Retail Strip
For Sale
$2,195,000
2206 DELL RANGE BLVD, Cheyenne, WY 82009
For sale retail strip center with approximately 11,783 square feet of space in Cheyenne, Wyoming.
Property Size11,783 SF
Price / SF$186.29
Days on Market41
Property Features for 2206 DELL RANGE BLVD
General Information
Standard status
Active
Size
11,783 SF
Property subtype
Commercial / Industrial
Taxes and HOA fees
Annual Taxes
$9,909
Building Details
Year Built
1985
Stories
2
Listing Agency:
peak properties, LLC
(585) 427-0020
Listed By:
Corey Rang · License #5002
(585) 427-0020
Source:
Sellcheyenne.idxbroker
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 10 at 2:26AM
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 retail strip center is offered for sale and totals approximately 11,783 square feet of commercial space.
The property is located at 2206 Dell Range Blvd in Cheyenne, Wyoming. Please complete the inquiry request for additional information on the available layout and details.
The property is located at 2206 Dell Range Blvd in Cheyenne, Wyoming. Please complete the inquiry request for additional information on the available layout and details.
Key Highlights
- Retail strip center for sale in Cheyenne, Wyoming
- Approximately 11,783 square feet of space
- Year built: 1985
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
$135,158
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
6.16%
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%
$2,703,160
$2.7M
Cap Rate 7%
$1,930,829
$1.9M
Cap Rate 9%
$1,501,756
$1.5M
Market Conditions
NOI Build-Up for 11,783 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
$219.2K $18.60/SF
− Vacancy
−$26.1K −$2.21/SF
EGI
$193.1K $16.39/SF
− OpEx
−$57.9K −$4.92/SF
NOI
$135.2K $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 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%
$2,703,160
Cap Rate 7%
$1,930,829
Cap Rate 9%
$1,501,756
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $135,158 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
624
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 Retail 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?
Strip mall - For sale retail strip center with approximately 11,783 square feet of space in Cheyenne, Wyoming.
Where is this strip mall located?
The property is located at 2206 DELL RANGE BLVD Cheyenne, WY.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Retail strip center for sale in Cheyenne, Wyoming; Approximately 11,783 square feet of space; Year built: 1985
