Flex Building With Warehouse
For Sale
$900,000
Pending
1328 English Ave, Casper, WY 82601
Office, showroom, and warehouse components support varied commercial operations.
Property Size11,300 SF
Lot Size2.00 Acres
Days on Market37
Property Features for 1328 English Ave
General Information
Standard status
Pending
Size
11,300 SF
Lot size
2.00 Acres
Additional Details
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$6,394
Amenities
conference room
break room
Building Details
Buildings
1
Building Size
11,300 SF
Listing Agency:
RE/MAX The Group
(307) 262-1454
Listed By:
Peter Greiner · License #RE-14194
(307) 262-1454
Source:
Exprealty
Added: Jul 7
Changed: Aug 12
Last Checked: Aug 12 at 5:05AM
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 RE/MAX The Group
Investment Insights
Based on property information with market context.
This flex property combines professional office space, customer-facing showroom functions, and a substantial warehouse within one commercial building. The 11,300-square-foot facility includes four private offices, a conference room, break room, and two restrooms, along with a retail/showroom area and customer counter for sales activity.
The warehouse is configured for equipment, inventory, truck, and trailer access through four 14-foot overhead doors. Heating is provided by two gas-fired forced-air units and one radiant heater. The building occupies a 2-acre lot at 1328 English Ave in Casper, Wyoming, offering a consolidated setting for office, showroom, and warehouse operations.
The warehouse is configured for equipment, inventory, truck, and trailer access through four 14-foot overhead doors. Heating is provided by two gas-fired forced-air units and one radiant heater. The building occupies a 2-acre lot at 1328 English Ave in Casper, Wyoming, offering a consolidated setting for office, showroom, and warehouse operations.
Key Highlights
- 11,300‑square‑foot commercial building on a 2‑acre lot
- Four 14‑foot overhead doors support truck, trailer, equipment, and inventory access
- Four private offices, conference room, break room, and two restrooms
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
$64,896
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
7.21%
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%
$1,297,920
$1.3M
Cap Rate 7%
$927,086
$927.1K
Cap Rate 9%
$721,067
$721.1K
Market Conditions
NOI Build-Up for 11,300 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
$107.1K $9.48/SF
− Vacancy
−$7.3K −$0.64/SF
EGI
$99.8K $8.84/SF
− OpEx
−$34.9K −$3.09/SF
NOI
$64.9K $5.74/SF
Area
Natrona County, WY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,297,920
Cap Rate 7%
$927,086
Cap Rate 9%
$721,067
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,345 @ 7.0% cap · market cap 13.93%
Second Best
Retail
$1.43M
$1.26M – $1.67M
NOI $100,425 @ 7.0% cap · market cap 11.16%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,605 @ 7.0% cap · market cap 19.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
405
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 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?
Flex space - Office, showroom, and warehouse components support varied commercial operations.
Where is this flex space located?
The property is located at 1328 English Ave Casper, WY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 11,300‑square‑foot commercial building on a 2‑acre lot; Four 14‑foot overhead doors support truck, trailer, equipment, and inventory access; Four private offices, conference room, break room, and two restrooms
