Leased Medical Office
For Sale
$435,000
3116 ACACIA DR, Cheyenne, WY 82001
Commercial/Industrial, Cheyenne, WY
Property Size5,002 SF
Lot Size0.14 Acres
Price / SF$86.97
Days on Market360
Property Features for 3116 ACACIA DR
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Fixtures, Land
Subdivision
LARAMIE
Standard status
Active
Size
5,002 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEECH SUBDIVISION: LOT 4, BLOCK 44
Tax Annual Amount
3163
Legal Description
LEECH SUBDIVISION: LOT 4, BLOCK 44
Building Details
Year built
1962
Building materials
Brick
Roof type
Membrane
Listing Agency:
#1 Properties
(307) 634-2222
Listed By:
Ben Rayl
(307) 286-0594
Added: Sep 8, 2025
Changed: Aug 19
Last Checked: Sep 2 at 3:06PM
MLS# 98424
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 5,002-square-foot medical office building at 3116 Acacia Dr. was constructed in 1962 with brick exterior walls and a membrane roof. The 0.14-acre property is fully leased and occupied by Elevate Animal Care, a veterinary clinic.
The property is located in Cheyenne, Wyoming, within Laramie County, and carries a 82001 ZIP code. Its existing medical-office configuration and established veterinary-clinic occupancy provide a clearly defined current use. The building, fixtures, and land are included.
The property is located in Cheyenne, Wyoming, within Laramie County, and carries a 82001 ZIP code. Its existing medical-office configuration and established veterinary-clinic occupancy provide a clearly defined current use. The building, fixtures, and land are included.
Key Highlights
- 5,002‑square‑foot medical office building
- Fully leased to Elevate Animal Care, a veterinary clinic
- 0.14‑acre property at 3116 Acacia Dr., Cheyenne, WY 82001
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
$25,517
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
5.87%
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%
$510,340
$510.3K
Cap Rate 7%
$364,529
$364.5K
Cap Rate 9%
$283,522
$283.5K
Market Conditions
NOI Build-Up for 5,002 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
$40.2K $8.04/SF
− Vacancy
−$6.2K −$1.24/SF
EGI
$34.0K $6.80/SF
− OpEx
−$8.5K −$1.70/SF
NOI
$25.5K $5.10/SF
Area
Laramie County, WY
Vacancy
15.40%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
25.00%
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%
$510,340
Cap Rate 7%
$364,529
Cap Rate 9%
$283,522
Alternative Uses
Best Use
Healthcare Medical
$617.4K
$540.2K – $720.3K
NOI $43,217 @ 7.0% cap · market cap 9.93%
Second Best
Office B
$364.5K
$319.0K – $425.3K
NOI $25,517 @ 7.0% cap · market cap 5.87%
Theoretical Best
Retail
$819.7K
$717.2K – $956.3K
NOI $57,376 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cheyenne Pet Clinic — 3740 E Lincolnway, Cheyenne, WY 82001
Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick medical-office building occupied by a veterinary clinic tenant.
Where is this medical office space located?
The property is located at 3116 ACACIA DR Cheyenne, WY.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 5,002‑square‑foot medical office building; Fully leased to Elevate Animal Care, a veterinary clinic; 0.14‑acre property at 3116 Acacia Dr., Cheyenne, WY 82001
