Turnkey Automotive Office and
For Sale
$690,000
Pending
601 E Lincolnway, Cheyenne, WY 82001
Updated exterior and interior with separate office, shop, and garage entrances plus an upstairs one-bedroom apartment.
Property Size3,572 SF
Days on Market205
Property Features for 601 E Lincolnway
General Information
Standard status
Pending
Size
3,572 SF
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,335
Listing Agency:
Real Wyo Real Estate
(307) 436-8000
Listed By:
Jason West · License #RE13531
(307) 757-7921
Source:
Exprealty
Added: Mar 31
Changed: Oct 16
Last Checked: Oct 20 at 11:36PM
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 Real Wyo Real Estate
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Investment Insights
Based on property information with market context.
Turnkey downtown commercial property with recent upgrades including new exterior paint, new carpet, new sheetrock, renovated bathrooms, new windows, and a new patio door. The layout includes separate entrances for the office, shop, and garage, supporting multiple operating areas within one building.
The property is located at 601 E Lincolnway in Cheyenne, on Lincolnway/16th Street and Maxwell Avenue, and it offers two separate addresses. An upstairs one-bedroom apartment includes a large patio accessed from the new patio door.
The existing configuration combines office space with automotive-oriented shop and garage areas, along with the additional residential apartment above, allowing flexibility for a single business or combined uses under one roof.
The property is located at 601 E Lincolnway in Cheyenne, on Lincolnway/16th Street and Maxwell Avenue, and it offers two separate addresses. An upstairs one-bedroom apartment includes a large patio accessed from the new patio door.
The existing configuration combines office space with automotive-oriented shop and garage areas, along with the additional residential apartment above, allowing flexibility for a single business or combined uses under one roof.
Key Highlights
- Downtown Cheyenne commercial property with updated exterior and interior finishes
- New windows and exterior paint, plus new carpet and new sheetrock
- New bathrooms and a new patio door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,973
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,460
$819.5K
Cap Rate 7%
$585,329
$585.3K
Cap Rate 9%
$455,256
$455.3K
Market Conditions
NOI Build-Up for 3,572 SF
Gross rent
$66.4K $18.60/SF
− Vacancy
−$7.9K −$2.21/SF
EGI
$58.5K $16.39/SF
− OpEx
−$17.6K −$4.92/SF
NOI
$41.0K $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 Rate 5%
$819,460
Cap Rate 7%
$585,329
Cap Rate 9%
$455,256
Alternative Uses
Best Use
Retail
$585.3K
$512.2K – $682.9K
NOI $40,973 @ 7.0% cap · market cap 5.94%
Second Best
Industrial
$289.8K
$253.6K – $338.2K
NOI $20,289 @ 7.0% cap · market cap 2.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,059
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 82001, WY
37,528
Population
17,977
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
95%
High-School Grad
55.1 sq mi
ZIP Area
681
Density / Sq Mi
$74,149
Median Household Income
$45,456
Median Earnings
$1,044
Median Rent
$291,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Cheyenne Collison Center — 713 Deming Dr, Cheyenne, WY 82007
- 307 Mechanical — 929 Capitol Ave, Cheyenne, WY 82007
- Mars 4X4 Performance — 212 E 9th St, Cheyenne, WY 82007
- Caliber Collision — 821 W Lincolnway, Cheyenne, WY 82001
- Machine Shop — 711 russell ave, cheyenne, wy 82007
Frequently Asked Questions
What type of property is this?
Auto shop - Updated exterior and interior with separate office, shop, and garage entrances plus an upstairs one-bedroom apartment.
Where is this auto shop located?
The property is located at 601 E Lincolnway Cheyenne, WY.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Downtown Cheyenne commercial property with updated exterior and interior finishes; New windows and exterior paint, plus new carpet and new sheetrock; New bathrooms and a new patio door
