Renovated Mixed-Use
For Sale
$799,000
2200 LOGAN AVE, Cheyenne, WY 82001
COMMERCIAL - Cheyenne, WY
Property Size3,888 SF
Lot Size0.13 Acres
Price / SF$205.50
Days on Market104
Property Features for 2200 LOGAN AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Business, Fixtures
Subdivision
LARAMIE
Standard status
Active
Size
3,888 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CHEYENNE: EAST 44' OF LOT 8, BLOCK 187
Tax Annual Amount
2705
Legal Description
CHEYENNE: EAST 44' OF LOT 8, BLOCK 187
Amenities
coworking-style room
private offices
full kitchen
restroom
ramp access
vaulted ceiling
exposed wood beams
designer finish package
Building Details
Year built
1941
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(307) 772-1184
Listed By:
JP Fluellen · License #12637
(307) 772-1184
Added: May 12
Changed: Aug 10
Last Checked: Aug 23 at 3:06PM
MLS# 100748
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 3,888-square-foot mixed-use property combines a renovated commercial workspace with three residential apartments. The 1,968 SF main floor includes an open coworking-style room, nine private offices, a full kitchen, restroom, vaulted ceiling with exposed wood beams, new flooring, updated electrical and plumbing, and ramp access. The building was constructed in 1941 and has a frame structure.
The lower level contains two approximately 600 SF one-bedroom, one-bath apartments and one approximately 750 SF two-bedroom, one-bath apartment. Each residence has a separate exterior entrance, and all three apartments have been updated. The commercial space is currently operating as Titan Commons with eight active commercial members, while the apartments are occupied. Commercial leases are month-to-month, allowing flexibility in future occupancy or layout decisions.
Additional property features include a new composition roof installed in 2026, off-street and on-street parking, and a detached two-car garage at the rear. The property is located at 2200 Logan Ave in Cheyenne, Wyoming 82001.
The lower level contains two approximately 600 SF one-bedroom, one-bath apartments and one approximately 750 SF two-bedroom, one-bath apartment. Each residence has a separate exterior entrance, and all three apartments have been updated. The commercial space is currently operating as Titan Commons with eight active commercial members, while the apartments are occupied. Commercial leases are month-to-month, allowing flexibility in future occupancy or layout decisions.
Additional property features include a new composition roof installed in 2026, off-street and on-street parking, and a detached two-car garage at the rear. The property is located at 2200 Logan Ave in Cheyenne, Wyoming 82001.
Key Highlights
- 3,888 SF mixed‑use building with commercial space and three residential apartments
- Renovated 1,968 SF main floor with one open workspace and nine private offices
- Three lower‑level apartments: two approximately 600 SF 1BR/1BA units and one approximately 750 SF 2BR/1BA unit
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
$35,645
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
4.46%
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%
$712,900
$712.9K
Cap Rate 7%
$509,214
$509.2K
Cap Rate 9%
$396,056
$396.1K
Market Conditions
NOI Build-Up for 3,888 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
$67.7K $17.40/SF
− Vacancy
−$2.8K −$0.73/SF
EGI
$64.8K $16.67/SF
− OpEx
−$29.2K −$7.50/SF
NOI
$35.6K $9.17/SF
Area
Laramie County, WY
Vacancy
4.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$712,900
Cap Rate 7%
$509,214
Cap Rate 9%
$396,056
Alternative Uses
Best Use
Apartment 5plus
$509.2K
$445.6K – $594.1K
NOI $35,645 @ 7.0% cap · market cap 4.46%
Second Best
Mixed Use
$389.5K
$340.8K – $454.4K
NOI $27,265 @ 7.0% cap · market cap 3.41%
Theoretical Best
Retail
$637.1K
$557.5K – $743.3K
NOI $44,598 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
803
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?
Mixed-use property - Flexible workspace occupies the main floor, with three apartments below and separate entrances.
Where is this mixed-use property located?
The property is located at 2200 LOGAN AVE Cheyenne, WY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,888 SF mixed‑use building with commercial space and three residential apartments; Renovated 1,968 SF main floor with one open workspace and nine private offices; Three lower‑level apartments: two approximately 600 SF 1BR/1BA units and one approximately 750 SF 2BR/1BA unit
