Mixed-Use Property with
For Sale
$1,100,000
370 Hwy 50, Gillette, WY 82718
Versatile acreage combines a ranch home, workshop, retail/storage area, and landscaped outdoor amenities.
Property Size4,224 SF
Lot Size2.98 Acres
Price / SF$260.42
Days on Market401
Property Features for 370 Hwy 50
General Information
Standard status
Active
Size
4,224 SF
Lot size
2.98 Acres
Property subtype
Commercial
Additional Details
Voltage
220 V
Amenities
pond
waterfall
gazebo
Building Details
Year Built
1982
Listing Agency:
ERA Priority Real Estate
(307) 686-9200
Listed By:
Stephanie Bryce · License #20210608165706353587000000
Source:
Campbellcountyhomeguide
Added: Jul 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:13PM
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 ERA Priority Real Estate
Investment Insights
Based on property information with market context.
Set on 2.98 acres, this mixed-use property includes a ranch-style residence built in 1982 with 3 bedrooms, 2 bathrooms, two kitchens, substantial storage, and a 2-car attached garage. The fully equipped basement provides additional living flexibility, with potential for two more bedrooms or a larger family room. The property also includes a 2,888-square-foot shop with 220 power, plus a 364-square-foot shed. Separate retail and storage space totals 1,568 square feet and includes a 28×28 garage. Landscaping, a pond with waterfall, and a gazebo add outdoor improvements. The property could be rezoned residential, subject to applicable approvals. Located at 370 Hwy 50 in Gillette, Wyoming.
Key Highlights
- 2.98‑acre mixed‑use property at 370 Hwy 50, Gillette, WY 82718
- Ranch‑style home with 3 bedrooms, 2 bathrooms, and two kitchens
- 2,888 sq ft shop with 220 power plus a 364 sq ft shed
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
$34,214
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
3.11%
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%
$684,280
$684.3K
Cap Rate 7%
$488,771
$488.8K
Cap Rate 9%
$380,156
$380.2K
Market Conditions
NOI Build-Up for 4,224 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
$60.8K $14.40/SF
− Vacancy
−$6.1K −$1.44/SF
EGI
$54.7K $12.96/SF
− OpEx
−$20.5K −$4.86/SF
NOI
$34.2K $8.10/SF
Area
Campbell County, WY
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$684,280
Cap Rate 7%
$488,771
Cap Rate 9%
$380,156
Alternative Uses
Best Use
Mixed Use
$488.8K
$427.7K – $570.2K
NOI $34,214 @ 7.0% cap · market cap 3.11%
Second Best
Industrial
$360.2K
$315.2K – $420.3K
NOI $25,215 @ 7.0% cap · market cap 2.29%
Theoretical Best
Specialty Retail
$741.6K
$648.9K – $865.2K
NOI $51,913 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 82718, WY
25,764
Population
10,228
Households
2.5
Avg Household Size
34
Median Age
27%
College-Educated
92%
High-School Grad
1,596.8 sq mi
ZIP Area
16
Density / Sq Mi
$104,454
Median Household Income
$51,047
Median Earnings
$1,042
Median Rent
$289,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile acreage combines a ranch home, workshop, retail/storage area, and landscaped outdoor amenities.
Where is this mixed-use property located?
The property is located at 370 Hwy 50 Gillette, WY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2.98‑acre mixed‑use property at 370 Hwy 50, Gillette, WY 82718; Ranch‑style home with 3 bedrooms, 2 bathrooms, and two kitchens; 2,888 sq ft shop with 220 power plus a 364 sq ft shed
