Sizable Office
For Sale
Contact for pricing
1780 Westland Road, Cheyenne, WY 82001
Multi-building office campus available for sale in Cheyenne, offering room for an operating company or portfolio use.
Property Size23,994 SF
Price / SF$114.61
Days on Market57
Property Features for 1780 Westland Road
General Information
Standard status
Active
Size
23,994 SF
Property subtype
Office
Zoning
CB
Building Details
Year Built
1977
Buildings
3
Units
35
Listing Agency:
Coldwell Banker | The Property Exchange
(307) 214-7050
Listed By:
Lexi Leckemby · License #WY
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 10 at 10:56AM
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 Coldwell Banker | The Property Exchange
Investment Insights
Based on property information with market context.
This for-sale office campus is described as sizable, providing a multi-building office setup suited for tenant and owner-operator needs. As an office property, the improvements are positioned to support day-to-day workplace functions across the campus rather than a single, standalone structure.
The property is located at 1780 Westland Road in Cheyenne, Wyoming. Its address provides straightforward access for business traffic associated with office use.
For tenants and buyers evaluating office space, the campus configuration can be practical when you need flexibility across multiple offices or teams, or when you are considering an ownership strategy for a consolidated office footprint. Prospective buyers can review the campus layout and building count on-site to confirm how the existing office arrangement aligns with their staffing, rooming, and operational workflow goals.
The property is located at 1780 Westland Road in Cheyenne, Wyoming. Its address provides straightforward access for business traffic associated with office use.
For tenants and buyers evaluating office space, the campus configuration can be practical when you need flexibility across multiple offices or teams, or when you are considering an ownership strategy for a consolidated office footprint. Prospective buyers can review the campus layout and building count on-site to confirm how the existing office arrangement aligns with their staffing, rooming, and operational workflow goals.
Key Highlights
- Multi‑building office campus for sale in Cheyenne, WY
- Year built: 1977
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
$122,403
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
4.45%
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%
$2,448,060
$2.4M
Cap Rate 7%
$1,748,614
$1.7M
Cap Rate 9%
$1,360,033
$1.4M
Market Conditions
NOI Build-Up for 23,994 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
$192.9K $8.04/SF
− Vacancy
−$29.7K −$1.24/SF
EGI
$163.2K $6.80/SF
− OpEx
−$40.8K −$1.70/SF
NOI
$122.4K $5.10/SF
Area
Laramie County, WY
Vacancy
15.40%
Lease Rate
$8.04 /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%
$2,448,060
Cap Rate 7%
$1,748,614
Cap Rate 9%
$1,360,033
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,403 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.93M
$3.44M – $4.59M
NOI $275,226 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 82001, WY
37,528
Population
17,977
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
95%
High-School Grad
55.1 sq mi
ZIP Area
681
Density / Sq Mi
$74,149
Median Household Income
$45,456
Median Earnings
$1,044
Median Rent
$291,400
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 building - Multi-building office campus available for sale in Cheyenne, offering room for an operating company or portfolio use.
Where is this office building located?
The property is located at 1780 Westland Road Cheyenne, WY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Multi‑building office campus for sale in Cheyenne, WY; Year built: 1977
