Versatile Commercial Building For
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7383 West 6 W N Road, Casper, WY 82604
Well-maintained, climate-controlled building suitable for various uses.
Property Size10,752 SF
Price / SF$76.73
Days on Market1143
Property Features for 7383 West 6 W N Road
General Information
Standard status
Active
Size
10,752 SF
Total Parking Spaces
20
Property subtype
Industrial
Zoning
M2
Lease Type
NNN
Building Details
Year Built
1978
Buildings
1
Units
1
Listing Agency:
Mastery Real Estate
(720) 445-1121
Listed By:
Mike Hammond · License #WY RE 15834
Source:
Crexi
Added: Jul 14, 2023
Changed: Aug 16
Last Checked: Aug 29 at 12:08PM
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 Mastery Real Estate
Investment Insights
Based on property information with market context.
This well-maintained building offers a versatile space suitable for various uses. Constructed with pre-stressed concrete, the property features over 10,000 square feet of climate-controlled space. The layout includes office areas, meeting spaces, an entry area, executive office space, and large shop areas equipped with overhead doors. Multiple restrooms are available. The property could potentially be divided to accommodate multiple users. It is fully fenced and has ample power. The location is suitable for many different uses.
Key Highlights
- Over 10,000 sf of climate‑controlled space.
- Pre‑stressed concrete building construction.
- Ideal location suitable for many different uses.
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
$61,749
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
7.48%
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%
$1,234,980
$1.2M
Cap Rate 7%
$882,129
$882.1K
Cap Rate 9%
$686,100
$686.1K
Market Conditions
NOI Build-Up for 10,752 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
$101.9K $9.48/SF
− Vacancy
−$6.9K −$0.64/SF
EGI
$95.0K $8.84/SF
− OpEx
−$33.2K −$3.09/SF
NOI
$61.7K $5.74/SF
Area
Natrona County, WY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,234,980
Cap Rate 7%
$882,129
Cap Rate 9%
$686,100
Alternative Uses
Best Use
Flex RnD
$882.1K
$771.9K – $1.03M
NOI $61,749 @ 7.0% cap · market cap 7.48%
Second Best
Industrial
$677.7K
$593.0K – $790.7K
NOI $47,439 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,041 @ 7.0% cap · market cap 20.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 82604, WY
26,539
Population
11,589
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
1,048.4 sq mi
ZIP Area
25
Density / Sq Mi
$75,683
Median Household Income
$41,825
Median Earnings
$1,090
Median Rent
$270,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained, climate-controlled building suitable for various uses.
Where is this flex space located?
The property is located at 7383 West 6 W N Road Casper, WY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Over 10,000 sf of climate‑controlled space.; Pre‑stressed concrete building construction.; Ideal location suitable for many different uses.
