Two-Story Mixed-Use
For Sale
$5,685,000
4620 Grandview Ave, Cheyenne, WY 82009
Multi-suite commercial property with restaurant, dental, and childcare tenants, plus storefront windows and on-site parking.
Property Size31,047 SF
Price / SF$183.11
Days on Market324
Property Features for 4620 Grandview Ave
General Information
Standard status
Active
Size
31,047 SF
Property subtype
Commercial
Zoning
commercial
Additional Details
Road Access
Yes
Building Details
Year Built
1985
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Century 21 Bell Real Estate
(307) 630-0955
Listed By:
Linda Weppner
Source:
Cheyennehomesource
Added: Oct 10, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:26AM
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 Century 21 Bell Real Estate
Investment Insights
Based on property information with market context.
Built in 1985, this 31,047-square-foot, two-story mixed-use building provides multiple suites, open floor plans, large windows, and a storefront-oriented layout. Existing leased spaces include a restaurant, dental office, and childcare center, creating a varied commercial occupancy profile within the property.
The site includes parking, straightforward ingress and egress, and prominent signage opportunities. Commercial zoning supports the property’s existing mixed-use configuration, while the suite layout accommodates a range of business formats. The building is located at 4620 Grandview Ave in Cheyenne, Wyoming.
The site includes parking, straightforward ingress and egress, and prominent signage opportunities. Commercial zoning supports the property’s existing mixed-use configuration, while the suite layout accommodates a range of business formats. The building is located at 4620 Grandview Ave in Cheyenne, Wyoming.
Key Highlights
- 31,047‑square‑foot, two‑story mixed‑use building
- Built in 1985
- Leased spaces include a restaurant, dental office, and childcare center
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
$356,128
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
6.26%
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%
$7,122,560
$7.1M
Cap Rate 7%
$5,087,543
$5.1M
Cap Rate 9%
$3,956,978
$4.0M
Market Conditions
NOI Build-Up for 31,047 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
$577.5K $18.60/SF
− Vacancy
−$68.7K −$2.21/SF
EGI
$508.8K $16.39/SF
− OpEx
−$152.6K −$4.92/SF
NOI
$356.1K $11.47/SF
Area
Laramie County, WY
Vacancy
11.90%
Lease Rate
$18.60 /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%
$7,122,560
Cap Rate 7%
$5,087,543
Cap Rate 9%
$3,956,978
Alternative Uses
Best Use
Retail
$5.09M
$4.45M – $5.94M
NOI $356,128 @ 7.0% cap · market cap 6.26%
Second Best
Mixed Use
$3.11M
$2.72M – $3.63M
NOI $217,717 @ 7.0% cap · market cap 3.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Multi-suite commercial property with restaurant, dental, and childcare tenants, plus storefront windows and on-site parking.
Where is this mixed-use property located?
The property is located at 4620 Grandview Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $5,685,000.
What are key features of this property?
This property features: 31,047‑square‑foot, two‑story mixed‑use building; Built in 1985; Leased spaces include a restaurant, dental office, and childcare center
