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Property profile & analytics
OFF-MARKET
Estimated value
$1,040,000
Retail space
1620 Thomes Ave Cheyenne, WY 82001-4337
Trust Owned
16-yr Hold
~
Est. High Equity
Property ID
US95-0033584
Property summary
AI-generated overview
This exceptional commercial property, located at 1620 THOMES AVE in Cheyenne, Wyoming, presents a unique investment opportunity. The 0.27-acre lot offers significant potential for a variety of commercial ventures, capitalizing on the dynamic growth of the Cheyenne area. The property's strategic location provides excellent visibility and accessibility, making it an ideal site for businesses seeking a prominent presence in the community. The asking price of $1,100,000 reflects the property's considerable value and future development prospects. Given the size of the lot and its prime location, this property is well-suited for a range of commercial uses, from retail establishments and office spaces to light industrial facilities. Detailed site analysis and zoning information are readily available upon request. This is a rare opportunity to acquire a substantial commercial property in a thriving Wyoming market. Don't miss this chance to secure a valuable asset with significant long-term growth potential. Serious inquiries only. Contact us today to schedule a viewing and explore the possibilities. The property is offered as-is.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1957
Total area
6,677 SF
Lot
0.27 ac (11,616 SF)
Zoning code
CBD
APN
11001039300010
UPID
US95-0033584
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cheyenne Creativity Center Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$897k
Blend (final)
Blend
$1.04M
Owner & transaction history
Lahiff,terrence P & Judy I Trust · 16 yrs held
Lahiff,terrence P & Judy I Trust
since 2010
2 recorded transactions
Zoning & alternative use
CBD · Cheyenne, WY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$795,000
+15.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cheyenne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheyenne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,275,000
6.5%
$1,180,000
7%
$1,095,000
Alternative Use
Use
Estimation
RETAIL STORES
$690,000
Current use
OFFICE BUILDING
$795,000
Change: +16% · Conversion: Easy
RESTAURANT
$670,000
Change: -2% · Conversion: Easy
MEDICAL BUILDING
$665,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$645,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$156 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,603
Tax year 2023
Assessed value
$97,332
Assessed 2024
Previous assessed
$94,836
+2.6% YoY
Effective rate
8.84%
On assessed value
Assessed land
$14,418
Assessed improvement
$82,914
Land market value
$125,373
Improvement market value
$720,987
Total market value
$846,360
Applied tax rate
151.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1957
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
6,677 SF
Lot
0.27 ac (11,616 SF)
Zoning code
CBD
APN
11001039300010
UPID
US95-0033584
Jurisdiction
LARAMIE
Zoning & alternative use
CBD · Cheyenne, WY
Zoning CBD · permitted uses
CBD · Cheyenne, WY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cheyenne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$690,000
OFFICE BUILDING
Est. value
$795,000
RESTAURANT
Est. value
$670,000
MEDICAL BUILDING
Est. value
$665,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$645,000
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Lahiff,terrence P & Judy I Trust
Trust
Mailing address
209 PEGASUS PT, CHEYENNE, WY 82009-8549
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2026
—
Geek Holdings LLC
—
Deed
related
$250,000 · Wyoming Capital Access
May 3, 2010
—
Lahiff,terrence P & Judy I Trust
Lahiff,terrence P & Judy I
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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