Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Four-Unit Townhome Development Land Title is generated by Realmo AI

    L43-46 B33 OPEN RANGE RD, Cheyenne, WY 82007

    View on Map
    Claim this Listing
    For Sale
    $292,000

    LAND - Cheyenne, WY

    Lot size:
    0.30 Acres
    Added:
    Feb 8, 2023
    Days on Market:
    1213
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for L43-46 B33 OPEN RANGE RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Lots 43,44,45,46 B 33, Rocking A at Sweetgrass

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Larry Sutherland

    Listing agent Larry Sutherland License #845

    Listing office #1 Properties 6106 Yellowstone Rd, Cheyenne, WY

    Listing date Feb 8, 2023

    MLS# 88886 Listing URL

    Copyright © 2026 Cheyenne Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Public water source available.
    • 4‑unit townhome building offered as a connected property with individually priced lots at $73,000 each sold together.
    • Phase one lots are shovel ready; Phase 2, 3 & 4 are on a rolling construction schedule.
    • Sweetgrass is adjacent to LCCC and Cheyenne’s outer belt roadways for easy access.
    • Community features include a trails network and City Greenway space, with over $1M investment in trails.

    Overview

    Rocking A at Sweetgrass offers individually priced lots sold together as a connected property designed to support a four-unit townhome building. The project is guided by modern farmhouse design guidelines reflected in the associated documents, and Phase one lots are described as shovel ready, with Phase 2, 3, and 4 following on a rolling construction schedule.

    The property is positioned adjacent to LCCC and Cheyenne’s outer belt roadways, with easy access for residents and visitors. The Sweetgrass development is also described as having a robust trails network and City Greenway space.

    This offering is suited for buyers seeking land to develop or hold for a small, attached four-unit townhome structure under an established design guideline framework. With multiple phases outlined and Phase one identified as shovel ready, the property can support staged development planning while maintaining the same connected building concept across the overall offering.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.7777754
    Latitude
    41.100401

    Nearby Similar for Sale

    • $780,000
      3,448 SF

      Bar and Lounge with Liquor License

      Corner bar and lounge property with package liquor license, fixtures, furnishings, and ample parking.
      822 CENTRAL AVE, Cheyenne, WY 82001
      View Details
    • $1,150,000
      5,200 SF

      Two-Story Office Building with Tenant

      Two-story office building with a large conference room and second-floor offices and storage, sold with a tenant in place.
      2035 WESTLAND RD, Cheyenne, WY 82001
      View Details
    • $1,950,000
      7,760 SF

      Triple Net Automotive Retail Investment

      Two absolute triple-net leases offer established business tenancies along Dell Range Boulevard in Cheyenne.
      1625 DELL RANGE BLVD, Cheyenne, WY 82009
      View Details
    • $2,844,000
      14,100 SF

      High-Ceiling Multi-Use Building

      A multi-functional facility with a large open interior, offices, and a 10' overhead garage door for flexible use.
      6725 FAITH DR, Cheyenne, WY 82009
      View Details
    • $1,999,900
      7,856 SF

      Multi-Tenant NNN Commercial Building

      Well-maintained commercial building with two long-term NNN tenants, large parking, and updated rooftop HVAC for stable operations.
      1900 CONVERSE AVE, Cheyenne, WY 82001
      View Details
    • $1,360,000
      21,307 SF

      Office Building with Ample Parking

      Multi-tenant office building with parking and visibility, currently leased to five tenants, four of whom are long term.
      3120 OLD FAITHFUL RD, Cheyenne, WY 82001
      View Details
    • $499,900
      8,184 SF

      Historic Multi-Use Building with Loft

      Multi-use building with an open layout, two bathrooms, laundry hookups, and a loft area for flexible space planning.
      1713 PIONEER AVE, Cheyenne, WY 82001
      View Details
    • $799,900
      3,952 SF

      Fourplex with Separately Metered Utilities

      Four residential units with two bedrooms each, central air, and detached one-car garages, with gas and electricity separately metered.
      3216-3222 RANDY RD, Cheyenne, WY 82001
      View Details
    • $800,000
      6,775 SF

      Church Building with Billboard Lease

      Church property with strong I-80 frontage and an on-site billboard currently leased through 2032.
      110 CENTRAL AVE, Cheyenne, WY 82001
      View Details
    • $799,000
      3,888 SF

      Turnkey Mixed-Use Property with Coworking

      Renovated main-floor coworking workspace with private-access residential apartments, roof replacement, and flexible month-to-month commercial leases.
      2200 LOGAN AVE, Cheyenne, WY 82001
      View Details
    • $2,975,000
      217,800 SF

      New RV & Boat Storage

      Turnkey RV & Boat storage facility near Interstate 25.
      2262 Road 220, Cheyenne, WY 82009
      View Details
    • $799,000
      3,510 SF

      Fourplex Condominium Income Property

      Fully occupied fourplex with four individually titled condominium units and leases in place through August 31, 2026.
      511 W 6TH ST, Cheyenne, WY 82007
      View Details

    FAQs

    What type of property is this?
    Quadplex - Shovel-ready lots for a connected four-unit townhome building with easy access near LCCC and major belt roadways.
    Where is this quadplex located?
    The property is located at L43-46 B33 OPEN RANGE RD Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $292,000.
    What are key features of this property?
    This property features: Public water source available.; 4‑unit townhome building offered as a connected property with individually priced lots at $73,000 each sold together.; Phase one lots are shovel ready; Phase 2, 3 & 4 are on a rolling construction schedule.
    (307) 630-0528
    We can help!
    Listing Contact
    Larry Sutherland
    Real Estate License ID: 845
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    L43-46,B33 OPEN RANGE RD, Cheyenne, WY 82007
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!