Office and Shop Flex
For Sale
Contact for pricing
431 N MCKINLEY ST, Casper, WY 82601
A zoned M-1 light industrial building with both office front space and rear shop area plus an adjacent lot.
Property Size3,200 SF
Price / SF$134.06
Days on Market105
Property Features for 431 N MCKINLEY ST
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
3
Property subtype
Industrial, Mixed Use
Zoning
M-1
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1973
Buildings
1
Stories
1
Units
1
Listing Agency:
Vertical Realty Group
Listed By:
Steven Freel · License #WY RE-14148
(307) 259-1276
Source:
Crexi
Added: Jun 29
Changed: Sep 30
Last Checked: Oct 11 at 2:58AM
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 Vertical Realty Group
Investment Insights
Based on property information with market context.
This versatile commercial property includes a front portion designed as professional office space and a rear shop area intended to support a wider range of light commercial or trade-based operations. An additional 10.50-acre lot sits directly south of the main building, and the adjacent parcel also includes a secondary 1,600-square-foot building, expanding options for storage, workspace, or other separate uses.
The property is zoned M-1 Light Industrial and is positioned for convenient access to Interstate 25, supporting efficient connectivity for transportation, logistics, and day-to-day business operations.
With office space for administrative or client-facing needs alongside a shop configuration suited for service and light industrial activity, this setup can work well for owner-users who need both functions under one roof. It also offers practical flexibility for buyers evaluating a site with additional land and a secondary building for separate staging, storage, or future expansion planning.
The property is zoned M-1 Light Industrial and is positioned for convenient access to Interstate 25, supporting efficient connectivity for transportation, logistics, and day-to-day business operations.
With office space for administrative or client-facing needs alongside a shop configuration suited for service and light industrial activity, this setup can work well for owner-users who need both functions under one roof. It also offers practical flexibility for buyers evaluating a site with additional land and a secondary building for separate staging, storage, or future expansion planning.
Key Highlights
- 2,600 SF commercial building built in 1973 with office front space and rear shop area
- Zoned M‑1 Light Industrial for a variety of commercial and industrial uses
- Additional 0.50‑acre lot directly south of the main building for expansion or extra yard/storage needs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,496
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,920
$709.9K
Cap Rate 7%
$507,086
$507.1K
Cap Rate 9%
$394,400
$394.4K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$55.7K $17.40/SF
− Vacancy
−$8.4K −$2.61/SF
EGI
$47.3K $14.79/SF
− OpEx
−$11.8K −$3.70/SF
NOI
$35.5K $11.09/SF
Area
Natrona County, WY
Vacancy
15.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,920
Cap Rate 7%
$507,086
Cap Rate 9%
$394,400
Alternative Uses
Best Use
Office B
$507.1K
$443.7K – $591.6K
NOI $35,496 @ 7.0% cap · market cap 8.27%
Second Best
Flex RnD
$262.5K
$229.7K – $306.3K
NOI $18,378 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$714.5K
$625.2K – $833.5K
NOI $50,012 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 82601, WY
27,180
Population
12,967
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
93%
High-School Grad
478.8 sq mi
ZIP Area
57
Density / Sq Mi
$68,526
Median Household Income
$40,658
Median Earnings
$856
Median Rent
$244,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
- Essence of Life Catering — 1343 S Washington St, Casper, WY 82601
Frequently Asked Questions
What type of property is this?
Flex space - A zoned M-1 light industrial building with both office front space and rear shop area plus an adjacent lot.
Where is this flex space located?
The property is located at 431 N MCKINLEY ST Casper, 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: 2,600 SF commercial building built in 1973 with office front space and rear shop area; Zoned M‑1 Light Industrial for a variety of commercial and industrial uses; Additional 0.50‑acre lot directly south of the main building for expansion or extra yard/storage needs
