Listing Agency: NAI Business Properties Show Phone

Listed By: Matt Robertson, SIOR Show Phone

Source: Moodyscre

Added: Apr 21, 2025 Changed: Aug 7 Last Checked: Sep 13 at 10:29AM

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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 NAI Business Properties

Investment Insights

Based on property information with market context.

This for-sale industrial warehouse/distribution facility includes a 20,230 SF building on 5.88 acres. The property is reported as 100% occupied and is described in the listing remarks as well-maintained.

The asset is located in Bar Nunn outside of Casper, Wyoming. It is presented as an industrial warehouse/distribution use opportunity.

The offering is tailored for users seeking an industrial building configuration suitable for warehouse and distribution operations, with occupancy already in place according to the provided remarks.

Key Highlights

• 20,230 SF industrial/warehouse/distribution building
• Located on 5.88 acres
• 100% occupancy

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

$114,893

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

5.11%

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%

$2,297,860 $2.3M

Cap Rate 7%

$1,641,329 $1.6M

Cap Rate 9%

$1,276,589 $1.3M

Market Conditions

NOI Build-Up for 20,230 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

$140.8K $6.96/SF

− Vacancy

−$5.6K −$0.28/SF

EGI

$135.2K $6.68/SF

− OpEx

−$20.3K −$1.00/SF

NOI

$114.9K $5.68/SF

Area

Natrona County, WY

Vacancy

4.00%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

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%

$2,297,860

Cap Rate 7%

$1,641,329

Cap Rate 9%

$1,276,589

Alternative Uses

Best Use

Warehouse

$1.64M

$1.44M – $1.91M (±1% cap)

NOI $114,893 @ 7.0% cap · market cap 5.11%

Second Best

Industrial

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,257 @ 7.0% cap · market cap 3.97%

Theoretical Best

Office A

$4.52M

$3.95M – $5.27M (±1% cap)

NOI $316,171 @ 7.0% cap · market cap 14.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Distribution centers

Suggested Use

Top Pick Auto Parts Store Big Box & Wholesale Store Restaurant Auto Repair Shop Storage Facility Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

62

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

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 Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Bar Nunn Storage — 1401 Sunset Blvd, Bar Nunn, WY 82601
• Best Storage Bar Nunn — 5060 Wardwell Industrial Ave Bar, Bar Nunn, WY 82601

Frequently Asked Questions

What type of property is this?

Warehouse - Well-maintained warehouse and distribution building totaling 20,230 square feet on 5.88 acres.

Where is this warehouse located?

The property is located at 1100 W Coyote Ave Bar Nunn, WY.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: 20,230 SF industrial/warehouse/distribution building; Located on 5.88 acres; 100% occupancy