Multifamily Property with
For Sale
Contact for pricing
4202 Cheyenne St, Cheyenne, WY 82001
Three units in two buildings on a one-acre lot.
Property Size3,170 SF
Lot Size1.00 Acre
Price / SF$135.33
Days on Market163
Property Features for 4202 Cheyenne St
General Information
Standard status
Active
Size
3,170 SF
Lot size
1.00 Acre
Property subtype
Multifamily
Building Details
Year Built
1951
Buildings
2
Stories
1
Units
3
Listing Agency:
One West Real Estate
(307) 742-2099
Listed By:
Dave Clements · License #WY 10349
Source:
Crexi
Added: Mar 12
Changed: Aug 17
Last Checked: Aug 19 at 6:46PM
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 One West Real Estate
Investment Insights
Based on property information with market context.
This multifamily property features three units situated within two separate buildings. The property is located on a lot that is over one acre in size and contains a total of 3170 square feet of living space. This residential income property offers a unique investment opportunity.
Key Highlights
- Multifamily Property
- Features 3 Units
- Situated on a Large 1+ Acre Lot
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
$32,209
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
7.51%
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%
$644,180
$644.2K
Cap Rate 7%
$460,129
$460.1K
Cap Rate 9%
$357,878
$357.9K
Market Conditions
NOI Build-Up for 3,170 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
$48.7K $15.36/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$46.0K $14.52/SF
− OpEx
−$13.8K −$4.35/SF
NOI
$32.2K $10.16/SF
Area
Laramie County, WY
Vacancy
5.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$644,180
Cap Rate 7%
$460,129
Cap Rate 9%
$357,878
Alternative Uses
Best Use
Multifamily LT 5
$460.1K
$402.6K – $536.8K
NOI $32,209 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$415.2K
$363.3K – $484.4K
NOI $29,063 @ 7.0% cap · market cap 6.77%
Theoretical Best
Retail
$519.5K
$454.5K – $606.0K
NOI $36,362 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three units in two buildings on a one-acre lot.
Where is this triplex located?
The property is located at 4202 Cheyenne St Cheyenne, WY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Multifamily Property; Features 3 Units; Situated on a Large 1+ Acre Lot
