Car Wash and Automotive Retail
For Sale
Contact for pricing
1822 Logan Avenue, Cheyenne, WY 82001
Corner commercial property with two bay doors, office/reception, restrooms, and paved off-street parking.
Property Size1,644 SF
Lot Size0.32 Acres
Price / SF$249.39
Days on Market347
Property Features for 1822 Logan Avenue
General Information
Standard status
Active
Size
1,644 SF
Lot size
0.32 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker Commercial | The Property Exchange
(307) 631-0202
Listed By:
Bailey Wheeler · License #15768
(307) 631-0202
Source:
Moodyscre
Added: Sep 9, 2025
Changed: Aug 8
Last Checked: Aug 8 at 8:03PM
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 Commercial | The Property Exchange
Investment Insights
Based on property information with market context.
This commercial property is positioned for automotive and retail use and includes a building with two bay doors, an office/reception area, and restrooms. The site also features a paved lot designed for off-street parking.
Located on a highly visible corner lot at the intersection of Logan and 19th in Cheyenne, Wyoming, the property benefits from straightforward access to passing traffic and visibility from both directions.
The available configuration supports a range of operational concepts, including car wash and automotive services, retail, coffee shop, or showroom uses, as well as redevelopment considerations.
Located on a highly visible corner lot at the intersection of Logan and 19th in Cheyenne, Wyoming, the property benefits from straightforward access to passing traffic and visibility from both directions.
The available configuration supports a range of operational concepts, including car wash and automotive services, retail, coffee shop, or showroom uses, as well as redevelopment considerations.
Key Highlights
- 0.32‑acre commercial corner lot on Logan Ave and 19th at a busy intersection
- Features two bay doors, an office/reception area, and restrooms
- Paved off‑street parking with ample parking on‑site
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
$18,858
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
4.60%
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%
$377,160
$377.2K
Cap Rate 7%
$269,400
$269.4K
Cap Rate 9%
$209,533
$209.5K
Market Conditions
NOI Build-Up for 1,644 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
$30.6K $18.60/SF
− Vacancy
−$3.6K −$2.21/SF
EGI
$26.9K $16.39/SF
− OpEx
−$8.1K −$4.92/SF
NOI
$18.9K $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%
$377,160
Cap Rate 7%
$269,400
Cap Rate 9%
$209,533
Alternative Uses
Best Use
Retail
$269.4K
$235.7K – $314.3K
NOI $18,858 @ 7.0% cap · market cap 4.60%
Second Best
Industrial
$133.4K
$116.7K – $155.6K
NOI $9,338 @ 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
1,151
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Corner commercial property with two bay doors, office/reception, restrooms, and paved off-street parking.
Where is this car wash located?
The property is located at 1822 Logan Avenue Cheyenne, WY.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 0.32‑acre commercial corner lot on Logan Ave and 19th at a busy intersection; Features two bay doors, an office/reception area, and restrooms; Paved off‑street parking with ample parking on‑site
