Freestanding Office Building with Detached
For Sale
$399,000
805 S Douglas Hwy, Gillette, WY 82716
COMMERCIAL - Gillette, WY
Property Size3,050 SF
Lot Size0.58 Acres
Price / SF$130.82
Days on Market516
Property Features for 805 S Douglas Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Appliances
Refrigerator
Directions
Off Hwy 59
Subdivision
Northside Area - Gillette
Standard status
Active
Size
3,050 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Annual Amount
1870
Building Details
Year built
1961
Listing Agency:
ERA Priority Real Estate · ERA Real Estate
(307) 686-9200
Listed By:
Jamie Pedersen · License #12874
(307) 680-1239
Added: Mar 17, 2025
Changed: Aug 1
Last Checked: Aug 14 at 6:06AM
MLS# 25-1909
Copyright © 2026 Northeast Wyoming REALTORS. 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.
Freestanding office building on a C-1 zoned corner lot in Gillette, WY. The existing home is 3,050 square feet and is positioned for office or retail use. The foundation wall needs repaired, but the property is described as livable. Appliances include a refrigerator, and the home includes three bathrooms.
The property sits on Hwy 59 with front, side and alley access. The lot is listed at 0.58 acres and includes a detached 26x32 garage. Neighboring uses mentioned include Dollar General, Lasting Legacy Park, and Pizza Carrello, along with nearby shopping centers.
Built in 1961, this site offers a practical footprint for a business that can adapt the existing building and garage layout to its operations.
The property sits on Hwy 59 with front, side and alley access. The lot is listed at 0.58 acres and includes a detached 26x32 garage. Neighboring uses mentioned include Dollar General, Lasting Legacy Park, and Pizza Carrello, along with nearby shopping centers.
Built in 1961, this site offers a practical footprint for a business that can adapt the existing building and garage layout to its operations.
Key Highlights
- 3,050 SF office building designed for office or retail use
- Foundation wall needs repaired; described as livable
- 0.58‑acre corner lot with front, side and alley access
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
$34,985
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
8.77%
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%
$699,700
$699.7K
Cap Rate 7%
$499,786
$499.8K
Cap Rate 9%
$388,722
$388.7K
Market Conditions
NOI Build-Up for 3,050 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
$56.7K $18.60/SF
− Vacancy
−$6.8K −$2.21/SF
EGI
$50.0K $16.39/SF
− OpEx
−$15.0K −$4.92/SF
NOI
$35.0K $11.47/SF
Area
Campbell 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%
$699,700
Cap Rate 7%
$499,786
Cap Rate 9%
$388,722
Alternative Uses
Best Use
Retail
$499.8K
$437.3K – $583.1K
NOI $34,985 @ 7.0% cap · market cap 8.77%
Second Best
Office B
$426.5K
$373.2K – $497.5K
NOI $29,852 @ 7.0% cap · market cap 7.48%
Theoretical Best
Specialty Retail
$535.5K
$468.6K – $624.7K
NOI $37,484 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 82716, WY
17,094
Population
7,771
Households
2.2
Avg Household Size
36
Median Age
16%
College-Educated
93%
High-School Grad
1,182.7 sq mi
ZIP Area
14
Density / Sq Mi
$77,169
Median Household Income
$45,276
Median Earnings
$890
Median Rent
$234,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C-1 zoned office building on a corner lot with front, side and alley access, plus a detached 26x32 garage.
Where is this office building located?
The property is located at 805 S Douglas Hwy Gillette, WY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,050 SF office building designed for office or retail use; Foundation wall needs repaired; described as livable; 0.58‑acre corner lot with front, side and alley access
