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

    Tract 54 W S MILLIRON RD Cheyenne, WY 82009

    View on Map
    For Sale
    $165,000

    Unimproved Residential - Cheyenne, WY

    Lot size:
    4.68 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 8 at 11:06 pm

    Property Features for Tract 54 W S MILLIRON RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fully Fenced, Corral, Horses Allowed
    Fencing
    Fenced, Full
    Standard status
    Active
    Lot size
    4.68 Acres

    Taxes and HOA fees

    Tax Annual Amount
    459.56

    Building Details

    Architectural style
    Other
    Additional Structures
    Corral(s)

    We can help!

    Listing Contact
    Hope Morgan

    Listing agent Hope Morgan

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

    Listing date Mar 27, 2026

    MLS# 100374 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

    Residential Land with Mountain Views

    This 4.68-acre residential land is located in Cheyenne, Wyoming. The property features views of the mountains and is fenced with a gate. It has no HOA and is accessible via county-maintained roads. Electric is available nearby. The property is ready for building a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.90635
    Latitude
    41.217957

    Nearby Similar for Sale

    • $635,000
      2,976 SF

      Cheyenne Commercial Property with Car Storage

      High-visibility Cheyenne property with gated car storage and workspace.
      803 W LINCOLNWAY, Cheyenne, WY 82001
      View Details
    • $800,000
      6,000 SF

      Cheyenne Office Building on Lincolnway

      6,000 SF office building with shared or single tenant options.
      813 E LINCOLNWAY, Cheyenne, WY 82001
      View Details
    • $2,844,000
      14,100 SF

      Versatile Commercial Building in Cheyenne

      Multi-functional commercial building in a high-visibility location.
      6725 FAITH DR, Cheyenne, WY 82009
      View Details
    • $4,100,000
      12,746 SF

      Class-A Office Building, Cheyenne

      Updated, fully leased commercial office building in downtown Cheyenne.
      222 E 18TH ST, Cheyenne, WY 82001-4508
      View Details
    • $925,555

      RANCH Home with High-End Finishes

      New home with high-end finishes, multi-use garage, covered patio.
      8205 MISTY MOUNTAIN RD, Cheyenne, WY 82009
      View Details
    • $3,800,000
      9,636 SF

      Cheyenne Commercial Property For Sale

      NNN lease with corporate guarantee in Cheyenne, Wyoming.
      245 STOREY BLVD, Cheyenne, WY 82009
      View Details
    • $1,375,000
      5,847 SF

      Cheyenne Commercial Building For Sale

      Leased commercial building in North Cheyenne with excellent access.
      5320 EDUCATION DR, Cheyenne, WY 82009
      View Details
    • $599,000

      Updated Ranch-Style Home on Acreage

      Modern luxury meets country charm on 2.5 acres.
      1319 TERRY RANCH RD, Cheyenne, WY 82007
      View Details
    • $950,000

      Cheyenne Commercial Lot Near Highway

      Open commercial lot with utilities and highway access in Cheyenne.
      Tr 3 HIGH PLAINS RD, Cheyenne, WY 82007
      View Details
    • $950,000

      Cheyenne Commercial Lot Near Highway

      Open commercial lot with utilities near major developments and highway.
      Tr 2 HIGH PLAINS RD, Cheyenne, WY 82007
      View Details
    • $849,000

      Cheyenne Ranch with Modern Farmhouse

      Custom-built home on 8.38 acres with luxury finishes.
      1650 NORTH RIDGE DR, Cheyenne, WY 82009
      View Details
    • $599,500

      Spacious Ranch Home on Acreage

      Ranch-style home on 4.5 acres near Storey Blvd, Cheyenne.
      3518 GLENCOE DR, Cheyenne, WY 82009
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Acreage ready for a dream home with mountain views.
    Where is this residential land & home lot located?
    The property is located at Tract 54 W S MILLIRON RD Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: Mountain views; Acreage ready to build on; No HOA
    (307) 640-7219
    We can help!
    Listing Contact
    Hope Morgan
    Real Estate License ID: RE-15458
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!