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    28050 Turkey Track Rd Casper, WY 82604

    Sponsored
    For Sale
    $1,175,000

    80± Acres, Stunning Views, Historic Ranch

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Own a piece of Wyoming history with this exceptional 80± acre ranch nestled near Alcova, WY. Conveniently located 75 miles south of Casper off Highway 220, this property offers unparalleled access to both serene rural living and exciting outdoor adventures. The heart of the ranch is a spacious 5,599 square foot family home, boasting 5 bedrooms and 2.75 bathrooms, perfect for large gatherings. For guests or potential rental income, a 1,500 square foot bunkhouse duplex with 2 bathrooms and lofts provides ample accommodation. A substantial 1,500 square foot shop and a 750 square foot attached garage offer extensive storage for equipment and vehicles. Peace of mind is ensured with a whole-home Generac 22kw generator, guaranteeing uninterrupted power. This unique property is situated directly on the historic Oregon and Pony Express Trails, offering a captivating connection to the American West's pioneering past. Hunting and fishing enthusiasts will appreciate the abundant wildlife and proximity to Alcova and Pathfinder Reservoirs, as well as the Sweetwater and North Platte Rivers. Nearby landmarks such as Independence Rock, Split Rock, and Martin's Cove add to the historical and natural appeal. This remarkable property presents a rare opportunity to acquire a blend of modern comfort and rich historical significance in the heart of Wyoming's breathtaking landscape. The asking price is $1,175,000.

    Property Features for 28050 Turkey Track Rd

    General Information

    Property type
    Farms
    Lot Size
    3,484,800 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Casper
    County
    Natrona
    State
    Wyoming
    Longitude
    -107.3668689
    Latitude
    42.462382

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    FAQs

    What type of property is this?
    Farm - 80± Acres, Stunning Views, Historic Ranch
    Where is this farm located?
    The property is located at 28050 Turkey Track Rd Casper, WY.
    What is the asking price?
    The asking price for this property is $1,175,000.
    Request Owner's contact information
    28050 Turkey Track Rd Casper, WY 82604
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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.

    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
    28050 Turkey Track Rd Casper, WY 82604
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