Retail Investment Opportunity on
For Sale
$1,950,000
1625 Dell Range Blvd, Cheyenne, WY 82009
Established retail businesses on Dell Range Blvd for sale.
Property Size7,760 SF
Price / SF$251.29
Days on Market103
Property Features for 1625 Dell Range Blvd
General Information
Standard status
Active
Size
7,760 SF
Taxes and HOA fees
Annual Taxes
$3,546
Listing Agency:
#1 Properties
(307) 630-5161
Listed By:
Jim Weaver · License #10624
(307) 630-5161
Source:
Exprealty
Added: May 19
Changed: Aug 22
Last Checked: Aug 26 at 12:24PM
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 #1 Properties
Investment Insights
Based on property information with market context.
This commercial property presents an investment opportunity with established businesses that have been operating for over 30 years. The property is located along Dell Range Blvd, which sees over 30,000 average daily traffic. The property has approximately 7,760 square feet of space. The current capitalization rate, based on the asking price, is approximately 6.8%. There are potentially nine years remaining on both absolute triple net leases.
Key Highlights
- Established businesses in place for over 30 years.
- Approximately 6.8% CAP rate utilizing current asking price.
- Potentially nine years left in absolute triple net leases.
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
$89,012
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
4.56%
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%
$1,780,240
$1.8M
Cap Rate 7%
$1,271,600
$1.3M
Cap Rate 9%
$989,022
$989.0K
Market Conditions
NOI Build-Up for 7,760 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
$144.3K $18.60/SF
− Vacancy
−$17.2K −$2.21/SF
EGI
$127.2K $16.39/SF
− OpEx
−$38.1K −$4.92/SF
NOI
$89.0K $11.47/SF
Area
Laramie 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%
$1,780,240
Cap Rate 7%
$1,271,600
Cap Rate 9%
$989,022
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $89,012 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
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?
Strip mall - Established retail businesses on Dell Range Blvd for sale.
Where is this strip mall located?
The property is located at 1625 Dell Range Blvd Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Established businesses in place for over 30 years.; Approximately 6.8% CAP rate utilizing current asking price.; Potentially nine years left in absolute triple net leases.
