Storage Condo with Oversized
For Sale
$199,000
4500 Haunted Rd Unit A3, Cheyenne, WY 82001
Private storage ownership with gated access, surveillance cameras, and partial clubhouse ownership.
Property Size900 SF
Price / SF$221.11
Days on Market75
Property Features for 4500 Haunted Rd Unit A3
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Amenities
clubhouse
secure gates and camera system
Building Details
Year Built
2021
Listing Agency:
Keller Williams Realty Frontier
(307) 399-1961
Listed By:
Shawn Miller
Source:
Cheyennehomesource
Added: Jun 19
Changed: Aug 31
Last Checked: Aug 31 at 5:36PM
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 Keller Williams Realty Frontier
Investment Insights
Based on property information with market context.
Unit A-3 is a 900 SF storage condo at The Cubby Hole, offering a 20 X 45 ft footprint and a 14ft. door. Built in 2021, the space is suited to storing recreational vehicles, vehicles, business equipment, tools, inventory, or household belongings. The enclosed format provides dedicated room for larger items and equipment.
The facility is located at 4500 Haunted Rd #A3 in Cheyenne, Wyoming. Access is supported by secure gates and a camera system throughout the property. The sale also includes partial ownership in the community clubhouse, which can be used for entertaining or meeting clients.
The facility is located at 4500 Haunted Rd #A3 in Cheyenne, Wyoming. Access is supported by secure gates and a camera system throughout the property. The sale also includes partial ownership in the community clubhouse, which can be used for entertaining or meeting clients.
Key Highlights
- 900 SF storage condo identified as Unit A‑3
- 20 X 45 ft unit with a 14ft. door
- Built in 2021
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
$6,208
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
3.12%
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%
$124,160
$124.2K
Cap Rate 7%
$88,686
$88.7K
Cap Rate 9%
$68,978
$69.0K
Market Conditions
NOI Build-Up for 900 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
$9.1K $10.08/SF
− Vacancy
−$1.8K −$1.97/SF
EGI
$7.3K $8.11/SF
− OpEx
−$1.1K −$1.22/SF
NOI
$6.2K $6.90/SF
Area
Laramie County, WY
Vacancy
19.50%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
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%
$124,160
Cap Rate 7%
$88,686
Cap Rate 9%
$68,978
Alternative Uses
Best Use
Warehouse
$88.7K
$77.6K – $103.5K
NOI $6,208 @ 7.0% cap · market cap 3.12%
Second Best
Self Storage
$87.5K
$76.6K – $102.1K
NOI $6,124 @ 7.0% cap · market cap 3.08%
Theoretical Best
Retail
$147.5K
$129.1K – $172.1K
NOI $10,324 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Private storage ownership with gated access, surveillance cameras, and partial clubhouse ownership.
Where is this self storage facility located?
The property is located at 4500 Haunted Rd Unit A3 Cheyenne, WY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 900 SF storage condo identified as Unit A‑3; 20 X 45 ft unit with a 14ft. door; Built in 2021
