Building Details

Year Built 1923

Buildings 1

Tenancy Multi

Listing Agency: The Edgeworth Real Estate Firm, LLC Show Phone

Listed By: Jim Edgeworth · License #1411 Show Phone

Source: Jimedgeworth

Added: Sep 30 Changed: Oct 24 Last Checked: Oct 24 at 3:05PM

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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 The Edgeworth Real Estate Firm, LLC

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Investment Insights

Based on property information with market context.

This 1,360-square-foot commercial property contains two suites: 684 square feet at 1449 McKinley and 676 square feet at 1451 McKinley. The first is configured as a hair salon, while the second has a three-piece bathroom, sink, water heater, and laundry. Together, the suites can accommodate up to 7 styling booths. Both spaces have forced-air heat, and the property was built in 1923.

The 0.12-acre parcel is on McKinley Street in Casper. General Business zoning applies to the property.

Key Highlights

• Two suites total 1,360 square feet: 684 square feet and 676 square feet
• Combined layout can accommodate up to 7 styling booths
• Second suite includes a three‑piece bathroom, sink, water heater, and laundry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,087

Cap Rate

5.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,740 $241.7K

Cap Rate 7%

$172,671 $172.7K

Cap Rate 9%

$134,300 $134.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,360 SF

Gross rent

$18.8K $13.80/SF

− Vacancy

−$1.5K −$1.10/SF

EGI

$17.3K $12.70/SF

− OpEx

−$5.2K −$3.81/SF

NOI

$12.1K $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 Rate 5%

$241,740

Cap Rate 7%

$172,671

Cap Rate 9%

$134,300

Alternative Uses

Best Use

Retail

$172.7K

$151.1K – $201.5K (±1% cap)

NOI $12,087 @ 7.0% cap · market cap 5.37%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$303.6K

$265.7K – $354.3K (±1% cap)

NOI $21,255 @ 7.0% cap · market cap 9.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Marc's Classic Barber ... Barber Shop Circle C Coiffures ... Nail Salon

Suggested Use

Top Pick Big Box & Wholesale Store Electrical Service Kitchen & Bath Showroom Bakery HVAC Service (Bike/Boat/Book/etc) Store

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

331

Businesses Nearby

17k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Sinclair Shops & Services

8,973 visits/mo 0.3 miles

Dollar General Shops & Services

7,921 visits/mo 0.1 miles

Kum & Go Shops & Services

538 visits/mo 0.1 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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Spa & wellness property - Two separately addressed spaces include an active salon setup and plumbing, laundry, and restroom features in the second suite.

Where is this spa & wellness property located?

The property is located at 1449 & 1451 McKinley Casper, WY.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Two suites total 1,360 square feet: 684 square feet and 676 square feet; Combined layout can accommodate up to 7 styling booths; Second suite includes a three‑piece bathroom, sink, water heater, and laundry