Building Details

Year built 2019

Building materials Brick, Steel

Roof type Metal

Listing Agency: #1 Properties l***@cheyennehomes.com Show Phone

Listed By: Natacha Gaspar · License #20220379 Show Phone

Added: May 19 Changed: Aug 19 Last Checked: Aug 29 at 5:06PM

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MLS# 100929

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 restaurant property provides 2,400 square feet of operational space within a commercial building constructed in 2019. The sale includes commercial kitchen equipment, fryers, a hood system, tables, chairs, point-of-sale equipment, and additional fixtures. Brick and steel construction, along with a metal roof, complete the building improvements.

The property occupies 0.39 acres at 515 W 5th St in Pine Bluffs, Wyoming, with ample paved parking. Its existing front-of-house and kitchen components support continued restaurant, café, or food-service use without the need to assemble core equipment separately.

Key Highlights

• 2,400‑square‑foot restaurant building constructed in 2019
• 0.39‑acre property at 515 W 5th St, Pine Bluffs, WY 82082
• Commercial kitchen includes fryers and a hood system

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

$13,632

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

2.81%

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%

$272,640 $272.6K

Cap Rate 7%

$194,743 $194.7K

Cap Rate 9%

$151,467 $151.5K

Market Conditions

NOI Build-Up for 2,400 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

$24.2K $10.08/SF

− Vacancy

−$4.7K −$1.97/SF

EGI

$19.5K $8.11/SF

− OpEx

−$5.8K −$2.43/SF

NOI

$13.6K $5.68/SF

Area

Laramie County, WY

Vacancy

19.50%

Lease Rate

$10.08 /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%

$272,640

Cap Rate 7%

$194,743

Cap Rate 9%

$151,467

Alternative Uses

Best Use

Industrial

$194.7K

$170.4K – $227.2K (±1% cap)

NOI $13,632 @ 7.0% cap · market cap 2.81%

Second Best

Specialty Retail

$87.0K

$76.2K – $101.6K (±1% cap)

NOI $6,093 @ 7.0% cap · market cap 1.26%

Theoretical Best

Retail

$393.3K

$344.1K – $458.8K (±1% cap)

NOI $27,529 @ 7.0% cap · market cap 5.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

150

Businesses Nearby

20k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 76% Dining 24%

Sinclair Shops & Services

7,571 visits/mo 0.2 miles

SUBWAY Dining

4,795 visits/mo 0.2 miles

Exxon Shops & Services

3,589 visits/mo 0.2 miles

Dollar General Shops & Services

2,848 visits/mo 0.1 miles

Napa Auto Parts Shops & Services

1,471 visits/mo 0.2 miles

Demographics for 82082, WY

1,764

Population

751

Households

2.3

Avg Household Size

42

Median Age

23%

College-Educated

95%

High-School Grad

320.0 sq mi

ZIP Area

6

Density / Sq Mi

$66,388

Median Household Income

$42,972

Median Earnings

$725

Median Rent

$316,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Includes commercial kitchen equipment, dining furniture, fixtures, and point-of-sale equipment.

Where is this conventional restaurant located?

The property is located at 515 W 5TH ST Pine Bluffs, WY.

What is the asking price?

The asking price for this property is $485,000.

What are key features of this property?

This property features: 2,400‑square‑foot restaurant building constructed in 2019; 0.39‑acre property at 515 W 5th St, Pine Bluffs, WY 82082; Commercial kitchen includes fryers and a hood system