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    Corner Automotive Shop Property Title is generated by Realmo AI

    1216 S GREELEY HWY, Cheyenne, WY 82007

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    For Sale
    $2,990,900

    COMMERCIAL - Cheyenne, WY

    Property size:
    1,500 SF
    Lot size:
    5.75 Acres
    Price / SF:
    $1,993/SF
    Added:
    Jan 26, 2022
    Days on Market:
    1589
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 1216 S GREELEY HWY

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Appliances
    Building
    Standard status
    Active
    Size
    1,500 SF
    Lot size
    5.75 Acres

    Taxes and HOA fees

    Tax Year
    2021
    Tax Description
    lengthy
    Tax Annual Amount
    1650

    Building Details

    Year built
    1997
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Corey Rang
    Corey Rang

    Listing agent Corey Rang License #5002

    Listing office Peak Properties, LLC 2822 WARREN AVE, CHEYENNE, WY

    Listing date Jan 26, 2022

    MLS# 84800

    Copyright © 2026 Cheyenne Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5.75‑acre corner lot with large frontage on Greeley Hwy and Prosser Rd
    • Currently operating as Marks Motors
    • Includes an office/shop and a .36 brick home
    • Metal roof; frame construction; year built 1997
    • Seller is willing to split part of the lot—call for details

    Overview

    This for-sale automotive property includes an office/shop and a very nice brick home, set on a 5.75-acre site. The listing notes a current tenant/operation of Marks Motors. The property is described as having substantial frontage and includes space that could accommodate site-based business activity tied to the automotive use.

    The site is positioned on a corner lot with large frontage along S Greeley Hwy and Prosser Road in Cheyenne, WY. The public remarks also call out high traffic for the location, and the property is specifically identified at 1216 S Greeley Hwy, Cheyenne, WY 82007.

    For buyers seeking an automotive property with on-site office/shop space and residential-style improvements, this offering provides both operational and supplemental space on a prominent corner. The seller indicates willingness to split part of the lot, which may be useful for operators or investors looking for flexibility on how the land is assembled or used. Call for details on any proposed split configuration.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marks Motors Car Dealership

    Suggested Use

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

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

    Similar Places Nearby

    • C&G Auto and Roadside, LLC — 508 W College Dr, Cheyenne, WY 82007
    • T and T Auto Center — 613 W College Dr, Cheyenne, WY 82007
    • J's Automotive — S Greeley Hwy, Cheyenne, WY 82007
    • Umbrella Roadside Assistance — 508 W College Dr SPC 14, Cheyenne, WY 82007
    • Cascade Auto Glass — 1903 S Greeley Hwy F, Cheyenne, WY 82007

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.801082
    Latitude
    41.106187

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    FAQs

    What type of property is this?
    Auto shop - Automotive-focused property on a corner lot with office/shop space and a brick home on a high-traffic site.
    Where is this auto shop located?
    The property is located at 1216 S GREELEY HWY Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $2,990,900.
    What are key features of this property?
    This property features: 5.75‑acre corner lot with large frontage on Greeley Hwy and Prosser Rd; Currently operating as Marks Motors; Includes an office/shop and a .36 brick home
    (307) 640-3148
    We can help!
    Listing Contact
    Corey Rang
    Corey Rang
    Real Estate License ID: 5002
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    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.

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