Office Unit with Reception
For Sale
Contact for pricing
Pending
439 Prairieview Dr. Suite B, Gillette, WY 82716
Established office unit with two private offices, a conference room, reception area, and half bathroom.
Property Size739 SF
Days on Market627
Property Features for 439 Prairieview Dr. Suite B
General Information
Standard status
Pending
Size
739 SF
Property subtype
Office
Zoning
C-O
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$12,092
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
HOA Fee
$88.18
Building Details
Year Built
1979
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Pat Avery Real Estate
Listed By:
Pat Avery · License #WY 320
Source:
Crexi
Added: Dec 12, 2024
Changed: Aug 30
Last Checked: Aug 30 at 11:00AM
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 Pat Avery Real Estate
Investment Insights
Based on property information with market context.
This 739-square-foot office unit was built in 1979 and is zoned C-O. The layout includes two offices, a reception area, a conference room, and a half bathroom, supporting a compact professional office configuration.
The property is located at 439 Prairieview Dr., Suite B, across Douglas Hwy from McDonalds. The current tenant has occupied the space for 28 years, and the existing lease runs through October 31, 2027. Tenants pay their own electric service. Association dues cover water, sewer, trash pickup, building insurance, and parking lot snow removal.
The property is located at 439 Prairieview Dr., Suite B, across Douglas Hwy from McDonalds. The current tenant has occupied the space for 28 years, and the existing lease runs through October 31, 2027. Tenants pay their own electric service. Association dues cover water, sewer, trash pickup, building insurance, and parking lot snow removal.
Key Highlights
- 739‑square‑foot office unit at 439 Prairieview Dr., Suite B
- Zoned C‑O
- Two offices, reception area, conference room, and 1/2 bathroom
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
$8,477
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
8.93%
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%
$169,540
$169.5K
Cap Rate 7%
$121,100
$121.1K
Cap Rate 9%
$94,189
$94.2K
Market Conditions
NOI Build-Up for 739 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
$13.7K $18.60/SF
− Vacancy
−$1.6K −$2.21/SF
EGI
$12.1K $16.39/SF
− OpEx
−$3.6K −$4.92/SF
NOI
$8.5K $11.47/SF
Area
Campbell 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%
$169,540
Cap Rate 7%
$121,100
Cap Rate 9%
$94,189
Alternative Uses
Best Use
Retail
$121.1K
$106.0K – $141.3K
NOI $8,477 @ 7.0% cap · market cap 8.93%
Second Best
Office B
$103.3K
$90.4K – $120.6K
NOI $7,233 @ 7.0% cap · market cap 7.62%
Theoretical Best
Specialty Retail
$129.7K
$113.5K – $151.4K
NOI $9,082 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 82716, WY
17,094
Population
7,771
Households
2.2
Avg Household Size
36
Median Age
16%
College-Educated
93%
High-School Grad
1,182.7 sq mi
ZIP Area
14
Density / Sq Mi
$77,169
Median Household Income
$45,276
Median Earnings
$890
Median Rent
$234,700
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 - Established office unit with two private offices, a conference room, reception area, and half bathroom.
Where is this office units located?
The property is located at 439 Prairieview Dr. Suite B Gillette, WY.
What is the asking price?
The asking price for this property is $94,900.
What are key features of this property?
This property features: 739‑square‑foot office unit at 439 Prairieview Dr., Suite B; Zoned C‑O; Two offices, reception area, conference room, and 1/2 bathroom
