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    Property profile & analytics

    1715 Carey Ave Cheyenne, WY 82001-4419

    • Showrooms
    • 7,099 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0026689
    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

    • Manitou Galleries / Art Gallery

    Property Details for 1715 Carey Ave

    Year built
    1937
    Lot size
    0.17 lot acres
    Property size
    7,099 SF
    Zone code
    CBD
    Property type
    Showrooms
    APN
    11001035500032
    APU
    11001035500032

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $830,000
      6.5%
      $765,000
      7%
      $710,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $600,000
      Current use
      OFFICE BUILDING
      $845,000
      Change: +41% Conversion: Easy
      RETAIL STORES
      $730,000
      Change: +22% Conversion: Easy
      RESTAURANT
      $715,000
      Change: +19% Conversion: Difficult
      MEDICAL BUILDING
      $705,000
      Change: +17% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $685,000
      Change: +14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.817
    Latitude
    41.1339
    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
    $7,485
    $9,495
    $74,938
    $84,433
    -
    $99,946
    $788,818
    $888,764

    Comparable in this City

    • Value Estimation
      $945,000
      8,467 SF

      3424 Pershing Blvd

      SHOW ROOM, WAREHOUSE • 8,467 SF
      3424 Pershing Blvd, Cheyenne, WY 82001-5916
      View Details
    • Value Estimation
      $1,350,000
      12,800 SF

      3608 Lincolnway

      SHOW ROOM, WAREHOUSE • 12,800 SF
      3608 Lincolnway, Cheyenne, WY 82001-6340
      View Details
    • Value Estimation
      $730,000
      11,064 SF

      3418 Pershing Blvd

      SHOW ROOM, WAREHOUSE • 11,064 SF
      3418 Pershing Blvd, Cheyenne, WY 82001-5916
      View Details
    • Value Estimation
      $2,630,000
      45,140 SF

      2717 Lincolnway

      SHOW ROOM, WAREHOUSE • 45,140 SF
      2717 Lincolnway, Cheyenne, WY 82001-5676
      View Details
    • Value Estimation
      $520,000
      4,608 SF

      Polk Ave

      SHOW ROOM, WAREHOUSE • 4,608 SF
      Polk Ave, Cheyenne, WY 82001
      View Details
    • Value Estimation by Request
      8,200 SF

      6520 Hinesley Rd

      SHOW ROOM, WAREHOUSE • 8,200 SF
      6520 Hinesley Rd, Cheyenne, WY 82001-2321
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,290 SF

      High-Visibility Retail/Office/Salon Space

      Retail/office/salon space with basement apartment and detached garage.
      720 E Lincolnway, Cheyenne, WY 82001
      View Details
    • $390,000
      2,580 SF

      High-Visibility Retail/Office/Salon Opportunity

      Cheyenne commercial property with retail/office space and basement apartment.
      720 E Lincolnway, Cheyenne, WY 82001
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    • $295,000
      2,593 SF

      Cheyenne Retail Liquor License Opportunity

      Retail liquor license for sale in Cheyenne, Wyoming.
      301 E Lincolnway, Cheyenne, WY 82001
      View Details
    • $80,000
      510 SF

      Established Lingerie Boutique Business

      Turn-key lingerie boutique business for sale in Cheyenne, Wyoming.
      803 W 21St St, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      0.21 Acres

      Cheyenne Commercial Lot - 0.21 Acres

      Prime Cheyenne commercial land, ideal for development.
      3830 Atkin St, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      0.20 Acres

      Prime Cheyenne Commercial Lot

      0.2-acre lot, ideal for development.
      216 Lincolnway, Cheyenne, WY 82001
      View Details

    Similar Nearby for Lease

    • 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
      View Details
    • Contact for pricing

      High-Traffic Commercial Property in Cheyenne

      Prime commercial property with high visibility and flexible space.
      3320 E Lincolnway, 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
    • $12 SF/Yr
      4,900 SF

      Retail Space in Cheyenne, Wyoming

      4,900 SF retail space available for lease.
      1600 Van Lennen Ave, Cheyenne, WY 82001
      View Details
    • Contact for pricing

      Historic Downtown Cheyenne Office Space

      Premier office space for lease in the Deming Building.
      1620 Central Ave, Cheyenne, WY 82001
      View Details
    • $15 SF/Yr
      3,087 SF

      Cheyenne Office Space For Rent

      Office space available for lease in Cheyenne, Wyoming.
      1013 E Lincolnway, Cheyenne, WY 82001
      View Details
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    Cheyenne, WY 82001-4419
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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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