Commercial Shop with Office Space

2201 Mitchell Ave Gillette, WY 82718

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Large commercial shop with office space near Hwy 59.

Type:Special Purpose
Property size:
7,536 SF
Price / SF:
$179/SF
Added:
Feb 3, 2024
Days on Market:
890
Last Refresh:
May 13 at 8:21 pm

Property Features for 2201 Mitchell Ave

General Information

Standard status
Active
Size
7,536 SF
Property subtype
Special Purpose

Listing office CENTURY 21 Real Estate Associates Gillette

Listing date Feb 3, 2024

Source Crexi

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 CENTURY 21 Real Estate Associates Gillette


Investment Insights

Based on property information with market context.

This commercial property features a large shop with integrated office space, situated one block from Highway 59 and offering access to Interstate 90. The shop area spans 4500 square feet and includes three 12' x 14' overhead doors equipped with electric openers, as well as two metal passage doors. It is equipped with a bathroom, 240V electrical service, and four large gas shop heaters. The office component provides 3036 square feet of space, incorporating a break area, a spacious open entry, two private offices, and a large open area that leads into the shop. The property is secured with fencing and has two access points, one from Mitchell Avenue and the other from Country Club Road.

Key Highlights

  • Prime Location: Just one block off Hwy 59 with easy access to I‑90
  • Substantial Shop Space: 4500 sq/ft shop with 3 large overhead doors, 240V power, and gas heaters
  • Dedicated Office Space: 3036 sq/ft office area with break area, open entry, and private offices

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $113.0k $15.00
− Vacancy −$14.7k −$1.95
EGI $98.3k $13.05
− OpEx −$24.6k −$3.26
NOI $73.8k $9.79
7,536 SF · lease $15.00/SF/yr · vacancy 13.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$1.05M
$922.0K – $1.23M (±1% cap)
NOI $73,759 @ 7.0% cap · market cap 5.46%
Second Best
Warehouse
$780.4K
$682.8K – $910.4K (±1% cap)
NOI $54,625 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M (±1% cap)
NOI $92,617 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Line Finders, LLC General Contractor Williston Fire & Safety ... General Contractor

Suggested Use

Law Firm HVAC Service Grocery & Convenience Store Plumbing Service Dental Office Barber Shop (Bike/Boat/Book/etc) Store Carpet & Flooring Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store

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

Similar Off Market Nearby

  • BOXED by Christine — 502 East Lakeway Road, Gillette, WY 82716

FAQs

What type of property is this?
Flex space - Large commercial shop with office space near Hwy 59.
Where is this flex space located?
The property is located at 2201 Mitchell Ave Gillette, WY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime Location: Just one block off Hwy 59 with easy access to I‑90; Substantial Shop Space: 4500 sq/ft shop with 3 large overhead doors, 240V power, and gas heaters; Dedicated Office Space: 3036 sq/ft office area with break area, open entry, and private offices
Contact an agent
(307) 687-0440 Call to check price and availability
More about this property
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