Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    604 Locust St Rawlins, WY 82301

    • Commercial real estate
    • 2,890 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 604 Locust St

    Year built
    2022
    Lot size
    0.50 lot acres
    Property size
    2,890 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 604 Locust Street in Rawlins, Wyoming, presents a fantastic investment opportunity. The building boasts a substantial 2,890 square feet of versatile space, ideal for a variety of commercial uses. Situated on a half-acre lot, the property offers ample room for expansion, parking, or outdoor operations. The asking price of $229,000 represents significant value in the Rawlins market. The property's location in Rawlins provides easy access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-sized commercial building in a desirable location at a competitive price. The building's spacious layout allows for customization to suit a wide range of business needs. Whether you're looking to establish a new business or expand an existing one, this property offers the space and potential for growth. Its prime location in Rawlins ensures high visibility and accessibility for customers and employees. Serious inquiries are encouraged to explore the possibilities this property offers. Don't miss this chance to own a substantial commercial space in a growing Wyoming community. The property is ready for immediate occupancy, allowing for a quick start to your business ventures. Contact us today to schedule a viewing and discover the potential of 604 Locust Street.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rawlins
    County
    Carbon
    State
    Wyoming
    Longitude
    -107.225
    Latitude
    41.7803

    Comparable in this City

    • Value Estimation by Request
      120.00 Acres

      Cherokee Rd

      COMMERCIAL (GENERAL) • 120.00 Acres
      Cherokee Rd, Rawlins, WY 82301
      View Details
    • Value Estimation by Request
      2,142 SF

      702 Washington St

      COMMERCIAL (GENERAL) • 2,142 SF
      702 Washington St, Rawlins, WY 82301-6375
      View Details
    • Value Estimation by Request
      2,400 SF

      2309 Murray St

      COMMERCIAL (GENERAL) • 2,400 SF
      2309 Murray St, Rawlins, WY 82301
      View Details
    • Value Estimation by Request
      2,400 SF

      2301 Murray St

      COMMERCIAL (GENERAL) • 2,400 SF
      2301 Murray St, Rawlins, WY 82301
      View Details
    • Value Estimation by Request
      1,920 SF

      810 Spruce St

      COMMERCIAL (GENERAL) • 1,920 SF
      810 Spruce St, Rawlins, WY 82301
      View Details
    • Value Estimation by Request
      1,392 SF

      800 County Rd 272

      COMMERCIAL (GENERAL) • 1,392 SF
      800 County Rd 272, Rawlins, WY 82301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.31 Acres

      Rawlins Commercial Land - I-80 Access

      1.31 Acres, Walmart-adjacent, prime location.
      2380 Cedar St, Rawlins, WY 82301
      View Details
    • Contact for pricing
      8.62 Acres

      Rawlins Commercial Land - I-80 Visibility

      Prime 8.62-acre commercial lot, ideal for diverse uses.
      0 Cedar St, Rawlins, WY 82301
      View Details
    • $299,000
      5,632 SF

      Rawlins Commercial Building - Great Value

      Spacious commercial building, 1.4 acres, $299,000
      1924 Spruce St, Rawlins, WY 82301
      View Details
    • $135,000
      2,250 SF

      Rawlins Hangar: Prime Airport Space

      Spacious hangar, 2,250 sq ft, excellent location.
      00 Airport Hangar Only-Lt Blue Rd, Rawlins, WY 82301
      View Details
    • $175,000
      3,500 SF

      Rawlins Hangar: Prime Airport Space

      3,500 sq ft hangar, excellent location.
      00 Airport Hangar Only-Blue Rd, Rawlins, WY 82301
      View Details
    • $248,800
      155.46 Acres

      Wyoming Land Near Fort Steele

      155+ acres near I-80 and historic Fort Steele.
      Tbd County Rd 347, Fort Steele, WY 82301
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      47,600 SF

      Rawlins WY Retail Center

      Multi-Tenant Retail Space Available
      2201-2221 Cedar St, Rawlins, WY 82301
      View Details
    • Contact for pricing
      24,727 SF

      Spruce Street Retail Center Investment

      High-traffic retail space available now.
      1016 Spruce St, Rawlins, WY 82301
      View Details
    • $761 /Mo

      Apartment Building For Rent

      Apartment building available for rent in Other, WY.
      548 15Th St, Rawlins, WY 82301
      View Details
    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.
    604 Locust St
    Rawlins, WY 82301
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.