Apartment Building For
For Sale
$1,850,000
1103 OLD TOWN LN 201, Cheyenne, WY 82009
Apartment building available for sale in Cheyenne, Wyoming, offering residential income-focused ownership.
Property Size8,177 SF
Price / SF$226.24
Days on Market61
Property Features for 1103 OLD TOWN LN 201
General Information
Standard status
Active
Size
8,177 SF
Property subtype
Commercial / Industrial
Taxes and HOA fees
Annual Taxes
$7,060
Building Details
Year Built
2008
Stories
2
Listing Agency:
Peak Properties, LLC
(585) 427-0020
Listed By:
Corey Rang · License #5002
(585) 427-0020
Source:
Sellcheyenne.idxbroker
Added: Jun 27
Changed: Aug 8
Last Checked: Aug 26 at 5:31AM
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 Peak Properties, LLC
Investment Insights
Based on property information with market context.
This offering is an apartment building with approximately 8,177 square feet of residential space, presented for sale as a multifamily property. The available information does not break out unit count or interior configuration, so prospective buyers should plan to confirm layout, finishes, and any existing income details during diligence.
Located in Cheyenne, Wyoming, the property is listed at 1103 Old Town Ln, Unit 201. Additional specifics regarding site access, frontage, and surrounding commercial context are not provided in the current materials, so buyers may need to review the property and local details directly.
As a residential income asset, this building may appeal to buyers seeking a multifamily ownership position in Cheyenne. Given the limited provided detail, evaluating the condition of the building, verifying current or historical rent potential, and confirming all operating and compliance considerations will be important next steps. Buyers and their representatives should use the listing as a starting point and request full offering documentation to understand the property’s performance, expenses, and any constraints before making a decision.
Located in Cheyenne, Wyoming, the property is listed at 1103 Old Town Ln, Unit 201. Additional specifics regarding site access, frontage, and surrounding commercial context are not provided in the current materials, so buyers may need to review the property and local details directly.
As a residential income asset, this building may appeal to buyers seeking a multifamily ownership position in Cheyenne. Given the limited provided detail, evaluating the condition of the building, verifying current or historical rent potential, and confirming all operating and compliance considerations will be important next steps. Buyers and their representatives should use the listing as a starting point and request full offering documentation to understand the property’s performance, expenses, and any constraints before making a decision.
Key Highlights
- Apartment building for sale in Cheyenne, Wyoming
- 8,177 SF apartment building
- Built in 2008
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
$74,967
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
4.05%
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%
$1,499,340
$1.5M
Cap Rate 7%
$1,070,957
$1.1M
Cap Rate 9%
$832,967
$833.0K
Market Conditions
NOI Build-Up for 8,177 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
$142.3K $17.40/SF
− Vacancy
−$6.0K −$0.73/SF
EGI
$136.3K $16.67/SF
− OpEx
−$61.3K −$7.50/SF
NOI
$75.0K $9.17/SF
Area
Laramie County, WY
Vacancy
4.20%
Lease Rate
$17.40 /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%
$1,499,340
Cap Rate 7%
$1,070,957
Cap Rate 9%
$832,967
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$937.1K – $1.25M
NOI $74,967 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,795 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
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 - Apartment building available for sale in Cheyenne, Wyoming, offering residential income-focused ownership.
Where is this apartment building located?
The property is located at 1103 OLD TOWN LN 201 Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Apartment building for sale in Cheyenne, Wyoming; 8,177 SF apartment building; Built in 2008
