Commercial Property with Office
For Sale
$1,975,000
1217 S GREELEY HWY, Cheyenne, WY 82007
COMMERCIAL - Cheyenne, WY
Property Size5,200 SF
Lot Size1.97 Acres
Price / SF$379.81
Days on Market47
Property Features for 1217 S GREELEY HWY
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Land
Subdivision
LARAMIE
Standard status
Active
Size
5,200 SF
Lot size
1.97 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ALLISON TRACTS: TRACT 39, EXCEPT THE NORTH 131.95'
Tax Annual Amount
8485
Legal Description
ALLISON TRACTS: TRACT 39, EXCEPT THE NORTH 131.95'
Building Details
Year built
2006
Building materials
Stone
Roof type
Composition, Metal
Listing Agency:
#1 Properties
(307) 634-2222
Listed By:
Natacha Gaspar · License #RE-14023
(307) 640-6915
Added: Jun 17
Changed: Jul 28
Last Checked: Aug 2 at 1:06AM
MLS# 101152
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.
Investment Insights
Based on property information with market context.
Located in Cheyenne, Wyoming, this multi-building commercial property sits on approximately 1.97 acres and includes a main commercial building and an attached shop outbuilding. The main building is approximately 5,264 square feet above grade and is divided into two office suites with private entrances. Suite A is approximately 3,000 square feet and Suite B is approximately 2,200 square feet, and each suite includes its own kitchen and two bathrooms. An additional approximately 1,500-square-foot basement provides storage and conference space.
The property also features a 40’ x 96’ outbuilding constructed in 2018. The shop includes four 16-foot overhead doors, heat, a ventilation system, office space, and a bathroom, and it is currently leased to a mechanic.
The office tenants are open to continuing or terminating their occupancy, while the mechanic lease remains in place. Each tenant is separately metered and responsible for its own utilities. The parcel was originally platted to accommodate an additional building site between the commercial office building and shop, supporting future development, expansion, or alternative owner-occupant use.
The property also features a 40’ x 96’ outbuilding constructed in 2018. The shop includes four 16-foot overhead doors, heat, a ventilation system, office space, and a bathroom, and it is currently leased to a mechanic.
The office tenants are open to continuing or terminating their occupancy, while the mechanic lease remains in place. Each tenant is separately metered and responsible for its own utilities. The parcel was originally platted to accommodate an additional building site between the commercial office building and shop, supporting future development, expansion, or alternative owner-occupant use.
Key Highlights
- Approximately 1.97‑acre parcel with multiple income‑producing buildings and long‑term tenants.
- Main commercial building (built 2006) offers approx. 5,264 SF above grade split into two office suites with private entrances.
- Suite A: approx. 3,000 SF; Suite B: approx. 2,200 SF; each suite includes its own kitchen and two bathrooms.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.7k | $18.60 |
| − Vacancy | −$11.5k | −$2.21 |
| EGI | $85.2k | $16.39 |
| − OpEx | −$25.6k | −$4.92 |
| NOI | $59.6k | $11.47 |
5,200 SF · lease $18.60/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$852.1K
$745.6K – $994.1K
NOI $59,647 @ 7.0% cap · market cap 3.02%
Second Best
Industrial
$421.9K
$369.2K – $492.3K
NOI $29,536 @ 7.0% cap · market cap 1.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
2
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two office suites with private entrances plus a leased outbuilding with overhead doors.
Where is this office units 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‑acre parcel with multiple income‑producing buildings and long‑term tenants.; Main commercial building (built 2006) offers approx. 5,264 SF above grade split into two office suites with private entrances.; Suite A: approx. 3,000 SF; Suite B: approx. 2,200 SF; each suite includes its own kitchen and two bathrooms.
