Restaurant Building with Commercial
For Sale
$1,260,000
1612 W 2nd St, Gillette, WY 82716
Established commercial property with restaurant improvements, on-site parking, and prominent street exposure.
Property Size4,809 SF
Price / SF$262.01
Days on Market38
Property Features for 1612 W 2nd St
General Information
Standard status
Active
Size
4,809 SF
Property subtype
Commercial
Building Details
Year Built
1979
Listing Agency:
ERA Priority Real Estate
(307) 686-9200
Listed By:
Stephanie Bryce · License #20210608165706353587000000
Source:
Campbellcountyhomeguide
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 25 at 5:59AM
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 ERA Priority Real Estate
Investment Insights
Based on property information with market context.
Located at 1612 W 2nd St in Gillette, Wyoming, this 4,809-square-foot commercial building is configured for restaurant operations and includes a commercial kitchen. The property was built in 1979 and offers parking along with street exposure.
Recent work includes a new roof and multiple interior upgrades completed within the past two years. The existing business is continuing operations while the property is marketed, allowing the restaurant to remain open during the sale process. The building may also be repurposed for other commercial uses, subject to applicable requirements.
Recent work includes a new roof and multiple interior upgrades completed within the past two years. The existing business is continuing operations while the property is marketed, allowing the restaurant to remain open during the sale process. The building may also be repurposed for other commercial uses, subject to applicable requirements.
Key Highlights
- 4,809‑square‑foot restaurant property at 1612 W 2nd St, Gillette, WY 82716
- Commercial kitchen included
- New roof and multiple interior upgrades completed within the past two years
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
$59,102
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
4.69%
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%
$1,182,040
$1.2M
Cap Rate 7%
$844,314
$844.3K
Cap Rate 9%
$656,689
$656.7K
Market Conditions
NOI Build-Up for 4,809 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
$89.4K $18.60/SF
− Vacancy
−$10.6K −$2.21/SF
EGI
$78.8K $16.39/SF
− OpEx
−$19.7K −$4.10/SF
NOI
$59.1K $12.29/SF
Area
Campbell County, WY
Vacancy
11.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,182,040
Cap Rate 7%
$844,314
Cap Rate 9%
$656,689
Alternative Uses
Best Use
Specialty Retail
$844.3K
$738.8K – $985.0K
NOI $59,102 @ 7.0% cap · market cap 4.69%
Second Best
Industrial
$410.1K
$358.8K – $478.5K
NOI $28,707 @ 7.0% cap · market cap 2.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
75k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 42%
Hotels & Casinos 11%
McDonald's
Dining
19,691 visits/mo
0.4 miles
Shell
Shops & Services
19,347 visits/mo
0.2 miles
Kum & Go
Shops & Services
9,342 visits/mo
0.4 miles
Pizza Ranch
Dining
6,785 visits/mo
0.4 miles
Sinclair
Shops & Services
4,548 visits/mo
0.3 miles
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 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?
Conventional restaurant - Established commercial property with restaurant improvements, on-site parking, and prominent street exposure.
Where is this conventional restaurant located?
The property is located at 1612 W 2nd St Gillette, WY.
What is the asking price?
The asking price for this property is $1,260,000.
What are key features of this property?
This property features: 4,809‑square‑foot restaurant property at 1612 W 2nd St, Gillette, WY 82716; Commercial kitchen included; New roof and multiple interior upgrades completed within the past two years
