Retail Space with Operator
For Sale
Contact for pricing
1614 House Ave, Cheyenne, WY 82001
Retail space includes BASH, Inc. assets and comes with owner training for a new operator after closing.
Property Size4,150 SF
Price / SF$174.70
Days on Market492
Property Features for 1614 House Ave
General Information
Standard status
Active
Size
4,150 SF
Property subtype
RETAIL
Additional Details
Business Included
Yes
Listing Agency:
Coldwell Banker Commercial | The Property Exchange
(307) 531-9636
Listed By:
Chuck West · License #12852
(307) 531-9636
Source:
Moodyscre
Added: Apr 28, 2025
Changed: Aug 19
Last Checked: Aug 31 at 2:29AM
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 Coldwell Banker Commercial | The Property Exchange
Investment Insights
Based on property information with market context.
This retail space includes all of the assets of BASH, INC., with an equipment list available in Associated Docs. The owner will carry financing with 50% down, interest only at 6% for 3 years, and will spend one month training the new operator after closing.
The property is located at 1614 House Ave, Cheyenne, WY 82001. For income performance context, the projection and results cited include a cap rate of 6.84%.
The offering is structured around both the included business assets and the post-closing training and financing terms described, supporting continuity for an incoming operator.
The property is located at 1614 House Ave, Cheyenne, WY 82001. For income performance context, the projection and results cited include a cap rate of 6.84%.
The offering is structured around both the included business assets and the post-closing training and financing terms described, supporting continuity for an incoming operator.
Key Highlights
- Includes all assets of BASH, INC. with an equipment list in Associated Docs
- Owner will carry financing with 50% down, interest only at 6% for 3 years
- One month of owner training for the new operator after closing
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
$47,603
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
6.57%
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%
$952,060
$952.1K
Cap Rate 7%
$680,043
$680.0K
Cap Rate 9%
$528,922
$528.9K
Market Conditions
NOI Build-Up for 4,150 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
$77.2K $18.60/SF
− Vacancy
−$9.2K −$2.21/SF
EGI
$68.0K $16.39/SF
− OpEx
−$20.4K −$4.92/SF
NOI
$47.6K $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 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%
$952,060
Cap Rate 7%
$680,043
Cap Rate 9%
$528,922
Alternative Uses
Best Use
Retail
$680.0K
$595.0K – $793.4K
NOI $47,603 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,298
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space includes BASH, Inc. assets and comes with owner training for a new operator after closing.
Where is this retail space located?
The property is located at 1614 House Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Includes all assets of BASH, INC. with an equipment list in Associated Docs; Owner will carry financing with 50% down, interest only at 6% for 3 years; One month of owner training for the new operator after closing
