922 E 3rd St E, Gillette, WY 82716

Building Details

Building Size 10,442 SF More

Year Built 1959 More

Listing Agency: Century 21 - Real Estate Associates p***@vcn.com Show Phone

Listed By: Renee Breen Show Phone

Source: Gillettepropertysearch

Added: Nov 8 Last Checked: Nov 9 at 5:42AM

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Investment Insights

Based on property information with market context.

The Mustang Motel is a 31-unit hospitality property in Gillette, Wyoming, with 10,442 square feet of building area. Constructed in 1959, it has received exterior and access-system improvements during the past 12–24 months, including new siding, roofing, gutters, and downspouts across the buildings, along with electronic RFID key-card entry at the doors.

The property is zoned C-1 and is located at 922 E 3rd St E. Its improvements combine building-envelope work with updated electronic access.

Key Highlights

• 31‑unit motel with 10,442 square feet of building area
• New siding, roofs, gutters, and downspouts on all buildings
• Electronic RFID key‑card system on all doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,471

Cap Rate

8.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,309,420 $1.3M

Cap Rate 7%

$935,300 $935.3K

Cap Rate 9%

$727,456 $727.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,442 SF

Gross rent

$156.6K $15.00/SF

− Vacancy

−$18.8K −$1.80/SF

EGI

$137.8K $13.20/SF

− OpEx

−$72.4K −$6.93/SF

NOI

$65.5K $6.27/SF

Area

Campbell County, WY

Vacancy

12.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,309,420

Cap Rate 7%

$935,300

Cap Rate 9%

$727,456

Alternative Uses

Best Use

Hotel Hospitality

$935.3K

$818.4K – $1.09M (±1% cap)

NOI $65,471 @ 7.0% cap · market cap 8.31%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,332 @ 7.0% cap · market cap 16.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mustang Motel Hotel & Motel

Suggested Use

Top Pick Dental Office Pharmacy Storage Facility Auto Parts Store Parking Lot & Garage Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

440

Businesses Nearby

Well-served

Demand for This Use

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

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Similar Off Market Nearby

• Anchor Motel — 700 E 3rd St, Gillette, WY 82716
• Horse Palace Gaming & OTB – Gillette — 1020 E. Hwy. #14-16 Inside Sundance Lounge / Nat. 9 Inn, Gillette, WY 82716
• Howard Johnson by Wyndham Gillette — 1004 US-14 #16, Gillette, WY 82716
• National 9 Inn - Gillette WY — 1020 E HWY #14-16, Gillette, WY 82716
• Quality Inn — 409 Butler-Spaeth Rd, Gillette, WY 82716

Frequently Asked Questions

What type of property is this?

Motel - Recent exterior work and electronic key-card entry update the property’s building envelope and access system.

Where is this motel located?

The property is located at 922 E 3rd St E Gillette, WY.

What is the asking price?

The asking price for this property is $788,000.

What are key features of this property?

This property features: 31‑unit motel with 10,442 square feet of building area; New siding, roofs, gutters, and downspouts on all buildings; Electronic RFID key‑card system on all doors