Updated Two-Unit Flex
For Sale
$599,000
648 E F Street, Casper, WY 82601
Separate suites feature new plumbing, bathrooms, overhead heating, and upgraded electrical and structural systems.
Property Size4,080 SF
Price / SF$146.81
Days on Market157
Property Features for 648 E F Street
General Information
Standard status
Active
Size
4,080 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,946
Amenities
Forced Air
Building Details
Building Size
4,080 SF
Year Built
1973
Year Renovated
2023
Listing Agency:
Zest
Listed By:
CJ Lovato · License #12035
(307) 259-5958
Source:
Evrealestate
Added: May 8
Changed: Oct 8
Last Checked: Oct 11 at 6:35AM
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 Zest
Investment Insights
Based on property information with market context.
This flex space is configured as two separate units following a 2023 conversion. Each unit includes new plumbing and bathrooms, while gas and overhead heaters support year-round usability. The property also has new garage doors, insulated walls, interior steel, and a fully replaced electrical system.
Exterior work includes new steel siding and a steel roof completed in 2022. Concrete driveways and ample parking support day-to-day access for occupants and visitors. The property is located at 648 E F St in Casper, with access from I-25.
Exterior work includes new steel siding and a steel roof completed in 2022. Concrete driveways and ample parking support day-to-day access for occupants and visitors. The property is located at 648 E F St in Casper, with access from I-25.
Key Highlights
- Two separate units created through a 2023 conversion
- New plumbing and bathrooms in both units
- Complete electrical system, insulated walls, interior steel, and garage doors installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,431
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,620
$468.6K
Cap Rate 7%
$334,729
$334.7K
Cap Rate 9%
$260,344
$260.3K
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$38.7K $9.48/SF
− Vacancy
−$2.6K −$0.64/SF
EGI
$36.0K $8.84/SF
− OpEx
−$12.6K −$3.09/SF
NOI
$23.4K $5.74/SF
Area
Natrona County, WY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,620
Cap Rate 7%
$334,729
Cap Rate 9%
$260,344
Alternative Uses
Best Use
Flex RnD
$334.7K
$292.9K – $390.5K
NOI $23,431 @ 7.0% cap · market cap 3.91%
Second Best
Warehouse
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$910.9K
$797.1K – $1.06M
NOI $63,766 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,476
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 82601, WY
27,180
Population
12,967
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
93%
High-School Grad
478.8 sq mi
ZIP Area
57
Density / Sq Mi
$68,526
Median Household Income
$40,658
Median Earnings
$856
Median Rent
$244,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Separate suites feature new plumbing, bathrooms, overhead heating, and upgraded electrical and structural systems.
Where is this flex space located?
The property is located at 648 E F Street Casper, WY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two separate units created through a 2023 conversion; New plumbing and bathrooms in both units; Complete electrical system, insulated walls, interior steel, and garage doors installed in 2021
