Leased Office Building with Conference
For Sale
$800,000
813 E Lincolnway, Cheyenne, WY 82001
Two-level office space includes bright offices and a conference room, currently under a 5-year lease.
Property Size6,000 SF
Price / SF$133.33
Days on Market179
Property Features for 813 E Lincolnway
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Additional Details
Cap Rate
7%
Road Access
Yes
Sprinkler System
Yes
Amenities
conference room
fiber optics internet service
Building Details
Year Built
1952
Stories
2
Tenancy
Single
Listing Agency:
#1 Properties
Listed By:
Jim Weaver · License #10624
(307) 630-5161
Source:
Cheyennehomesource
Added: May 1
Changed: Oct 25
Last Checked: Oct 24 at 5:54PM
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 #1 Properties
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Investment Insights
Based on property information with market context.
This leased office building is configured with bright, large offices and a conference room. The layout is split across two levels, with 3,000 on the upper floor and 3,000 on the lower level. Fire sprinklers are located on the lower level, and dual exits are in place to support occupancy. Fiber optics internet service is also provided.
The property is located at 813 E Lincolnway in Cheyenne, Wyoming. A 5-year lease is currently in place with a Class A tenant, and the offering is presented as performing at a 7.0% CAP.
The property is located at 813 E Lincolnway in Cheyenne, Wyoming. A 5-year lease is currently in place with a Class A tenant, and the offering is presented as performing at a 7.0% CAP.
Key Highlights
- Currently under a 5‑year lease with a Class A tenant
- Property has a 7.0% CAP performance
- Two‑level office space with bright, large offices plus a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,840
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,036,800
$1.0M
Cap Rate 7%
$740,571
$740.6K
Cap Rate 9%
$576,000
$576.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$108.0K $18.00/SF
− Vacancy
−$21.6K −$3.60/SF
EGI
$86.4K $14.40/SF
− OpEx
−$34.6K −$5.76/SF
NOI
$51.8K $8.64/SF
Area
Laramie County, WY
Vacancy
20.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,036,800
Cap Rate 7%
$740,571
Cap Rate 9%
$576,000
Alternative Uses
Best Use
Healthcare Medical
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 6.48%
Second Best
Office B
$437.3K
$382.6K – $510.1K
NOI $30,608 @ 7.0% cap · market cap 3.83%
Theoretical Best
Retail
$983.2K
$860.3K – $1.15M
NOI $68,824 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,050
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Office building - Two-level office space includes bright offices and a conference room, currently under a 5-year lease.
Where is this office building located?
The property is located at 813 E Lincolnway Cheyenne, WY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Currently under a 5‑year lease with a Class A tenant; Property has a 7.0% CAP performance; Two‑level office space with bright, large offices plus a conference room
