Retail Property in Casper,
For Sale
$430,500
1455 South McKinley Street, Casper, WY 82601
Spacious 2,460 SF retail property on S McKinley Street.
Property Size2,460 SF
Price / SF$175
Days on Market145
Property Features for 1455 South McKinley Street
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Retail
Listing Agency:
CBRE - Fort Collins
(970) 372-3859
Listed By:
Steve Stoecker · License #16488
(970) 372-3859
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 16 at 6:05AM
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 CBRE - Fort Collins
Investment Insights
Based on property information with market context.
This retail property is located at the corner of E 15th St & S McKinley St in Casper, Wyoming. Constructed in 1982, the building provides 2,460 square feet of interior space. The property is zoned C-2 – General business, which allows a number of uses. The exterior is brick. Note that the pumps, tanks, and canopy will be removed by the current owner, and the deed will be restricted against fuel/c-store uses.
Key Highlights
- Spacious 2,460 sq ft interior.
- Zoned C‑2 General Business allowing a number of uses.
- Convenient location on S McKinley St in Casper.
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
$21,863
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
5.08%
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%
$437,260
$437.3K
Cap Rate 7%
$312,329
$312.3K
Cap Rate 9%
$242,922
$242.9K
Market Conditions
NOI Build-Up for 2,460 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
$33.9K $13.80/SF
− Vacancy
−$2.7K −$1.10/SF
EGI
$31.2K $12.70/SF
− OpEx
−$9.4K −$3.81/SF
NOI
$21.9K $8.89/SF
Area
Natrona County, WY
Vacancy
8.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$437,260
Cap Rate 7%
$312,329
Cap Rate 9%
$242,922
Alternative Uses
Best Use
Retail
$312.3K
$273.3K – $364.4K
NOI $21,863 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$549.2K
$480.6K – $640.8K
NOI $38,447 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Conoco
Shops & Services
5,563 visits/mo
0.1 miles
Little Caesars Pizza
Dining
4,419 visits/mo
0.2 miles
Papa John's Pizza
Dining
2,581 visits/mo
0.3 miles
First Cash Advance
Shops & Services
1,982 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
1,173 visits/mo
0.4 miles
Demographics for 82601, WY
27,180
Population
12,967
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
93%
High-School Grad
478.8 sq mi
ZIP Area
57
Density / Sq Mi
$68,526
Median Household Income
$40,658
Median Earnings
$856
Median Rent
$244,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Spacious 2,460 SF retail property on S McKinley Street.
Where is this retail space located?
The property is located at 1455 South McKinley Street Casper, WY.
What is the asking price?
The asking price for this property is $430,500.
What are key features of this property?
This property features: Spacious 2,460 sq ft interior.; Zoned C‑2 General Business allowing a number of uses.; Convenient location on S McKinley St in Casper.
