Listing Agency: LPT Realty w***@lptrealty.com

Listed By: Nathaniel Steinhoff · License #12926 Show Phone

Source: Exprealty

Added: Oct 27, 2025 Changed: Oct 25 Last Checked: Oct 30 at 7:56PM

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Investment Insights

Based on property information with market context.

Located at the corner of SW Wyoming Blvd and West Yellowstone Hwy, this commercial property benefits from high visibility with over 15,000 vehicles passing daily. The property includes nearly 23,000 square feet of total building space, featuring over 16,000 square feet of warehouse/shop area. A secure fenced yard and ample off-street parking are included. The location provides quick access to Casper/Natrona County International Airport and Interstate 25, facilitating regional and national connectivity. The property is suitable for investors seeking rental income or owner-occupants with specific needs. Neighboring parcels are available for purchase, allowing for the creation of a tailored commercial campus. Formerly used as a truck dealership, the property has existing offices, a showroom, a parts room, and shop spaces. Natrona County saw $377.8 million in visitor spending in 2024, supporting over 3,400 jobs. The property is near Casper Mountain, offering hiking, skiing, and views, as well as access to the North Platte River and lakes like Alcova and Pathfinder.

Key Highlights

• High‑visibility location at a busy intersection with over 15,000 vehicles per day.
• Large building with nearly 23,000 sq ft of total space, including over 16,000 sq ft of warehouse/shop area.
• Strategic location with quick access to the airport, Interstate 25, and the business bypass.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,625

Cap Rate

9.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,612,500 $2.6M

Cap Rate 7%

$1,866,071 $1.9M

Cap Rate 9%

$1,451,389 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 23,000 SF

Gross rent

$160.1K $6.96/SF

− Vacancy

−$6.4K −$0.28/SF

EGI

$153.7K $6.68/SF

− OpEx

−$23.1K −$1.00/SF

NOI

$130.6K $5.68/SF

Area

Natrona County, WY

Vacancy

4.00%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,612,500

Cap Rate 7%

$1,866,071

Cap Rate 9%

$1,451,389

Alternative Uses

Best Use

Retail

$2.92M

$2.56M – $3.41M (±1% cap)

NOI $204,406 @ 7.0% cap · market cap 14.29%

Second Best

Warehouse

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,625 @ 7.0% cap · market cap 9.13%

Theoretical Best

Office A

$5.14M

$4.49M – $5.99M (±1% cap)

NOI $359,462 @ 7.0% cap · market cap 25.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Showrooms

Suggested Use

Top Pick Dental Office Real Estate Agency Pharmacy Garden Center Law Firm Carpet & Flooring 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

333

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 82604, WY

26,539

Population

11,589

Households

2.3

Avg Household Size

39

Median Age

27%

College-Educated

93%

High-School Grad

1,048.4 sq mi

ZIP Area

25

Density / Sq Mi

$75,683

Median Household Income

$41,825

Median Earnings

$1,090

Median Rent

$270,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - High-visibility commercial property with warehouse space and ample parking.

Where is this warehouse located?

The property is located at 4113 W Yellowstone Hwy Mills, WY.

What is the asking price?

The asking price for this property is $1,430,000.

What are key features of this property?

This property features: High‑visibility location at a busy intersection with over 15,000 vehicles per day.; Large building with nearly 23,000 sq ft of total space, including over 16,000 sq ft of warehouse/shop area.; Strategic location with quick access to the airport, Interstate 25, and the business bypass.