Highway-Front Commercial Land with
46000 U.S Highway 20 Casper, WY 82630
For Sale
$369,000
MULTI_FAMILY - Casper, WY
Property Size3,123 SF
Lot Size94.00 Acres
Price / SF$118.16
Days on Market375
Property Features for 46000 U.S Highway 20
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Laundry Room, Bedroom 2, Bathroom 1
Parking features
Driveway
Interior features
Walk-In Closet(s), Entrance Foyer, Master Downstairs
Fencing
Fenced
Fireplace
1
Standard status
Active
APN
36861920001200
Size
3,123 SF
Lot size
94.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1212
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating), Zoned, Electric (Heating), Forced Air, Natural Gas
Water source
Well
Building Details
Year built
1923
Flooring type
Carpet, Laminate
Building materials
Wood Siding
Roof type
Asphalt
Additional Structures
Greenhouse
Listing Agency:
Cowboy State Property Group
(307) 309-1313
Listed By:
Zachary Taylor
(307) 309-1313
Added: Jul 19, 2025
Changed: Jul 16
Last Checked: Jul 28 at 5:06AM
MLS# 11877688
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
An approximately 94-acre contiguous property with Highway 20/26 frontage in Casper, Wyoming, featuring split zoning: 40 acres designated commercial zoning and 54 acres designated RAM zoning. A 1923 general store and farmhouse (3,123 SF) remains on-site, with portions already remodeled and livable while development plans move forward.
On-site infrastructure is already in place, including power, three wells, a septic system, an 80,000-gallon irrigation reservoir, and a 1,000-gallon propane tank. The RAM zoning portion is described as having no HOA and no covenants.
The offering is presented as a combined development and hospitality/retail opportunity with commercial zoning and an off-grid style use framework under the RAM zoning. Seller financing is also noted as available.
On-site infrastructure is already in place, including power, three wells, a septic system, an 80,000-gallon irrigation reservoir, and a 1,000-gallon propane tank. The RAM zoning portion is described as having no HOA and no covenants.
The offering is presented as a combined development and hospitality/retail opportunity with commercial zoning and an off-grid style use framework under the RAM zoning. Seller financing is also noted as available.
Key Highlights
- 94 contiguous acres with nearly half‑mile frontage on Highway 20/26
- Dual zoning: 40 acres commercial and 54 acres RAM zoning
- Original store and farmhouse built in 1923 (3,123 sqft) with parts already remodeled and livable
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.1k | $13.80 |
| − Vacancy | −$3.4k | −$1.10 |
| EGI | $39.6k | $12.70 |
| − OpEx | −$11.9k | −$3.81 |
| NOI | $27.8k | $8.89 |
3,123 SF · lease $13.80/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$607.8K
$531.8K – $709.1K
NOI $42,544 @ 7.0% cap · market cap 11.53%
Second Best
Retail
$396.5K
$346.9K – $462.6K
NOI $27,755 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$697.3K
$610.1K – $813.5K
NOI $48,809 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial land - 94-acre parcel with Highway 20/26 frontage, split commercial and RAM zoning, and a 1923 3,123 SF structure on-site.
Where is this commercial land located?
The property is located at 46000 U.S Highway 20 Casper, WY.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 94 contiguous acres with nearly half‑mile frontage on Highway 20/26; Dual zoning: 40 acres commercial and 54 acres RAM zoning; Original store and farmhouse built in 1923 (3,123 sqft) with parts already remodeled and livable
