Showroom with Walk-In
For Sale
$950,000
Pending
5709 YELLOWSTONE RD, Cheyenne, WY 82009
Commercial/Industrial, Cheyenne, WY
Property Size3,136 SF
Lot Size0.33 Acres
Days on Market56
Property Features for 5709 YELLOWSTONE RD
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Building, Fixtures, Land
Subdivision
LARAMIE
Standard status
Pending
Size
3,136 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
STOREY ACRES: SOUTH 125' TRACT 10, DESC AS: BEG AT
Tax Annual Amount
1847
Legal Description
STOREY ACRES: SOUTH 125' TRACT 10, DESC AS: BEG AT
Building Details
Year built
1994
Roof type
Metal
Listing Agency:
#1 Properties
(307) 634-2222
Listed By:
Bonnie Berry · License #5051
(307) 630-5444
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 30 at 8:06PM
MLS# 101424
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 3,136-square-foot showroom property, built in 1994, combines a large display area with an office, dry storage room, prep area, and walk-in chiller room. The building has a metal roof and is offered with the building, fixtures, and land.
A large parking lot serves the property, with two curb cuts connecting to the streets for customer ingress and egress. Surrounding commercial businesses include McDonald's, a gas station, restaurants, a grocery store, fast-food establishments, a bank, a liquor store, and a bar.
A large parking lot serves the property, with two curb cuts connecting to the streets for customer ingress and egress. Surrounding commercial businesses include McDonald's, a gas station, restaurants, a grocery store, fast-food establishments, a bank, a liquor store, and a bar.
Key Highlights
- 3,136‑square‑foot showroom building constructed in 1994
- Large showroom with office, dry storage, prep area, and walk‑in chiller room
- 0.33‑acre parcel included with the building and fixtures
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
$35,972
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
3.79%
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%
$719,440
$719.4K
Cap Rate 7%
$513,886
$513.9K
Cap Rate 9%
$399,689
$399.7K
Market Conditions
NOI Build-Up for 3,136 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
$58.3K $18.60/SF
− Vacancy
−$6.9K −$2.21/SF
EGI
$51.4K $16.39/SF
− OpEx
−$15.4K −$4.92/SF
NOI
$36.0K $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%
$719,440
Cap Rate 7%
$513,886
Cap Rate 9%
$399,689
Alternative Uses
Best Use
Retail
$513.9K
$449.7K – $599.5K
NOI $35,972 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
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
Paved road access
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Showroom - Commercial building with showroom, office, storage, prep, and refrigeration areas, plus customer parking and two street curb cuts.
Where is this showroom located?
The property is located at 5709 YELLOWSTONE RD Cheyenne, WY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,136‑square‑foot showroom building constructed in 1994; Large showroom with office, dry storage, prep area, and walk‑in chiller room; 0.33‑acre parcel included with the building and fixtures
