Commercial Land with Existing
For Sale
$399,000
805 S Douglas Hwy S, Gillette, WY 82716
Corner commercial parcel with an existing building suited for office or retail use, plus a detached garage and multiple access points.
Property Size3,050 SF
Price / SF$130.82
Days on Market656
Property Features for 805 S Douglas Hwy S
General Information
Standard status
Active
Size
3,050 SF
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
ERA Priority Real Estate
(307) 680-1239
Listed By:
Jamie Pedersen · License #12874
Source:
Campbellcountyhomeguide
Added: Nov 13, 2024
Changed: Aug 29
Last Checked: Aug 30 at 6:15PM
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 ERA Priority Real Estate
Investment Insights
Based on property information with market context.
This 0.60-acre commercial corner parcel includes a 3,050-square-foot existing building constructed in 1961. The structure is livable and can support office or retail use, although the foundation wall requires repair. A 26x32 detached garage adds supplementary space to the property.
The site fronts Hwy 59 and has front, side, and alley access. Nearby surroundings include Dollar General, Lasting Legacy Park, Pizza Carrello, and shopping centers, placing the property within an established commercial setting.
The site fronts Hwy 59 and has front, side, and alley access. Nearby surroundings include Dollar General, Lasting Legacy Park, Pizza Carrello, and shopping centers, placing the property within an established commercial setting.
Key Highlights
- 0.60‑acre commercial corner lot on Hwy 59
- 3,050‑square‑foot existing building constructed in 1961
- Building is livable; foundation wall requires repair
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
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial parcel with an existing building suited for office or retail use, plus a detached garage and multiple access points.
Where is this commercial land located?
The property is located at 805 S Douglas Hwy S 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: 0.60‑acre commercial corner lot on Hwy 59; 3,050‑square‑foot existing building constructed in 1961; Building is livable; foundation wall requires repair
