Corner Bar and
For Sale
$750,000
822 Central Ave, Cheyenne, WY 82001
Established bar and lounge business with real estate, fixtures, furnishings, and a package liquor license subject to city approval.
Property Size3,448 SF
Price / SF$217.52
Days on Market144
Property Features for 822 Central Ave
General Information
Standard status
Active
Size
3,448 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Drive-Thru
Yes
Liquor License
Yes
Building Details
Year Built
1979
Buildings
1
Construction
precast concrete
Listing Agency:
#1 Properties
Listed By:
Jim Weaver · License #10624
(307) 630-5161
Source:
Cheyennehomesource
Added: May 24
Changed: Oct 1
Last Checked: Oct 12 at 8:04PM
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
Investment Insights
Based on property information with market context.
This offering combines a bar and lounge business with the underlying commercial property, fixtures, and furnishings. The precast concrete building was constructed in 1979 and includes a dedicated drive-through lane and on-site parking. A package liquor license is included, subject to approval by the City of Cheyenne. Inventory is excluded and will be sold separately.
The property occupies a corner lot of just over one-third of an acre within the Downtown Development District. It fronts a major traffic corridor carrying more than 20,000 vehicles daily, providing direct access and strong exposure. The business has operated for more than 90 years and has served as a neighborhood gathering place with pool tournaments and a longstanding local customer base.
The property occupies a corner lot of just over one-third of an acre within the Downtown Development District. It fronts a major traffic corridor carrying more than 20,000 vehicles daily, providing direct access and strong exposure. The business has operated for more than 90 years and has served as a neighborhood gathering place with pool tournaments and a longstanding local customer base.
Key Highlights
- Bar and lounge business offered with the underlying commercial real estate
- Package liquor license included, subject to approval by the City of Cheyenne
- 3,448‑square‑foot property; source remarks describe the building as 3,450 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,551
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,020
$791.0K
Cap Rate 7%
$565,014
$565.0K
Cap Rate 9%
$439,456
$439.5K
Market Conditions
NOI Build-Up for 3,448 SF
Gross rent
$64.1K $18.60/SF
− Vacancy
−$7.6K −$2.21/SF
EGI
$56.5K $16.39/SF
− OpEx
−$17.0K −$4.92/SF
NOI
$39.6K $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%
$791,020
Cap Rate 7%
$565,014
Cap Rate 9%
$439,456
Alternative Uses
Best Use
Retail
$565.0K
$494.4K – $659.2K
NOI $39,551 @ 7.0% cap · market cap 5.27%
Second Best
Specialty Retail
$125.1K
$109.4K – $145.9K
NOI $8,754 @ 7.0% cap · market cap 1.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,248
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Lamp Lounge — 101 W 6th St, Cheyenne, WY 82007
- Keg 'n Kork Liquors & Lounge — 822 Central Ave, Cheyenne, WY 82007
- Chronicles Distilling — 1506 Thomes Ave, Cheyenne, WY 82001
- Crown Bar — 222 W Lincolnway, Cheyenne, WY 82001
- Freedom's Edge Brewing Co. — 1509 Pioneer Ave, Cheyenne, WY 82001
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established bar and lounge business with real estate, fixtures, furnishings, and a package liquor license subject to city approval.
Where is this bar & pub located?
The property is located at 822 Central Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Bar and lounge business offered with the underlying commercial real estate; Package liquor license included, subject to approval by the City of Cheyenne; 3,448‑square‑foot property; source remarks describe the building as 3,450 square feet
