Mixed-Use Income Multi-Unit
For Sale
Contact for pricing
100 E 28TH ST, Cheyenne, WY 82001
Flexible multi-dwelling setup with a converted carriage house and existing monthly income potential in a mixed-use zone.
Property Size3,362 SF
Price / SF$104.10
Days on Market57
Property Features for 100 E 28TH ST
General Information
Standard status
Active
Size
3,362 SF
Property subtype
Multifamily, Mixed Use
Building Details
Year Built
1921
Listing Agency:
Coldwell Banker | The Property Exchange
(307) 316-2239
Listed By:
Mariah Jeffery · License #WY, RE-16311
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 5 at 2:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker | The Property Exchange
Investment Insights
Based on property information with market context.
This income property at 100 E 28th St, Cheyenne, WY features a flexible multi-dwelling layout that includes a detached garage converted into a private carriage house. The main unit is a 3-bedroom, 2-bath configuration and is currently owner occupied, contributing to the property’s present operating income of $3,100 per month. One unit is currently operating as a short-term rental (Airbnb). The combination of the primary residence and the separate carriage house creates a practical structure for tenants or occupants seeking separate living and working arrangements.
The property is zoned Mixed-Use Business (MUB). Public remarks note direct views of the Capital Building and describe the surrounding area as highly walkable, which can support tenants looking for an in-town setting and convenient access.
For investors or owner-operators, the mixed-use zoning and multi-dwelling configuration offer a straightforward path to tailor occupancy over time. Since one unit is already operating as an Airbnb and the property is described as operating around a 9% cap rate when the owner-occupied unit is rented, buyers may view the asset as an income-focused opportunity with options for adjusting unit mix, including residential rentals, live/work use, or professional office space consistent with the MUB zoning.
The property is zoned Mixed-Use Business (MUB). Public remarks note direct views of the Capital Building and describe the surrounding area as highly walkable, which can support tenants looking for an in-town setting and convenient access.
For investors or owner-operators, the mixed-use zoning and multi-dwelling configuration offer a straightforward path to tailor occupancy over time. Since one unit is already operating as an Airbnb and the property is described as operating around a 9% cap rate when the owner-occupied unit is rented, buyers may view the asset as an income-focused opportunity with options for adjusting unit mix, including residential rentals, live/work use, or professional office space consistent with the MUB zoning.
Key Highlights
- Year built 1921 with a flexible multi‑dwelling layout and mixed‑use potential.
- Generates $3,100/month with the main 3/2 unit currently owner‑occupied.
- Detached garage converted into a private carriage house for additional living or rental use.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.5k | $17.40 |
| − Vacancy | −$2.5k | −$0.73 |
| EGI | $56.0k | $16.67 |
| − OpEx | −$25.2k | −$7.50 |
| NOI | $30.8k | $9.17 |
3,362 SF · lease $17.40/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$488.0K
$427.0K – $569.3K
NOI $34,160 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$440.3K
$385.3K – $513.7K
NOI $30,823 @ 7.0% cap · market cap 8.81%
Theoretical Best
Retail
$550.9K
$482.1K – $642.7K
NOI $38,564 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 82001, WY
37,528
Population
17,977
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
95%
High-School Grad
55.1 sq mi
ZIP Area
681
Density / Sq Mi
$74,149
Median Household Income
$45,456
Median Earnings
$1,044
Median Rent
$291,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible multi-dwelling setup with a converted carriage house and existing monthly income potential in a mixed-use zone.
Where is this duplex located?
The property is located at 100 E 28TH ST Cheyenne, WY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Year built 1921 with a flexible multi‑dwelling layout and mixed‑use potential.; Generates $3,100/month with the main 3/2 unit currently owner‑occupied.; Detached garage converted into a private carriage house for additional living or rental use.
