Historic Mixed-Use Office
1803 Capitol Ave, Cheyenne, WY 82001
New
Landmark downtown building with on-site parking and investment potential.
Type:Special Purpose
Property size:
24,983 SFPrice / SF:
$84/SF- Added:
- May 26, 2026
- Days on Market:
- 5
- Last Refresh:
- May 27 at 8:27 am
Property Features for 1803 Capitol Ave
General Information
- Standard status
- Active
- Size
- 24,983 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1928
Listing agent Bailey Wheeler License #15768
Listing office Coldwell Banker | The Property Exchange
Listing date May 26, 2026
Source Crexi
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
HighLights
- Rare downtown Cheyenne mixed‑use office building with dedicated on‑site parking.
- Strong in‑place income with high occupancy and upside potential.
- Historic building (built in 1928) with extensive modern updates and renovations.
- Includes two separate lots and approximately ±25,000 SF across multiple levels.
- Recent improvements including LED lighting, roof, skylight, carpet, interior, and parking garage enhancements.
- Recognized for architectural significance and historic preservation with multiple awards.
Overview
Located in Downtown Cheyenne, The Teton Building at 1803 Capitol Avenue presents an opportunity to acquire a modernized mixed-use office asset. Constructed in 1928, the property combines historic character with updates completed throughout the years, including renovations and capital improvements. The offering includes two separate lots and contains approximately 25,000 square feet across multiple levels, featuring a passenger elevator, approximately 18 basement parking spaces, and an additional 30 exterior spaces. The building provides income with flexibility for an owner/user or investor seeking additional upside potential. Recent improvements include LED lighting upgrades, roof and skylight improvements, carpet replacement, interior updates, and parking garage enhancements. The Teton Building has received local beautification and historic preservation awards. It offers dedicated parking and long-term investment potential in Wyoming's capital city.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $329.8k | $13.20 |
| − Vacancy | −$49.5k | −$1.98 |
| EGI | $280.3k | $11.22 |
| − OpEx | −$105.1k | −$4.21 |
| NOI | $175.2k | $7.01 |
24,983 SF · lease $13.20/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.50M
$2.19M – $2.92M
NOI $175,193 @ 7.0% cap · market cap 8.34%
Second Best
Office B
$1.82M
$1.59M – $2.12M
NOI $127,448 @ 7.0% cap · market cap 6.07%
Theoretical Best
Retail
$4.09M
$3.58M – $4.78M
NOI $286,570 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Cheyenne
- County
- Laramie
- State
- Wyoming
- Longitude
- -104.8163742
- Latitude
- 41.134712
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Landmark downtown building with on-site parking and investment potential.
Where is this mixed-use property located?
The property is located at 1803 Capitol Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Rare downtown Cheyenne mixed‑use office building with dedicated on‑site parking.; Strong in‑place income with high occupancy and upside potential.; Historic building (built in 1928) with extensive modern updates and renovations.
