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

    1900 Lincolnway Cheyenne, WY 82001-3316

    • Motels
    • 15,303 SF
    • 1.94 lot acres
    OFF-MARKET
    Last Sale
    Jan 10, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0310110
    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

    • Super 8 by Wyndham Cheyenne WY / Hotel & Motel

    Property Details for 1900 Lincolnway

    Year built
    1987
    Lot size
    1.94 lot acres
    Property size
    15,303 SF
    Property type
    Motels
    APN
    17690000100010
    APU
    17690000100010

    Description

    Exceptional opportunity to acquire a well-established 60-key Super 8 by Wyndham hotel in Cheyenne, Wyoming. This profitable hospitality asset boasts 22,094 square feet on a 1.94-acre lot, strategically located at 1900 W Lincolnway, Cheyenne, WY 82001. Built in 1978, the single-building property benefits from high visibility near the intersection of I-25 and I-80, providing easy access to downtown Cheyenne, state government offices, and numerous local businesses. Cheyenne's thriving tourism sector, coupled with its robust business community and regional events, ensures consistent occupancy and revenue generation. This presents a compelling investment opportunity in a dynamic and growing city, offering significant potential for future growth and value appreciation. The property's strong performance history, combined with its prime location and established brand recognition, makes it an attractive addition to any hospitality portfolio. This turnkey operation is ready for a new owner to capitalize on its existing success and further enhance its market position. The asking price is $5,400,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.836
    Latitude
    41.1251
    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
    $8,667
    $25,796
    $100,276
    $126,072
    -
    $271,540
    $1,055,540
    $1,327,080

    Comparable in this City

    • Value Estimation
      $835,000
      29,532 SF

      1920 Lincolnway

      MOTEL • 29,532 SF
      1920 Lincolnway, Cheyenne, WY 82001-3316
      View Details
    • Value Estimation by Request
      10,773 SF

      1022 Lincolnway

      MOTEL • 10,773 SF
      1022 Lincolnway, Cheyenne, WY 82001-4206
      View Details
    • Value Estimation by Request
      2,875 SF

      1401 Lincolnway

      MOTEL • 2,875 SF
      1401 Lincolnway, Cheyenne, WY 82001-3308
      View Details
    • Value Estimation
      $655,000
      26,954 SF

      2512 Lincolnway

      MOTEL • 26,954 SF
      2512 Lincolnway, Cheyenne, WY 82001-3301
      View Details
    • Value Estimation
      $3,530,000
      5,548 SF

      1735 Westland Rd

      MOTEL • 5,548 SF
      1735 Westland Rd, Cheyenne, WY 82001-3321
      View Details
    • Value Estimation
      $1,295,000
      50,076 SF

      2335 Tura Pkwy

      MOTEL • 50,076 SF
      2335 Tura Pkwy, Cheyenne, WY 82001-3366
      View Details

    Similar Nearby for Sale

    • $800,000
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      Cheyenne Commercial Land - 5.4 Acres

      Mixed-use business land, owner financing available.
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    • $590,000
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      Cheyenne Commercial Land - Prime Location

      High-visibility corner lot, 0.38 acres.
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    • $149,000
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      Turnkey Pizzeria Business Opportunity

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    • $175,000
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      Residential Land Ready to Build

      Land for sale with easy access to major roads.
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    • $300,000

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    Similar Nearby for Lease

    • $24 SF/Yr
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      Cheyenne Office Space For Rent

      10,500 SF office space available for lease.
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    • $10 SF/Yr
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      Cheyenne Retail Space Available

      6,300 SF retail space for lease in Cheyenne, Wyoming.
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    • 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
    • $10 SF/Yr
      20,800 SF

      Cheyenne Warehouse: 20,800 SF

      Spacious Cheyenne warehouse, ideal for contractors. Large yard available.
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    • $3,640,000
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      High-Traffic Commercial Property in Cheyenne

      Prime commercial property with high visibility and flexible space.
      3320 E Lincolnway, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      5,820 SF

      Cheyenne Office Space For Lease

      Open-concept office space in Airport Parkway Building, Cheyenne, Wyoming.
      1401 Airport Pkwy, Cheyenne, WY 82001
      View Details
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    Cheyenne, WY 82001-3316
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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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