Five-Unit Apartment
For Sale
$255,000
1011 East B Street, Casper, WY 82601
Wood-frame apartment property with General business zoning and established physical improvements.
Property Size2,412 SF
Price / SF$105.72
Days on Market180
Property Features for 1011 East B Street
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Multi-family / Multi-Family 4+
Zoning
General business
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$2,191
Amenities
Range/Oven, Refrigerator
Architectural
Chain Link
Frame-Lap
Wood Frame
No
Building Details
Year Built
1917
Listing Agency:
Coldwell Banker The Legacy Group
(307) 315-6161
Listed By:
Tanner Vivian · License #RE-14222
(307) 315-6161
Source:
Compass
Added: Mar 5
Changed: Aug 31
Last Checked: Aug 29 at 3:05PM
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 Legacy Group
Investment Insights
Based on property information with market context.
This apartment offering comprises a five-unit portfolio associated with 1011 East B Street in Casper, Wyoming. The property dates to 1917 and features wood-frame construction with frame-lap exterior elements and chain-link fencing. General business zoning applies to the property. The recorded interior features include a range/oven and refrigerator. The asset is identified as an apartment building and is offered for sale.
Key Highlights
- Five‑unit apartment portfolio
- General business zoning
- 1917 construction date
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,758
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$375,160
$375.2K
Cap Rate 7%
$267,971
$268.0K
Cap Rate 9%
$208,422
$208.4K
Market Conditions
NOI Build-Up for 2,412 SF
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.
Gross rent
$35.6K $14.76/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$34.1K $14.14/SF
− OpEx
−$15.3K −$6.36/SF
NOI
$18.8K $7.78/SF
Area
Natrona County, WY
Vacancy
4.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$375,160
Cap Rate 7%
$267,971
Cap Rate 9%
$208,422
Alternative Uses
Best Use
Apartment 5plus
$268.0K
$234.5K – $312.6K
NOI $18,758 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$538.5K
$471.2K – $628.3K
NOI $37,697 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 82601, WY
27,180
Population
12,967
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
93%
High-School Grad
478.8 sq mi
ZIP Area
57
Density / Sq Mi
$68,526
Median Household Income
$40,658
Median Earnings
$856
Median Rent
$244,200
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?
Apartment building - Wood-frame apartment property with General business zoning and established physical improvements.
Where is this apartment building located?
The property is located at 1011 East B Street Casper, WY.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Five‑unit apartment portfolio; General business zoning; 1917 construction date
