Highway Corner Flex
2608 S GREELEY HWY Cheyenne, WY 82007
New
For Sale
$888,000
COMMERCIAL - Cheyenne, WY
Property Size8,498 SF
Lot Size1.00 Acre
Price / SF$104.50
Days on Market2
Property Features for 2608 S GREELEY HWY
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Appliances
- Building, Fixtures, Land
- Standard status
- Active
- Size
- 8,498 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LENGTHY SEE DOCUMENTS
- Tax Annual Amount
- 1291
Building Details
- Year built
- 1964
- Building materials
- Block, Concrete, Frame
- Roof type
- Metal, Composition
Listing Agency:
Red Diamond Realty
(970) 573-2814
Listed By:
Jeanine Perry · License #20170451
(970) 573-2814
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 5:06PM
MLS# 101535
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.
Investment Insights
Based on property information with market context.
This for-sale, two-building flex property sits on a full acre at a signalized corner on Highway 85, with roads on three sides. Building 1 is a frame structure with a first floor that is almost 3,000 square feet on a concrete slab. The front functions as a retail showroom with a retail center, bathroom, and substantial storage, while the back area includes a kitchen, living room, another bathroom, and two potential bedrooms. Building 1 also has a second story with approximately 2,300 square feet and wide-open space above an overwidth staircase.
Building 2 includes office and retail space at the front, plus a shop area at the rear. The shop features two overhead doors, a concrete floor, block walls, and an open 2,300 square foot layout, with side wall heights reported as 14 to 15 feet. The property is fenced with mixed fencing from the center of the buildings to the back property line, along with side and front gates.
Overall, the configuration combines showroom/retail, office/retail, and a rear shop suitable for warehouse or workroom use, with multiple access points and overhead door capability.
Building 2 includes office and retail space at the front, plus a shop area at the rear. The shop features two overhead doors, a concrete floor, block walls, and an open 2,300 square foot layout, with side wall heights reported as 14 to 15 feet. The property is fenced with mixed fencing from the center of the buildings to the back property line, along with side and front gates.
Overall, the configuration combines showroom/retail, office/retail, and a rear shop suitable for warehouse or workroom use, with multiple access points and overhead door capability.
Key Highlights
- 1 full acre with 2 buildings at a signalized corner on Highway 85, with roads on 3 sides
- Building 1: nearly 3,000 SF (frame) on a concrete slab; front showroom/retail with bathroom and storage
- Building 1: includes living quarters (kitchen, living room, second bathroom, 2 potential bedrooms) plus an almost 2,300 SF open second floor
Financial Insights For Warehouse
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 | $85.7k | $10.08 |
| − Vacancy | −$16.7k | −$1.97 |
| EGI | $69.0k | $8.11 |
| − OpEx | −$10.3k | −$1.22 |
| NOI | $58.6k | $6.90 |
8,498 SF · lease $10.08/SF/yr · vacancy 19.50% · expense 15.00%
Alternative Uses
Best Use
Retail
$1.39M
$1.22M – $1.62M
NOI $97,477 @ 7.0% cap · market cap 10.98%
Second Best
Warehouse
$837.3K
$732.7K – $976.9K
NOI $58,613 @ 7.0% cap · market cap 6.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - Two-building property on a signalized corner with retail showroom, offices, and a fenced shop with overhead doors.
Where is this flex space located?
The property is located at 2608 S GREELEY HWY Cheyenne, WY.
What is the asking price?
The asking price for this property is $888,000.
What are key features of this property?
This property features: 1 full acre with 2 buildings at a signalized corner on Highway 85, with roads on 3 sides; Building 1: nearly 3,000 SF (frame) on a concrete slab; front showroom/retail with bathroom and storage; Building 1: includes living quarters (kitchen, living room, second bathroom, 2 potential bedrooms) plus an almost 2,300 SF open second floor
