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    Commercial Land with Interstate Visibility Title is generated by Realmo AI

    1905 16TH ST, Wheatland, WY 82201

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    For Sale
    $750,000

    COMMERCIAL - Wheatland, WY

    Lot size:
    3.40 Acres
    Added:
    Sep 30, 2023
    Days on Market:
    978
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 1905 16TH ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.40 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    SQUAW MOUNTAIN, TRACT 8
    Tax Annual Amount
    148

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Kevin Perry

    Listing agent Kevin Perry License #RE-15877

    Listing office Red Diamond Realty 3001 Henderson Dr, Cheyenne, WY

    Listing date Sep 30, 2023

    MLS# 91448 Listing URL

    Copyright © 2026 Cheyenne Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.4‑acre commercial lot on the main drag of Wheatland
    • Visible from both north and south lanes of Interstate 25
    • Backs up to Interstate 25
    • Commercial zoning; no covenants reported
    • Public water available

    Overview

    A 3.4-acre commercial land parcel offered for sale at 1905 16TH ST in Wheatland, WY. The property is described as a one-of-a-kind lot with interstate access visibility from both north and south lanes. The site backs up to Interstate 25 and is presented as having room for large parking or the ability to support multiple businesses. The seller states the lot has commercial zoning and no covenants.

    According to the public remarks, the location is on the main drag of Wheatland and sits between a hotel and an RV park. The lot is visible from the interstate and also has a nearby billboard that may be utilized.

    This property is likely to appeal to buyers or operators looking for a flexible commercial site where visibility and parking can play a central role. With commercial zoning and no covenants noted by the seller, it may be a practical fit for a range of retail or service concepts that benefit from highway exposure and roadside presence, subject to buyer and applicable approval requirements. The seller specifically references potential interest in uses such as a restaurant, car wash, department store, and clothing-related retail.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheatland
    County
    Platte
    State
    Wyoming
    Longitude
    -104.964192
    Latitude
    42.066545

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    FAQs

    What type of property is this?
    Commercial land - Commercially zoned lot with no covenants and interstate-adjacent visibility for parking or multiple business concepts.
    Where is this commercial land located?
    The property is located at 1905 16TH ST Wheatland, WY.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 3.4‑acre commercial lot on the main drag of Wheatland; Visible from both north and south lanes of Interstate 25; Backs up to Interstate 25
    (970) 673-2625
    We can help!
    Listing Contact
    Kevin Perry
    Real Estate License ID: RE-15877
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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