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    3102 Frk Hwy Wapiti, WY 82450

    Sponsored
    For Sale
    $3,500,000

    371-Acre Wyoming Ranch, Turnkey Operation

    Property size:
    3,312 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional 371-acre Wyoming ranch, located in Wapiti near Yellowstone National Park, presents a unique investment opportunity. The property boasts 171 deeded acres and leases on an additional 200 acres of BLM and state land, providing access to thousands of acres within the Greater Yellowstone Ecosystem. Improvements include two spacious six-bedroom log homes, each exuding Western charm and offering stunning views. A grand log lodge features a commercial kitchen, a large great room, and two guest suites, perfect for corporate retreats or large gatherings. Adding to the property's historical significance is a charming one-bedroom cabin dating back to 1910. Ranching and recreational facilities include a rodeo arena, tack house, and a classic barn. All furnishings are included in the sale, making this a truly turnkey operation. The property features extensive internal roads and fencing, ensuring easy navigation. Water resources are abundant, encompassing two natural springs, rights to the North Fork irrigation ditch, a 50-gallon-per-minute well, and Rand Creek traversing the land. Built in 1983, the main structures offer a combined 3,312 square feet of living space. This property is offered at $3,500,000. A separate listing offering a smaller parcel with improvements is also available. This is a rare chance to acquire a significant piece of Wyoming's rich history and natural beauty. The property is located at 3102 North Fork Hwy, Wapiti, WY 82450.

    Property Features for 3102 Frk Hwy

    General Information

    Property type
    Farms
    Square Feet
    3,312 SF

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    John Parsons
    John Parsons

    Learn more

    HighLights

    • Exceptional 371‑acre Wyoming ranch near Yellowstone National Park, priced at $3,500,000.
    • Includes 171 deeded acres plus 200 acres under lease, providing extensive access to the Greater Yellowstone Ecosystem.
    • Features two six‑bedroom log homes, a commercial‑kitchen log lodge with guest suites, and a historic one‑bedroom cabin.
    • Offers extensive ranch and recreational facilities including a rodeo arena, tack house, and barn; all furnishings included.
    • Boasts abundant water resources: two springs, irrigation ditch rights, a high‑capacity well, and creek access.
    • Main structures total 3,312 square feet and were built in 1983.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Wapiti
    County
    Park
    State
    Wyoming
    Longitude
    -109.3496971
    Latitude
    44.4828305

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    FAQs

    What type of property is this?
    Farm - 371-Acre Wyoming Ranch, Turnkey Operation
    Where is this farm located?
    The property is located at 3102 Frk Hwy Wapiti, WY.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Exceptional 371-acre Wyoming ranch near Yellowstone National Park, priced at $3,500,000.; Includes 171 deeded acres plus 200 acres under lease, providing extensive access to the Greater Yellowstone Ecosystem.; Features two six-bedroom log homes, a commercial-kitchen log lodge with guest suites, and a historic one-bedroom cabin.
    Request Owner's contact information
    3102 Frk Hwy Wapiti, WY 82450
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3102 Frk Hwy Wapiti, WY 82450
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    We can help!
    Listing Contact
    John Parsons
    John Parsons
    Real Estate License ID: WY
    Learn more
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