Convenience Store with Walk-In
For Sale
Contact for pricing
4603 W Yellowstone Hwy, Mills, WY 82604
Convenience store built in 1979 featuring a 10x10 walk-in cooler and additional back-of-store storage shed.
Property Size2,428 SF
Lot Size0.44 Acres
Price / SF$308.90
Days on Market390
Property Features for 4603 W Yellowstone Hwy
General Information
Standard status
Active
Size
2,428 SF
Lot size
0.44 Acres
Property subtype
RETAIL
Building Details
Year Built
1979
Listing Agency:
BRC Real Estate Corporation
Listed By:
Jason Keith · License #EA.100065249
(303) 495-2212
Source:
Moodyscre
Added: Aug 20, 2025
Changed: Sep 8
Last Checked: Sep 13 at 9:45AM
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 BRC Real Estate Corporation
Investment Insights
Based on property information with market context.
Convenience store opportunity in Mills, Wyoming featuring a 10x10 walk-in cooler and a shed for additional storage at the back of the store. The building is 2,428 SF and was built in 1979, with a site area of 0.44 AC / 19,031 SF.
The property includes an existing canopy. The previous branding (Loaf N’ Jug) suggests flexibility for a new owner to rebrand and renovate the convenience store, with the option to add tanks with the existing canopy or repurpose the building.
For buyers considering expansion or consolidation, there is also the possibility to acquire an adjacent 0.35-acre property still owned by Loaf N’ Jug, subject to separate acquisition terms. Contact for more information.
The property includes an existing canopy. The previous branding (Loaf N’ Jug) suggests flexibility for a new owner to rebrand and renovate the convenience store, with the option to add tanks with the existing canopy or repurpose the building.
For buyers considering expansion or consolidation, there is also the possibility to acquire an adjacent 0.35-acre property still owned by Loaf N’ Jug, subject to separate acquisition terms. Contact for more information.
Key Highlights
- 2,428 SF convenience store built in 1979
- 0.44 AC / 19,031 SF land area
- 10x10 walk‑in cooler in the store
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
$33,076
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
4.41%
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%
$661,520
$661.5K
Cap Rate 7%
$472,514
$472.5K
Cap Rate 9%
$367,511
$367.5K
Market Conditions
NOI Build-Up for 2,428 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
$46.0K $18.96/SF
− Vacancy
−$1.9K −$0.80/SF
EGI
$44.1K $18.16/SF
− OpEx
−$11.0K −$4.54/SF
NOI
$33.1K $13.62/SF
Area
Natrona County, WY
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$661,520
Cap Rate 7%
$472,514
Cap Rate 9%
$367,511
Alternative Uses
Best Use
Specialty Retail
$472.5K
$413.5K – $551.3K
NOI $33,076 @ 7.0% cap · market cap 4.41%
Second Best
Retail
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$542.1K
$474.3K – $632.5K
NOI $37,947 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
33k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Maverik Adventures First Stop
Shops & Services
20,669 visits/mo
0.1 miles
Dollar General
Shops & Services
6,458 visits/mo
0.1 miles
Family Dollar
Shops & Services
3,761 visits/mo
0.2 miles
First Interstate Bank
Shops & Services
2,281 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Convenience store built in 1979 featuring a 10x10 walk-in cooler and additional back-of-store storage shed.
Where is this grocery and convenience store located?
The property is located at 4603 W Yellowstone Hwy Mills, WY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,428 SF convenience store built in 1979; 0.44 AC / 19,031 SF land area; 10x10 walk‑in cooler in the store
