For Sale
$1,099,000
600 Central Ave, Cheyenne, WY 82007
Apartment buildings
Property Size5,328 SF
Lot Size0.29 Acres
Price / SF$206.27
Days on Market253
Property Features for 600 Central Ave
General Information
Standard status
Active
Size
5,328 SF
Lot size
0.29 Acres
Property subtype
Commercial
Building Details
Year Built
1937
Listing Agency:
Coldwell Banker, The Property Exchange
Listed By:
Colton Carlson · License #RE-15580
(307) 630-1759
Source:
Cheyennehomesource
Added: Feb 2
Changed: Oct 1
Last Checked: Oct 12 at 7:55PM
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 Coldwell Banker, The Property Exchange
Investment Insights
Based on property information with market context.
Key Highlights
- Renovated 17‑unit property offering a turnkey investment opportunity.
- Ideal location near the highway and downtown Cheyenne.
- Potential for lucrative short‑term rentals.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,847
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$976,940
$976.9K
Cap Rate 7%
$697,814
$697.8K
Cap Rate 9%
$542,744
$542.7K
Market Conditions
NOI Build-Up for 5,328 SF
Gross rent
$92.7K $17.40/SF
− Vacancy
−$3.9K −$0.73/SF
EGI
$88.8K $16.67/SF
− OpEx
−$40.0K −$7.50/SF
NOI
$48.8K $9.17/SF
Area
Laramie County, WY
Vacancy
4.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$976,940
Cap Rate 7%
$697,814
Cap Rate 9%
$542,744
Alternative Uses
Best Use
Apartment 5plus
$697.8K
$610.6K – $814.1K
NOI $48,847 @ 7.0% cap · market cap 4.44%
Second Best
Hotel Hospitality
$406.7K
$355.9K – $474.5K
NOI $28,472 @ 7.0% cap · market cap 2.59%
Theoretical Best
Retail
$873.1K
$763.9K – $1.02M
NOI $61,115 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Explore this area
Business Placement
Demographics for 82007, WY
21,249
Population
9,542
Households
2.2
Avg Household Size
35
Median Age
16%
College-Educated
89%
High-School Grad
193.8 sq mi
ZIP Area
110
Density / Sq Mi
$55,461
Median Household Income
$35,537
Median Earnings
$1,120
Median Rent
$218,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
Where is this apartment building located?
The property is located at 600 Central Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Renovated 17‑unit property offering a turnkey investment opportunity.; Ideal location near the highway and downtown Cheyenne.; Potential for lucrative short‑term rentals.
