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1935
    Floors in Building
    1
    Building materials
    Brick, Concrete
    Roof type
    Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Phyllis Gapter

    Listing agent Phyllis Gapter

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

    Listing date Jul 25, 2025

    MLS# 97946 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.

    Overview

    Downtown Wheatland Office Investment

    Located in downtown Wheatland, this commercial property offers high visibility and is fully occupied with tenants under year leases. The property features office spaces with improvements and is in excellent condition. The building includes a common area break room and one bathroom. There is also an option for leasing an additional space. The property has a newer 200 amp service and a split cooling unit. The lot size is 0.16 acres, and the property size is 2458 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheatland
    County
    Platte
    State
    Wyoming
    Longitude
    -104.954221
    Latitude
    42.054303

    Nearby Similar for Sale

    • $775,000
      4,276 SF

      Former Restaurant with High Visibility

      Former fast food restaurant with ample parking on 0.8 acres.
      92 16TH ST, Wheatland, WY 82201
      View Details
    • $380,000
      5,600 SF

      Move-in Ready Commercial Building

      Exceptional commercial building with high visibility and custom office spaces.
      1956 SOUTH ST, Wheatland, WY 82201
      View Details
    • $450,000

      Wyoming Ranch with Mountain Views

      4.5-acre ranch featuring mountain views, 5 bedrooms, and pasture.
      376 FERGUSON RD, Wheatland, WY 82201
      View Details
    • $398,000

      Wheatland Ranch on Full Acre

      Spacious Wheatland ranch with updated features on a full acre.
      17 RICK RD, Wheatland, WY 82201
      View Details
    • $2,500,000

      Wyoming Ranch with Irrigation

      1290-acre ranch near Wheatland, Wyoming, with irrigation and improvements.
      DeLancey Ranch, Wheatland, WY 82201
      View Details
    • $400,000
      3,500 SF

      Turn-Key Restaurant in Historic Downtown

      Restaurant opportunity in historic downtown Wheatland, Wyoming.
      714 9th St, Wheatland, WY 82201
      View Details
    • $400,000

      Well-Maintained Five-Unit Income Property

      Five-unit income property with upside potential in Wheatland, Wyoming.
      404 10th St Wheatland, WY 82201
      View Details
    • $975,000
      1,120 SF

      Established Liquor Store Near I-25

      Liquor store with lottery sales, equipment, and ample parking.
      2334 16th St, Wheatland, WY 82201
      View Details
    • $1,100,000

      Renovated Hotel with Interstate Exposure

      Turnkey 42-room hotel off Interstate 25 in Wheatland, Wyoming.
      109 16th St, Wheatland, WY 82201
      View Details
    • $750,000
      19,340 SF

      Manufacturing and Warehouse Property For Sale

      Manufacturing and warehouse property on 2.41 acres near I-25.
      1656 E Walnut St, Wheatland, WY 82201
      View Details
    • $179,000
      1,568 SF

      Downtown Corner Lot Stucco Building

      Stucco building with bar, stage, and drive-through window.
      757 Gilchrist St, Wheatland, WY 82201
      View Details
    • $649,000
      4,276 SF

      Restaurant Opportunity in Wheatland, Wyoming

      Restaurant with equipment included in high-visibility Wyoming tourist area.
      92 16th St, Wheatland, WY 82201
      View Details

    FAQs

    What type of property is this?
    Office units - Fully occupied office building with high visibility and great tenants.
    Where is this office units located?
    The property is located at 971 GILCHRIST ST Wheatland, WY.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Fully occupied with great tenants, providing immediate rental income.; Excellent downtown Wheatland location with high visibility.; Great office space in excellent condition with recent improvements.
    (307) 331-0589
    We can help!
    Listing Contact
    Phyllis Gapter
    Real Estate License ID: 11021
    Learn More
    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
    971 GILCHRIST ST, Wheatland, WY 82201
    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!