140 Gardenia Dr Cheyenne, WY 82009
- Grocery and convenience stores
- 4,282 SF
- 1.33 lot acres
Current Use by Public Records
- Maverik Adventure's First Stop / Gas Station / Convenience Store
Property Details for 140 Gardenia Dr
- Year built
- 2010
- Lot size
- 1.33 lot acres
- Property size
- 4,282 SF
- Zone code
- CB
- Property type
- Grocery and convenience stores
- APN
- 12322000100070
- APU
- 12322000100070
Description
This exceptional investment opportunity presents a 4,282 square foot Maverik gas station and convenience store in Cheyenne, Wyoming. Located on a 1.33-acre lot at a hard corner with high visibility near I-25, this property boasts 10 gas pumps and a 100% occupancy rate. The absolute NNN ground lease with a corporate guarantee provides significant security, featuring a remaining term of 17.1 years with ten 5-year renewal options. Rent increases by 7% every 5 years, offering a hedge against inflation. Built in 2010, the property generates a substantial NOI of $115,560, representing a 4.50% cap rate and a price per square foot of $599.72. The asking price is $2,568,000. The property benefits from excellent demographics, with over 67,585 people within a 5-mile radius and an average household income exceeding $109,000 within 1 mile. Maverik, a leading convenience store brand with over 800 locations, is known for its high-quality food offerings and strong customer loyalty program. This investment offers a compelling combination of strong tenant, long-term lease, and attractive financial metrics. A 7% rent increase is scheduled for the end of 2026.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cheyenne
- County
- Laramie
- State
- Wyoming
- Longitude
- -104.828
- Latitude
- 41.1824
- CBSA code
- 16940
- CBSA name
- CHEYENNE, WY METROPOLITAN STATISTICAL AREA
