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    Shovel-Ready Townhome Land Title is generated by Realmo AI

    L8-12 B35 BIG MEADOW DR, Cheyenne, WY 82007

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    For Sale
    $365,000

    LAND - Cheyenne, WY

    Lot size:
    0.48 Acres
    Added:
    Feb 8, 2023
    Days on Market:
    1211
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for L8-12 B35 BIG MEADOW DR

    General Information

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

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Lots 8,9,10,11,12 B 35, 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# 88888 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

    • 5‑unit townhome building with individually priced lots sold together at $73,000 each
    • Phase one lots are shovel ready, with Phase 2, 3 and 4 on a rolling construction schedule
    • Public water source
    • Development is positioned adjacent to LCCC and Cheyenne’s outer belt roadways with easy access
    • Modern farmhouse design guidelines referenced in associated docs

    Overview

    This offering includes a connected parcel/package of individually priced lots planned to support a five-unit townhome building. The project is described as a single, connected property rather than separate stand-alone sites, and it follows modern farmhouse design guidelines referenced in the associated documents. Phase one lots are stated as shovel ready, with phases two through four scheduled on a rolling construction basis.

    The property is described as strategically positioned adjacent to LCCC and Cheyenne’s outer belt roadways, providing easy access. The remarks also note nearby trails network and city greenway space as part of the surrounding setting.

    For developers and buyers evaluating residential income or townhome construction, the key practical advantage here is the ability to stage the work across multiple phases beginning with shovel-ready phase one. The connected five-unit configuration may appeal to operators seeking a compact, cohesive residential building plan guided by the provided design standards, with subsequent phases built on a rolling schedule. Prospective buyers should review the associated design guidelines and phase documentation for specifics on the planned development approach.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.7782475
    Latitude
    41.1008941

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    FAQs

    What type of property is this?
    Apartment building - Shovel-ready lots for a connected five-unit townhome building with phased development and modern farmhouse design guidelines.
    Where is this apartment building located?
    The property is located at L8-12 B35 BIG MEADOW DR Cheyenne, WY.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: 5‑unit townhome building with individually priced lots sold together at $73,000 each; Phase one lots are shovel ready, with Phase 2, 3 and 4 on a rolling construction schedule; Public water source
    (307) 630-0528
    We can help!
    Listing Contact
    Larry Sutherland
    Real Estate License ID: 845
    Learn More
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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.

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