Mixed-Use Property with Fitness
For Sale
$4,200,000
5201 Douglas S, Gillette, WY 82718
Two distinct commercial sections combine bar and retail functions with a fully equipped fitness center.
Property Size19,743 SF
Lot Size2.55 Acres
Price / SF$212.73
Days on Market204
Property Features for 5201 Douglas S
General Information
Standard status
Active
Size
19,743 SF
Lot size
2.55 Acres
Property subtype
Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Amenities
outdoor patio with canopy and gas lines for fire pits and heaters
Building Details
Year Built
2003
Listing Agency:
RE/MAX Professionals
(307) 682-6622
Listed By:
Ryan Conklin · License #3480
Source:
Campbellcountyhomeguide
Added: Feb 5
Changed: Aug 28
Last Checked: Aug 28 at 12:19PM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
This 19,743-square-foot mixed-use property contains two substantial commercial sections. A 9,030-square-foot area is configured for a packaged-liquor retail operation and bar, with built-in coolers, retail fixtures, updated flooring, and bar space. The property also includes the Axe House and Cigar Bar. The remaining 10,713 square feet comprise a fitness center with hot yoga, spinning, group exercise, cardio and fitness areas, locker rooms, and laundry hookups.
Building systems include fire suppression, tankless water heaters, and roof-mounted natural gas HVAC. Outdoor amenities include a patio with an 800-square-foot canopy and gas lines for fire pits and heaters. The 2.55-acre site provides more than 47,000 square feet of asphalt for parking and drive lanes. Access is available from Highway 59, Garner Lake Road, and S. Butler Spaeth Road, with the property positioned at the intersection of Highway 59 and Garner Lake Road.
Building systems include fire suppression, tankless water heaters, and roof-mounted natural gas HVAC. Outdoor amenities include a patio with an 800-square-foot canopy and gas lines for fire pits and heaters. The 2.55-acre site provides more than 47,000 square feet of asphalt for parking and drive lanes. Access is available from Highway 59, Garner Lake Road, and S. Butler Spaeth Road, with the property positioned at the intersection of Highway 59 and Garner Lake Road.
Key Highlights
- 19,743 SF mixed‑use property divided between retail/bar space and a fitness center
- 9,030‑square‑foot retail and bar section with built‑in coolers and updated flooring
- 10,713‑square‑foot fitness center with hot yoga, spinning, group fitness, and locker rooms
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
$242,640
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
5.78%
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%
$4,852,800
$4.9M
Cap Rate 7%
$3,466,286
$3.5M
Cap Rate 9%
$2,696,000
$2.7M
Market Conditions
NOI Build-Up for 19,743 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
$367.2K $18.60/SF
− Vacancy
−$43.7K −$2.21/SF
EGI
$323.5K $16.39/SF
− OpEx
−$80.9K −$4.10/SF
NOI
$242.6K $12.29/SF
Area
Campbell County, WY
Vacancy
11.90%
Lease Rate
$18.60 /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%
$4,852,800
Cap Rate 7%
$3,466,286
Cap Rate 9%
$2,696,000
Alternative Uses
Best Use
Specialty Retail
$3.47M
$3.03M – $4.04M
NOI $242,640 @ 7.0% cap · market cap 5.78%
Second Best
Retail
$3.24M
$2.83M – $3.77M
NOI $226,464 @ 7.0% cap · market cap 5.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
378
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Coffee Beanery
Dining
378 visits/mo
0.0 miles
Demographics for 82718, WY
25,764
Population
10,228
Households
2.5
Avg Household Size
34
Median Age
27%
College-Educated
92%
High-School Grad
1,596.8 sq mi
ZIP Area
16
Density / Sq Mi
$104,454
Median Household Income
$51,047
Median Earnings
$1,042
Median Rent
$289,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two distinct commercial sections combine bar and retail functions with a fully equipped fitness center.
Where is this mixed-use property located?
The property is located at 5201 Douglas S Gillette, WY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 19,743 SF mixed‑use property divided between retail/bar space and a fitness center; 9,030‑square‑foot retail and bar section with built‑in coolers and updated flooring; 10,713‑square‑foot fitness center with hot yoga, spinning, group fitness, and locker rooms
