Two-Story Mixed-Use
For Sale
$5,685,000
4620 GRANDVIEW AVE, Cheyenne, WY 82009
Commercial/Industrial, Cheyenne, WY
Property Size31,047 SF
Lot Size0.99 Acres
Price / SF$183.11
Days on Market265
Property Features for 4620 GRANDVIEW AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Fixtures, Land
Subdivision
LARAMIE
Standard status
Active
Size
31,047 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE NORTH 348' OF LOT 1, BLOCK 1
Tax Annual Amount
21300
Legal Description
THE NORTH 348' OF LOT 1, BLOCK 1
Building Details
Year built
1985
Roof type
Membrane
Listing Agency:
Century 21 Bell Real Estate · Century 21 Real Estate
(307) 635-0336
Listed By:
Linda Weppner · License #WYOMING-299
(307) 630-0955
Added: Dec 11, 2025
Changed: Aug 19
Last Checked: Sep 2 at 11:06AM
MLS# 99307
Copyright © 2026 Cheyenne 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.
This two-story mixed-use property contains 31,047 square feet on a 0.99-acre site. The 1985-built building is arranged with multiple suites, open-plan areas, large windows, and a storefront-style exterior. Existing leased spaces include a restaurant, dental office, and childcare center. A membrane roof is in place.
The property includes on-site parking, straightforward ingress and egress, and prominent signage areas. Its commercial zoning supports the current multi-tenant configuration, with layouts that accommodate distinct business operations within the building.
The property includes on-site parking, straightforward ingress and egress, and prominent signage areas. Its commercial zoning supports the current multi-tenant configuration, with layouts that accommodate distinct business operations within the building.
Key Highlights
- 31,047‑square‑foot mixed‑use building on 0.99 acres
- Two‑story building constructed in 1985
- Multiple suites with open‑plan areas and large windows
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
$268,246
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
4.72%
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%
$5,364,920
$5.4M
Cap Rate 7%
$3,832,086
$3.8M
Cap Rate 9%
$2,980,511
$3.0M
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
$558.8K $18.00/SF
− Vacancy
−$111.8K −$3.60/SF
EGI
$447.1K $14.40/SF
− OpEx
−$178.8K −$5.76/SF
NOI
$268.2K $8.64/SF
Area
Laramie County, WY
Vacancy
20.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$5,364,920
Cap Rate 7%
$3,832,086
Cap Rate 9%
$2,980,511
Alternative Uses
Best Use
Healthcare Medical
$3.83M
$3.35M – $4.47M
NOI $268,246 @ 7.0% cap · market cap 4.72%
Second Best
Mixed Use
$3.11M
$2.72M – $3.63M
NOI $217,717 @ 7.0% cap · market cap 3.83%
Theoretical Best
Retail
$5.09M
$4.45M – $5.94M
NOI $356,128 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 Office 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 - Commercial zoning supports a multi-suite building with restaurant, dental, and childcare occupants.
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 mixed‑use building on 0.99 acres; Two‑story building constructed in 1985; Multiple suites with open‑plan areas and large windows
