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    Property profile & analytics

    1614 House Ave Cheyenne, WY 82001

    • Individual retail properties
    • 4,150 SF
    • 0.20 lot acres
    For Sale
    View listing
    $725,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0020414
    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

    • Deluxe Cleaners & Tailors / Dry Cleaner

    Property Details for 1614 House Ave

    Year built
    1945
    Lot size
    0.20 lot acres
    Property size
    4,150 SF
    Zone code
    CBD
    Property type
    Individual retail properties
    APN
    11001038700010
    APU
    11001038700010

    Description

    This exceptional investment opportunity presents a thriving, owner-user convenience store in Cheyenne, Wyoming's central business district (CBD). The property, located at 1614 House Ave, encompasses a 4,150-square-foot retail space with a 100% occupancy rate, generating a gross income of $383,000 in 2023. The building, constructed in 1945 and renovated in 2000, sits on a 0.2-acre lot and includes 20 parking spaces. The property features a Class C building with two stories, offering a total of 4,150 square feet of net rentable space, priced at $174.70 per square foot. Significant air rights of 8,712 square feet are also available. The property is zoned for CBD use and includes a 900-square-foot upstairs office space (three offices and a half-bath) with rental potential of $15 per square foot annually. The sale includes the established business, Deluxe Tailors, operating under a gross lease, and a Chevy van. The seller is offering financing options with a 6% interest-only loan for three years. The property's Parcel Identification Number (APN) is PIDN: 14663143800100. This is a rare opportunity to acquire a profitable, established business with significant upside potential in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $430,000
      MEDICAL BUILDING
      $410,000
      COMMERCIAL (GENERAL)
      $350,000
      AUTO REPAIR, GARAGE
      $270,000
      WAREHOUSE, STORAGE
      $220,000
      NEIGHBORHOOD: SHOPPING CENTER
      $190,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.813
    Latitude
    41.1345
    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
    $3,385
    $10,310
    $28,556
    $38,866
    -
    $108,530
    $300,590
    $409,120

    Comparable in this City

    • Value Estimation
      $290,000
      1,424 SF

      501 Randall Ave

      DRY CLEANER • 1,424 SF
      501 Randall Ave, Cheyenne, WY 82001-2744
      View Details
    • Value Estimation
      $310,000
      3,989 SF

      2107 Lincolnway

      DRY CLEANER • 3,989 SF
      2107 Lincolnway, Cheyenne, WY 82001
      View Details
    • Value Estimation
      $450,000
      8,580 SF

      3917 Pershing Blvd

      GYM, HEALTH SPA • 8,580 SF
      3917 Pershing Blvd, Cheyenne, WY 82001-6187
      View Details
    • Value Estimation
      $300,000
      2,820 SF

      2528 Lincolnway

      GYM, HEALTH SPA • 2,820 SF
      2528 Lincolnway, Cheyenne, WY 82001-5448
      View Details
    • Value Estimation
      $335,000
      7,240 SF

      1900 Converse Ave

      GYM, HEALTH SPA • 7,240 SF
      1900 Converse Ave, Cheyenne, WY 82001-4112
      View Details
    • Value Estimation
      $285,000
      1,368 SF

      1415 Logan Ave

      LAUNDROMAT (SELF-SERVICE) • 1,368 SF
      1415 Logan Ave, Cheyenne, WY 82001-5135
      View Details

    Similar Nearby for Sale

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      High-Visibility Retail/Office Space Available

      Retail/office space on a busy connector with high traffic.
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    • $1,100,000
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      Downtown Cheyenne Mixed-Use Opportunity

      Office, retail, or warehouse opportunity in downtown Cheyenne.
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    • $725,000
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      Cheyenne Retail Investment Opportunity

      Prime Cheyenne location, established business.
      1614 House Ave, Cheyenne, WY 82001
      View Details

    Similar Nearby for Lease

    • $3,640,000
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      High-Traffic Commercial Property in Cheyenne

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    • $10 SF/Yr
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      Cheyenne Retail Space Available

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    • Contact for pricing
      1,288 SF

      Cheyenne Retail Space For Lease

      Retail space available for lease in Cheyenne, Wyoming.
      420 Randall Ave, Cheyenne, WY 82001
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    • $18 SF/Yr
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      Retail Space Available For Lease

      Retail space available for lease, approximately 2,060 square feet.
      4008 Laramie St, Cheyenne, WY 82001
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    • $12 SF/Yr
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      Retail Space in Cheyenne, Wyoming

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    • $24 SF/Yr
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      Cheyenne Office Space For Rent

      10,500 SF office space available for lease.
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      View Details
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    1614 House Ave
    Cheyenne, WY 82001
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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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