Building Details

Year built 1920

Building materials Block

Roof type Membrane

Listing Agency: #1 Properties l***@cheyennehomes.com Show Phone

Listed By: Natacha Gaspar · License #20220379 Show Phone

Added: Sep 30 Changed: Oct 4 Last Checked: Oct 5 at 4:06PM

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MLS# 102275

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 2,625-square-foot medical office property has a layout that includes three treatment rooms, a private office, a kitchen, and a large gym and therapy area. A separate space at the front could accommodate additional office or treatment rooms or be leased independently. The building was constructed in 1920, has block construction, and offers accessible entry. The property is currently used as a physical therapy clinic; the sale covers the real estate only, not the business, equipment, or inventory.

Set on 0.16 acres at 322 Main St in Pine Bluffs, the property is near Kimball Health Clinic.

Key Highlights

• 2,625‑square‑foot medical office building
• Three treatment rooms, a private office, kitchen, and gym/therapy area
• Separate front space offers room for additional office or treatment use, or independent leasing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,680

Cap Rate

7.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$453,600 $453.6K

Cap Rate 7%

$324,000 $324.0K

Cap Rate 9%

$252,000 $252.0K

Market Conditions

NOI Build-Up for 2,625 SF

Gross rent

$47.3K $18.00/SF

− Vacancy

−$9.5K −$3.60/SF

EGI

$37.8K $14.40/SF

− OpEx

−$15.1K −$5.76/SF

NOI

$22.7K $8.64/SF

Area

Laramie County, WY

Vacancy

20.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$453,600

Cap Rate 7%

$324,000

Cap Rate 9%

$252,000

Alternative Uses

Best Use

Healthcare Medical

$324.0K

$283.5K – $378.0K (±1% cap)

NOI $22,680 @ 7.0% cap · market cap 7.59%

Second Best

Office B

$191.3K

$167.4K – $223.2K (±1% cap)

NOI $13,391 @ 7.0% cap · market cap 4.48%

Theoretical Best

Retail

$430.1K

$376.4K – $501.8K (±1% cap)

NOI $30,110 @ 7.0% cap · market cap 10.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Brookside Physical Therapy Physician Wilson Douglas K Medical Clinic Barnhart Amanda Medical Clinic Kimzey Collar & Pipe ... Factory

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Auto Parts Store Carpet & Flooring Store Storage Facility (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

163

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 82082, WY

1,764

Population

751

Households

2.3

Avg Household Size

42

Median Age

23%

College-Educated

95%

High-School Grad

320.0 sq mi

ZIP Area

6

Density / Sq Mi

$66,388

Median Household Income

$42,972

Median Earnings

$725

Median Rent

$316,300

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The interior has three treatment rooms, a private office, a kitchen, and a large gym area.

Where is this medical office space located?

The property is located at 322 MAIN ST Pine Bluffs, WY.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: 2,625‑square‑foot medical office building; Three treatment rooms, a private office, kitchen, and gym/therapy area; Separate front space offers room for additional office or treatment use, or independent leasing