Flex Property with Hangar
3666 AVIATOR CT Cheyenne, WY 82009
3666 AVIATOR CT, Cheyenne, WY, 82009
$940,000
For Sale
$940,000
COMMERCIAL - Cheyenne, WY
Property Size7,000 SF
Lot Size1.37 Acres
Price / SF$134.29
Days on Market327
Property Features for 3666 AVIATOR CT
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Appliances
- Building, Fixtures, Land
- Standard status
- Active
- Size
- 7,000 SF
- Lot size
- 1.37 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lot 32
- Tax Annual Amount
- 2901
Building Details
- Year built
- 2023
- Building materials
- Steel
- Roof type
- Metal
Listing Agency
RE/MAX Capitol Properties
(307) 635-0303
4000 Central Ave., Cheyenne, WY
Listed by
Steven Prescott
(307) 630-9342
Added: Aug 26, 2025 Checked: Jul 18 at 6:06 pm
MLS# 98307
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 versatile property at 3666 Aviator Ct in Cheyenne offers multiple income and use options under one roof. The building includes two separate 1,200-square-foot apartment units, each with its own entrance, plus two bedrooms, one bathroom, a living room, and a kitchen. In addition to the residential components, there is a heated and insulated 40 by 50 shop space, designed for work, storage, or light industrial use. The aviation portion is supported by a 50 by 40 hangar space with a 40 by 12 bi-fold powered hangar door.
The property is directly located on the 4,000-foot grass air strip for Skyview Airpark, providing straightforward access between the hangar and the airfield. This configuration can support aviation-related operations and on-site logistics where aircraft and equipment may need to be kept on the premises.
For tenants, owners, or operators seeking flexibility, the mix of separate apartment entrances, a heated shop, and dedicated hangar space can accommodate a variety of live/work, rental, and aviation-adjacent arrangements. Because the units are configured separately and the shop and hangar are purpose-built, the layout is well suited to multi-use ownership or a combined residential and work/aviation program.
The property is directly located on the 4,000-foot grass air strip for Skyview Airpark, providing straightforward access between the hangar and the airfield. This configuration can support aviation-related operations and on-site logistics where aircraft and equipment may need to be kept on the premises.
For tenants, owners, or operators seeking flexibility, the mix of separate apartment entrances, a heated shop, and dedicated hangar space can accommodate a variety of live/work, rental, and aviation-adjacent arrangements. Because the units are configured separately and the shop and hangar are purpose-built, the layout is well suited to multi-use ownership or a combined residential and work/aviation program.
Key Highlights
- Building built in 2023 with steel construction and a metal roof
- Includes two separate 1,200 SF apartment units (each with 2 bedrooms, 1 bathroom, living room and kitchen)
- Heated and insulated 40' x 50' shop space
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 with a heated shop, duplex apartments, and a hangar featuring a powered bi-fold door.
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: Building built in 2023 with steel construction and a metal roof; Includes two separate 1,200 SF apartment units (each with 2 bedrooms, 1 bathroom, living room and kitchen); Heated and insulated 40' x 50' shop space
