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    Property profile & analytics

    1851 Dell Range Blvd Cheyenne, WY 82009-4900

    • Grocery and convenience stores
    • 23,193 SF
    • 1.75 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2023
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0033444
    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

    • Natural grocers / Grocery & Convenience Store / Food Market

    Property Details for 1851 Dell Range Blvd

    Year built
    1995
    Lot size
    1.75 lot acres
    Property size
    23,193 SF
    Zone code
    CB
    Property type
    Grocery and convenience stores
    APN
    16995000100022
    APU
    16995000100022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $655,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $506,000
      Market price range: $319k - $1.28M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $705,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.795
    Latitude
    41.1596
    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
    $14,559
    $53,087
    $145,190
    $198,277
    -
    $558,815
    $1,528,318
    $2,087,133

    Comparable in this City

    • Value Estimation by Request
      4,282 SF

      140 Gardenia Dr

      CONVENIENCE STORE • 4,282 SF
      140 Gardenia Dr, Cheyenne, WY 82009-2600
      View Details
    • Value Estimation by Request
      1,876 SF

      314 Dell Range Blvd

      CONVENIENCE STORE • 1,876 SF
      314 Dell Range Blvd, Cheyenne, WY 82009-4704
      View Details
    • Value Estimation by Request
      2,503 SF

      2414 Dell Range Blvd

      CONVENIENCE STORE • 2,503 SF
      2414 Dell Range Blvd, Cheyenne, WY 82009-5178
      View Details
    • Value Estimation
      $1,010,000
      44,917 SF

      5800 Yellowstone Rd

      GROCERY, SUPERMARKET • 44,917 SF
      5800 Yellowstone Rd, Cheyenne, WY 82009-4131
      View Details
    • Value Estimation by Request
      2,100 SF

      2029 Dell Range Blvd

      CONVENIENCE STORE • 2,100 SF
      2029 Dell Range Blvd, Cheyenne, WY 82009-4954
      View Details
    • Value Estimation by Request
      1,260 SF

      600 Vandehei Ave

      CONVENIENCE STORE • 1,260 SF
      600 Vandehei Ave, Cheyenne, WY 82009-2555
      View Details

    Similar Nearby for Sale

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      Cheyenne Maverik Gas Station Investment

      High-yield NNN ground lease, strong tenant.
      140 Gardenia Dr, Cheyenne, WY 82009
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    • $950,000
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      Cheyenne Retail/Commercial Fuel Service Station

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      Cheyenne Commercial Property For Sale

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      Cheyenne Ranch with Shop Space

      Move-in ready ranch featuring extensive shop space on nearly 5 acres.
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    • $2,975,000
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      Turnkey RV & Boat Storage Facility

      New, state-of-the-art RV & boat storage facility for sale.
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    • $1,300,000
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      Cheyenne Commercial Building For Sale

      Commercial building/land in North Cheyenne with high visibility and traffic.
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    Similar Nearby for Lease

    • New
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      1,880 SF

      Prime Cheyenne Office/Retail Space

      Highly visible space on Dell Range Corridor, suitable for various businesses.
      4620 Grandview Ave, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      4,352 SF

      Cheyenne Commercial Condo with High Ceilings

      Commercial condo in high-traffic area, ideal for sports center.
      515 E Carlson St, Cheyenne, WY 82009
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      523,709 SF

      Frontier Mall: Prime Retail/Office Space

      Cheyenne, WY: Mixed-use spaces available
      1400 Dell Range Blvd, Cheyenne, WY 82009
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    • Contact for pricing
      19,500 SF

      Cheyenne Retail Space Available

      19,500 SF Retail Space in Cheyenne, WY
      1840 Dell Range Blvd, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      29,756 SF

      Dell Range Blvd Land Lease

      Land lease opportunity in Dell Range Pavilion shopping center.
      1217 Dell Range Blvd, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      29,756 SF

      Dell Range Blvd Land Lease

      Pad site/land lease in Dell Range Pavilion shopping center.
      1217 Dell Range Blvd, Cheyenne, WY 82009
      View Details
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    Cheyenne, WY 82009-4900
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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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