Triple-Net Property with Metal
For Sale
$1,950,000
1625 DELL RANGE BLVD, Cheyenne, WY 82009
Commercial/Industrial, Cheyenne, WY
Property Size7,760 SF
Lot Size0.75 Acres
Price / SF$251.29
Days on Market94
Property Features for 1625 DELL RANGE BLVD
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Fixtures, Land
Subdivision
LARAMIE
Standard status
Active
Size
7,760 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3546
Building Details
Year built
1993
Building materials
Steel
Roof type
Metal
Listing Agency:
#1 Properties
(307) 634-2222
Listed By:
Jim Weaver · License #10624
(307) 630-5161
Added: May 19
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# 100842
Copyright © 2026 Cheyenne MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triple-net (NNN) commercial property includes a metal roof and steel construction, built in 1993. The offering is presented with established businesses in place for over 30 years and is configured with building, fixtures, and land included.
Located at 1625 Dell Range Blvd in Cheyenne, WY 82009, the property benefits from high traffic along Dell Range Blvd, with over 30,000 ADT cited. The site sits on 0.75 acres and has 7,760 square feet of property area.
Lease structure is described as absolute triple net, with potentially nine years left in both leases. The current CAP rate, calculated using the current asking price, is approximately 6.8% (per the provided remarks).
Located at 1625 Dell Range Blvd in Cheyenne, WY 82009, the property benefits from high traffic along Dell Range Blvd, with over 30,000 ADT cited. The site sits on 0.75 acres and has 7,760 square feet of property area.
Lease structure is described as absolute triple net, with potentially nine years left in both leases. The current CAP rate, calculated using the current asking price, is approximately 6.8% (per the provided remarks).
Key Highlights
- 0.75‑acre site with 7,760 SF triple‑net property
- Over 30,000 ADT along Dell Range Blvd
- Potential nine years left in both 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
Industrial
$629.7K
$551.0K – $734.6K
NOI $44,077 @ 7.0% cap · market cap 2.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Yes
Paved road access
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?
NNN property - Approximately 6.8% cap rate with potential nine years remaining on absolute triple-net leases.
Where is this nnn property 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: 0.75‑acre site with 7,760 SF triple‑net property; Over 30,000 ADT along Dell Range Blvd; Potential nine years left in both absolute triple‑net leases
