Retail and Warehouse with Dock-High
For Sale
$5,750,000
3501 E Lincolnway, Cheyenne, WY 82001
Two-unit building offers retail plus warehouse space, including dock-high doors, next to a shopping center with major retailers.
Property Size60,084 SF
Price / SF$95.70
Days on Market50
Property Features for 3501 E Lincolnway
General Information
Standard status
Active
Size
60,084 SF
Additional Details
Office Units
2
Building Details
Tenancy
Multi
Listing Agency:
Selling Homes Network
(307) 630-0396
Listed By:
Robert Phillips · License #725
(307) 630-0396
Source:
Exprealty
Added: Jun 17
Changed: Jul 10
Last Checked: Jul 31 at 5:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Selling Homes Network
Investment Insights
Based on property information with market context.
This property is a two-unit building totaling 60,084 square feet. One unit of approximately 25,000 square feet is currently occupied by a trampoline center. The second unit was formerly occupied by Big Lots and includes approximately 25,000 square feet of retail space and approximately 10,000 square feet of warehouse space. The warehouse component features dock-high doors.
The building is situated adjacent to the Cheyenne Plaza Shopping Center. The surrounding area includes major retailers such as Auto Zone, Sportsman’s Warehouse, and Murdoch’s.
As a result, the asset may fit a tenant or owner-operator seeking a combined retail and warehousing footprint in a shopping-center setting, particularly for operations that benefit from dock-high loading. For a well-qualified user, the owner may consider leasing the 35,000 square feet referenced in the offering materials.
The building is situated adjacent to the Cheyenne Plaza Shopping Center. The surrounding area includes major retailers such as Auto Zone, Sportsman’s Warehouse, and Murdoch’s.
As a result, the asset may fit a tenant or owner-operator seeking a combined retail and warehousing footprint in a shopping-center setting, particularly for operations that benefit from dock-high loading. For a well-qualified user, the owner may consider leasing the 35,000 square feet referenced in the offering materials.
Key Highlights
- Two‑unit building totaling approximately 50,000 sq ft: about 25,000 sq ft retail plus about 25,000 sq ft retail/warehouse space
- Dock‑high doors in the warehouse area—seldom found amenity in the Cheyenne market
- Second unit previously occupied by Big Lots includes approximately 25,000 sq ft retail and 10,000 sq ft warehouse
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 | $605.6k | $10.08 |
| − Vacancy | −$118.1k | −$1.97 |
| EGI | $487.5k | $8.11 |
| − OpEx | −$73.1k | −$1.22 |
| NOI | $414.4k | $6.90 |
60,084 SF · lease $10.08/SF/yr · vacancy 19.50% · expense 15.00%
Alternative Uses
Best Use
Retail
$9.85M
$8.62M – $11.49M
NOI $689,201 @ 7.0% cap · market cap 11.99%
Second Best
Warehouse
$5.92M
$5.18M – $6.91M
NOI $414,414 @ 7.0% cap · market cap 7.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
440
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ranch Eats — 3505 Cheyenne St unit b, Cheyenne, WY 82001
Frequently Asked Questions
What type of property is this?
Flex space - Two-unit building offers retail plus warehouse space, including dock-high doors, next to a shopping center with major retailers.
Where is this flex space located?
The property is located at 3501 E Lincolnway Cheyenne, WY.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Two‑unit building totaling approximately 50,000 sq ft: about 25,000 sq ft retail plus about 25,000 sq ft retail/warehouse space; Dock‑high doors in the warehouse area—seldom found amenity in the Cheyenne market; Second unit previously occupied by Big Lots includes approximately 25,000 sq ft retail and 10,000 sq ft warehouse
