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

    1620 Thomes Ave Cheyenne, WY 82001

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    Prime 0.27-acre commercial lot. High-growth potential.

    Property Features for 1620 Thomes Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    11,761 SF

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Steven Prescott

    Listing Agency: RE/MAX Capitol Properties Listing Agent: Steven Prescott

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    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 Insight Report Location Intelligence

    Current Use by Public Records

    Cheyenne Creativity Center Theater & Performing Art Venue

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.8193
    Latitude
    41.13195

    Nearby Similar for Sale

    • New
      Contact for pricing
      1,938 SF

      Medical Office Building on Dell Range

      Medical office space for lease in Cheyenne, Wyoming.
      1950 Bluegrass Cir, Cheyenne, WY 82009
      View Details
    • New
      $835,000
      2,352 SF

      Cheyenne Ranch Home on Acreage

      Spacious ranch home on 4.87 acres with picturesque pond.
      1685 Moriah Ln, Cheyenne, WY 82009
      View Details
    • New
      $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
    • New
      Contact for pricing
      592 SF

      Downtown Office Space Available

      Office space in a great downtown location.
      1902 Thomes Ave, Cheyenne, WY 82001
      View Details
    • New
      $5,750,000
      60,084 SF

      Cheyenne Commercial Building For Sale

      Commercial building with retail and warehouse space in Cheyenne, Wyoming.
      3501 E Lincolnway, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      1,290 SF

      High-Visibility Retail/Office/Salon Space

      Retail/office/salon space with basement apartment and detached garage.
      720 E Lincolnway, Cheyenne, WY 82001
      View Details
    • $1,600,000
      5,924 SF

      Class A Office Building

      Fully leased Class A office building in Cheyenne, Wyoming.
      7338 Stockman St, 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
      View Details
    • $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
    • $759,000
      2,000 SF

      Cheyenne Ranch Home on Acreage

      New ranch home with quality craftsmanship on over 5 acres.
      66 Fire Rock Dr, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      1,650 SF

      Prime Downtown Cheyenne Office Space

      High-visibility corner office space in the heart of Cheyenne.
      1810 Capitol Ave, Cheyenne, WY 82001
      View Details
    • $569,900
      3,170 SF

      Wyoming Home on Peaceful Acres

      Spacious 5-bed, 3-bath home on 6.62 acres near town.
      10531 Choke Cherry Rd, Cheyenne, WY 82009
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime 0.27-acre commercial lot. High-growth potential.
    Where is this commercial real estate located?
    The property is located at 1620 Thomes Ave Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $1,100,000.
    (307) 635-0303
    Request Owner's contact information
    1620 Thomes Ave Cheyenne, WY 82001
    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.
    1620 Thomes Ave
    Cheyenne, WY 82001
    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
    1620 Thomes Ave Cheyenne, WY 82001
    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

    We can help!
    Listing Contact
    Steven Prescott
    (307) 635-0303 (307) 630-9342
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!