Mixed-Use Property with Office
For Sale
$1,975,000
1217 S Greeley Hwy, Cheyenne, WY 82007
Office suites, a leased shop, and separate utility metering support flexible occupancy and management.
Property Size5,200 SF
Price / SF$379.81
Days on Market199
Property Features for 1217 S Greeley Hwy
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Commercial
Building Details
Year Built
2006
Listing Agency:
#1 Properties
Listed By:
Natacha Gaspar · License #20220379
(307) 640-6915
Source:
Cheyennehomesource
Added: Mar 31
Changed: Oct 1
Last Checked: Oct 14 at 11:06PM
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 #1 Properties
Investment Insights
Based on property information with market context.
This mixed-use property at 1217 S Greeley Hwy includes a primary commercial building arranged as two office suites with private entrances. Suite A contains 3,000 SF, while Suite B includes 2,200 SF; both suites have a kitchen and two bathrooms. A 1,500-square-foot basement provides storage and conference space. The property also includes a 40' x 96' outbuilding constructed in 2018, with four 16-foot overhead doors, heat, a ventilation system, office space, and a bathroom.
The office occupants may continue or end their occupancy, while the shop remains leased to a mechanic. Separate metering places utility responsibility with each tenant. The approximately 1.97-acre parcel was originally platted for an additional building site between the office building and shop. The property year built is 2006.
The office occupants may continue or end their occupancy, while the shop remains leased to a mechanic. Separate metering places utility responsibility with each tenant. The approximately 1.97-acre parcel was originally platted for an additional building site between the office building and shop. The property year built is 2006.
Key Highlights
- Approximately 1.97 acres with an additional building site originally platted between the office and shop
- Two office suites: Suite A is 3,000 SF and Suite B is 2,200 SF
- Each office suite includes a kitchen, two bathrooms, and a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,647
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,940
$1.2M
Cap Rate 7%
$852,100
$852.1K
Cap Rate 9%
$662,744
$662.7K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$96.7K $18.60/SF
− Vacancy
−$11.5K −$2.21/SF
EGI
$85.2K $16.39/SF
− OpEx
−$25.6K −$4.92/SF
NOI
$59.6K $11.47/SF
Area
Laramie County, WY
Vacancy
11.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,940
Cap Rate 7%
$852,100
Cap Rate 9%
$662,744
Alternative Uses
Best Use
Retail
$852.1K
$745.6K – $994.1K
NOI $59,647 @ 7.0% cap · market cap 3.02%
Second Best
Mixed Use
$520.9K
$455.8K – $607.8K
NOI $36,465 @ 7.0% cap · market cap 1.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 82007, WY
21,249
Population
9,542
Households
2.2
Avg Household Size
35
Median Age
16%
College-Educated
89%
High-School Grad
193.8 sq mi
ZIP Area
110
Density / Sq Mi
$55,461
Median Household Income
$35,537
Median Earnings
$1,120
Median Rent
$218,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Mixed-use property - Office suites, a leased shop, and separate utility metering support flexible occupancy and management.
Where is this mixed-use property located?
The property is located at 1217 S Greeley Hwy Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Approximately 1.97 acres with an additional building site originally platted between the office and shop; Two office suites: Suite A is 3,000 SF and Suite B is 2,200 SF; Each office suite includes a kitchen, two bathrooms, and a private entrance
