1457 Coffeen Ave Sheridan, WY 82801
- Warehouses
- 93,570 SF
- 2.45 lot acres
Current Use by Public Records
- Holly Reimagined, LLC / Storage Facility
- Holly Seed / Agriculture
Property Details for 1457 Coffeen Ave
- Year built
- 1915
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.45 lot acres
- Property size
- 93,570 SF
- Property type
- Warehouses
- APN
- 03-5684-35-4-00-054-33
- APU
- 356843540005433
Description
This exceptional redevelopment opportunity presents a unique chance to acquire the historic Holly Sugar Factory building in Sheridan, Wyoming. Located at 1457 Coffeen Ave, Sheridan, WY 82801, this 101,000 square foot, five-story structure sits on a 2.45-acre lot and offers a compelling blend of industrial and mixed-use potential. Currently operating at 35% occupancy with six tenants, the property generates a net operating income (NOI) of $400,000, yielding a 9.33% cap rate. The asking price is $4,800,000, translating to $44.55 per square foot. The building boasts ceiling heights ranging from 8 to 25 feet, providing ample space for diverse uses. Its M1 zoning allows for a variety of development options. The main floor alone exceeds 56,000 square feet, suitable for individual or multiple lease spaces. Upper floors offer blank slate opportunities for additional leasable space, potentially adaptable for residential use with stunning Big Horn Mountain views. This prime real estate campus offers immediate income from existing tenants, providing a solid foundation for future development and increased profitability. The current NOI supports a 25% cash-to-debt ratio with standard financing. This is a rare chance to capitalize on Sheridan's growing economy and create a landmark mixed-use development.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $765,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $975,000
- 6.5%
- $985,000
- 7%
- $920,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,095,000
- Geo Method
- $930,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $940,000
- Retail
- $1,100,000
- Mixed-Use
- $1,080,000
- Hospitality
- $1,030,000
- Educational
- $1,120,000
- Residential Income
- $895,000
- Energy
- $930,000
- Income-Based Land
- $1,010,000
- Food Service
- $850,000
Location Insight
- Map
- Local Demand
- City
- Sheridan
- County
- Sheridan
- State
- Wyoming
- Longitude
- -106.941
- Latitude
- 44.7823
- CBSA code
- 43260
- CBSA name
- SHERIDAN, WY MICROPOLITAN STATISTICAL AREA
