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    Property profile & analytics

    21405 Kortes Rd Alcova, WY 82620

    • Commercial real estate
    • 3,106 SF
    • 4.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 21405 Kortes Rd

    Year built
    1953
    Lot size
    4.52 lot acres
    Property size
    3,106 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 21405 Kortes Road in Alcova, Wyoming, presents a unique investment opportunity. Boasting a substantial 3,106 square feet of space, the building offers ample room for a variety of commercial ventures. The property sits on a generous 4.52-acre lot, providing significant potential for expansion or outdoor operations. Its prime location in Alcova offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a strong presence in the area. The asking price for this remarkable property is $3,800,000. The substantial size of both the building and the land parcel provides flexibility for a wide range of commercial uses, from retail and office space to light industrial or warehousing. The property's location within Alcova offers a blend of accessibility and a desirable setting. Serious inquiries are encouraged to explore the possibilities this property presents. Detailed property information and specifications are available upon request. This is a rare opportunity to acquire a significant commercial property in a desirable Wyoming location. Don't miss out on this chance to secure a valuable asset with considerable growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Alcova
    County
    Natrona
    State
    Wyoming
    Longitude
    -106.724
    Latitude
    42.5605

    Comparable in this City

    • Value Estimation by Request
      196,891 SF

      21405 Kortes Rd

      Investment properties • 196,891 SF
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    • Value Estimation by Request
      1,800 SF

      22265 State Hwy 220

      WAREHOUSE, STORAGE • 1,800 SF
      22265 State Hwy 220, Alcova, WY 82620-5027
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    • Value Estimation by Request
      6,408 SF

      24025 Lakeshore Dr

      RESTAURANT • 6,408 SF
      24025 Lakeshore Dr, Alcova, WY 82620-5063
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      0.61 Acres

      Hwy 220

      VACANT COMMERCIAL LAND • 0.61 Acres
      Hwy 220, Alcova, WY 82620
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    • Value Estimation by Request
      2,052 SF

      24725 Lakeshore Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,052 SF
      24725 Lakeshore Dr, Alcova, WY 82620
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    • Value Estimation by Request
      1,408 SF

      22258 Hwy 220

      MOTEL • 1,408 SF
      22258 Hwy 220, Alcova, WY 82620-5060
      View Details

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      Wyoming General Store and Cabins

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    Alcova, WY 82620
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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.

    More about this property
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