6-Plex Apartment with Separate 1-Bedroom
For Sale
$700,000
Pending
103 W 7th St, Gillette, WY 82716
MULTI_FAMILY - Gillette, WY
Property Size5,350 SF
Lot Size0.20 Acres
Days on Market99
Property Features for 103 W 7th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 12, Bathroom 7, Bedroom 6, Bathroom 5, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 8, Bathroom 1, Bedroom 9, Bedroom 11, Bedroom 10, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 7, Bedroom 3, Bathroom 6
Appliances
Range/Oven, Refrigerator, Dishwasher, Dryer, Range Oven, Washer
Directions
Located on the corner of W. 7th St. and S. Gillette Ave.
Subdivision
Downtown Area - Gillette
Standard status
Pending
Size
5,350 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3591
Building Details
Year built
1930
Number of units
7
Listing Agency:
RE/MAX Professionals · RE/MAX International
(307) 682-6622
Listed By:
Stacey MacKearney · License #15014
(307) 660-2678
Added: May 5
Changed: Aug 6
Last Checked: Aug 11 at 11:06PM
MLS# 26-491
Copyright © 2026 Northeast Wyoming REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This downtown income property features a 6-plex along with a separate 568 sq ft 1-bedroom home. Both have been recently remodeled. The setup provides flexible occupancy options while supporting tenant comfort with off-street parking.
Located at 103 W 7th St in Gillette, WY, the property is positioned for convenience to downtown amenities. The overall lot size is 0.2 acres, and the property totals 5,350 square feet. It was built in 1930.
Residential units include in-unit major appliances such as a range/oven, refrigerator, dishwasher, washer, and dryer, supporting everyday liveability for tenants.
Located at 103 W 7th St in Gillette, WY, the property is positioned for convenience to downtown amenities. The overall lot size is 0.2 acres, and the property totals 5,350 square feet. It was built in 1930.
Residential units include in-unit major appliances such as a range/oven, refrigerator, dishwasher, washer, and dryer, supporting everyday liveability for tenants.
Key Highlights
- Includes a 6‑plex plus separate 568 sq ft 1‑bedroom home
- Off‑street parking for residents
- Both the 6‑plex and separate home were recently remodeled
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
$41,173
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
5.88%
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%
$823,460
$823.5K
Cap Rate 7%
$588,186
$588.2K
Cap Rate 9%
$457,478
$457.5K
Market Conditions
NOI Build-Up for 5,350 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
$79.0K $14.76/SF
− Vacancy
−$4.1K −$0.77/SF
EGI
$74.9K $13.99/SF
− OpEx
−$33.7K −$6.30/SF
NOI
$41.2K $7.70/SF
Area
Campbell County, WY
Vacancy
5.20%
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%
$823,460
Cap Rate 7%
$588,186
Cap Rate 9%
$457,478
Alternative Uses
Best Use
Apartment 5plus
$588.2K
$514.7K – $686.2K
NOI $41,173 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$939.3K
$821.9K – $1.10M
NOI $65,751 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 82716, WY
17,094
Population
7,771
Households
2.2
Avg Household Size
36
Median Age
16%
College-Educated
93%
High-School Grad
1,182.7 sq mi
ZIP Area
14
Density / Sq Mi
$77,169
Median Household Income
$45,276
Median Earnings
$890
Median Rent
$234,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - R-2 zoned 6-plex plus separate 1-bedroom home with off-street parking and recently remodeled units.
Where is this apartment building located?
The property is located at 103 W 7th St Gillette, WY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Includes a 6‑plex plus separate 568 sq ft 1‑bedroom home; Off‑street parking for residents; Both the 6‑plex and separate home were recently remodeled
