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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1600 Central Ave Cheyenne, WY 82001-4693

    • Hotels
    • 84,613 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $1,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0025558
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Capitol Grille / Restaurant
    • Salon Suite 1600 / Hair Salon / Nail Salon
    • Ecliptz Hair & Skin Studio / Hair Salon / Nail Salon
    • The Historic Plains Hotel & Restaurant / Restaurant
    • Wigwam Lounge / Bar & Pub

    Property Details for 1600 Central Ave

    Year built
    1911
    Lot size
    0.45 lot acres
    Property size
    84,613 SF
    Zone code
    CBD
    Property type
    Hotels
    APN
    11001038900060
    APU
    11001038900060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,896,000
      Market price range: $1.90M - $3.63M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,220,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.815
    Latitude
    41.1333
    CBSA code
    16940
    CBSA name
    CHEYENNE, WY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $37,307
    $16,274
    $400,875
    $417,149
    -
    $171,309
    $4,219,741
    $4,391,050

    Comparable in this City

    • Value Estimation
      $2,110,000
      79,855 SF

      2800 Lincolnway

      HOTEL • 79,855 SF
      2800 Lincolnway, Cheyenne, WY 82001-3302
      View Details
    • Value Estimation
      $1,225,000
      49,242 SF

      2410 Lincolnway

      HOTEL • 49,242 SF
      2410 Lincolnway, Cheyenne, WY 82001-3301
      View Details
    • Value Estimation
      $1,530,000
      79,855 SF

      2800 Lincolnway

      HOTEL • 79,855 SF
      2800 Lincolnway, Cheyenne, WY 82001-3302
      View Details
    • Value Estimation
      $1,340,000
      46,094 SF

      1741 Fleischli Pkwy

      HOTEL • 46,094 SF
      1741 Fleischli Pkwy, Cheyenne, WY 82001-3355
      View Details
    • Value Estimation
      $1,485,000
      51,723 SF

      1820 Lincolnway

      HOTEL • 51,723 SF
      1820 Lincolnway, Cheyenne, WY 82001-3334
      View Details
    • Value Estimation
      $1,210,000
      61,166 SF

      2360 Lincolnway

      HOTEL • 61,166 SF
      2360 Lincolnway, Cheyenne, WY 82001-3353
      View Details

    Similar Nearby for Sale

    • $3,800,000
      5.00 Acres

      Prime Commercial Land on Yellowstone

      Five-acre commercial parcel in Cheyenne, ideal for diverse development.
      6810 Yellowstone Rd, Cheyenne, WY 82001
      View Details
    • $850,000
      16.55 Acres

      Cheyenne Residential Land with Views

      Prime land with mountain views, close to town.
      8420 E Pershing Blvd, Cheyenne, WY 82001
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    • Contact for pricing
      1,650 SF

      Prime Downtown Cheyenne Office Space

      High-visibility corner office space in the heart of Cheyenne.
      1810 Capitol Ave, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      3,956 SF

      Cheyenne Plaza Retail Opportunity

      Prominent shopping center with diverse retail spaces in Cheyenne, Wyoming.
      3609 E Lincolnway, Cheyenne, WY 82001
      View Details
    • $1,200,000
      1.20 Acres

      Prime Shovel Ready Land

      Over 1.1 acres of vacant land zoned MUB.
      3820 E Pershing Blvd, Cheyenne, WY 82001
      View Details
    • $200,000
      0.39 Acres

      Residential Lot with Two Buildings

      Lot with two buildings, ample parking, and room to grow.
      3802 Mccann Ave, Cheyenne, WY 82001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,500 SF

      Cheyenne Office Space For Rent

      10,500 SF office space available for lease.
      4017 Rawlins St, Cheyenne, WY 82001
      View Details
    • $10 SF/Yr
      6,300 SF

      Cheyenne Retail Space Available

      6,300 SF retail space for lease in Cheyenne, Wyoming.
      2624 Old Happy Jack Rd, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      15,000 SF

      Cheyenne Office/Medical Space Available

      15,000 SF office/medical space in excellent Cheyenne location.
      1401 Airport Pkwy, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      7,738 SF

      Cheyenne Office Space For Lease

      7873 sq. ft. office space available for lease.
      2020 Capitol Ave, Cheyenne, WY 82001
      View Details
    • Contact for pricing

      Cheyenne Warehouse Space Available

      Warehouse space available in Cheyenne, Wyoming.
      Dark Fiber & Duct West, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      120 SF

      Prime Cheyenne Office Space Available

      Exceptional commercial office space in the heart of downtown Cheyenne.
      204 W 18Th St, Cheyenne, WY 82001
      View Details
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    1600 Central Ave
    Cheyenne, WY 82001-4693
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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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