Flex Property with Airpark
3666 AVIATOR CT Cheyenne, WY 82009
3666 AVIATOR CT, Cheyenne, WY, 82009
$940,000
For Sale
$940,000
MULTI_FAMILY - Cheyenne, WY
Property Size7,000 SF
Lot Size1.37 Acres
Price / SF$134.29
Days on Market324
Property Features for 3666 AVIATOR CT
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4
- Exterior features
- Storage
- Appliances
- Range/Oven, Refrigerator
- Standard status
- Active
- Size
- 7,000 SF
- Lot size
- 1.37 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 2901
Utilities
- Heating system
- Central
- Water source
- Private
Building Details
- Year built
- 2023
- Number of units
- 4
- Building materials
- Frame
- Roof type
- Metal
- Additional Structures
- Storage
Listing Agency
RE/MAX Capitol Properties
(307) 635-0303
4000 Central Ave., Cheyenne, WY
Listed by
Steven Prescott
(307) 630-9342
Added: Aug 29, 2025 Checked: Jul 18 at 6:06 pm
MLS# 98344
Listing URL
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.
Built in 2023, this flex-style property offers multiple uses under one roof. The building includes two 1,200-square-foot apartment units, each with its own entrance. Each unit features two bedrooms and one bathroom, along with a living room and kitchen.
The site is directly located on a 4,000-foot grass air strip at Skyview Airpark. In addition to the residential units, there is a heated and insulated 40x50 shop space and a 50x40 hangar with a 40x12 bi-fold power hangar door.
The combination of separate entrances, workshop space, and dedicated hangar access supports flexible occupancy and operating scenarios on a single parcel totaling 1.37 acres.
The site is directly located on a 4,000-foot grass air strip at Skyview Airpark. In addition to the residential units, there is a heated and insulated 40x50 shop space and a 50x40 hangar with a 40x12 bi-fold power hangar door.
The combination of separate entrances, workshop space, and dedicated hangar access supports flexible occupancy and operating scenarios on a single parcel totaling 1.37 acres.
Key Highlights
- Built in 2023 with frame construction and a metal roof
- Two separate‑entry 1,200 SF apartment units (2 bed, 1 bath each) with living room and kitchen
- 40' x 50' shop space that is heated and insulated
Local Financial Insights For Multifamily LT 5
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 | $107.5k | $15.36 |
| − Vacancy | −$5.9k | −$0.84 |
| EGI | $101.6k | $14.52 |
| − OpEx | −$30.5k | −$4.35 |
| NOI | $71.1k | $10.16 |
7,000 SF · lease $15.36/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$916.8K
$802.2K – $1.07M
NOI $64,176 @ 7.0% cap · market cap 6.83%
Theoretical Best
Retail
$1.15M
$1.00M – $1.34M
NOI $80,294 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Milliron TJ Construction
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Built in 2023, the property includes two separate 2-bedroom units plus heated shop and hangar space.
Where is this flex space located?
The property is located at 3666 AVIATOR CT Cheyenne, WY.
What is the asking price?
The asking price for this property is $940,000.
What are key features of this property?
This property features: Built in 2023 with frame construction and a metal roof; Two separate‑entry 1,200 SF apartment units (2 bed, 1 bath each) with living room and kitchen; 40' x 50' shop space that is heated and insulated
