Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2003 Bluegrass Cir Cheyenne, WY 82009-7329
    Back to Search
    Property profile & analytics

    2003 Bluegrass Cir, Cheyenne, WY 82009-7329

    View on Map
    • Medical Office Space
    • 22,330 SF
    • 3.86 lot acres
    Off-Market
    Property ID
    US95-0052581
    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.
    Value Estimations
    $1,810,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cheyenne Radiology Group / Medical Clinic
    • Daniel R. Possehn, DO / Physician / Medical Clinic
    • Scott A. Hayden, M.D. / Physician / Medical Clinic
    • Cheyenne Radiology / Physician / Medical Clinic
    • Cheyenne Women's Imaging Pavilion / Physician

    Property Details for 2003 Bluegrass Cir

    Year built
    2006
    Lot size
    3.86 lot acres
    Zone code
    CB
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    13152000100010
    APU
    13152000100010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    — — Crg Properties LLC — Deed Of Trust · related $750k · American National Bank & Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,804,000
      Market price range: $897k - $1.97M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,555,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,020,000
      Change: +30% Conversion: Moderate
      RESTAURANT
      $1,825,000
      Change: +17% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,380,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.792
    Latitude
    41.1581
    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
    $34,192
    $106,710
    $363,670
    $470,380
    -
    $1,123,268
    $3,828,105
    $4,951,373

    Comparable in this City

    • Value Estimation by Request
      3,286 SF

      2500 Dell Range Blvd

      MEDICAL BUILDING
      2500 Dell Range Blvd, Cheyenne, WY 82009-5273
      View Details
    • Value Estimation by Request
      3,548 SF

      6252 Yellowstone Rd

      MEDICAL BUILDING
      6252 Yellowstone Rd, Cheyenne, WY 82009-3432
      View Details
    • Value Estimation by Request
      2,607 SF

      6238 Yellowstone Rd

      MEDICAL BUILDING
      6238 Yellowstone Rd, Cheyenne, WY 82009-3432
      View Details
    • Value Estimation by Request
      9,184 SF

      7226 Cmns Dr

      MEDICAL BUILDING
      7226 Cmns Dr, Cheyenne, WY 82009-2676
      View Details
    • Value Estimation by Request
      2,791 SF

      7356 Stockman St

      MEDICAL BUILDING
      7356 Stockman St, Cheyenne, WY 82009-6006
      View Details
    • Value Estimation by Request
      5,008 SF

      7212 Cmns Cir

      MEDICAL BUILDING
      7212 Cmns Cir, Cheyenne, WY 82009-2667
      View Details

    Similar Nearby for Sale

    • $5,685,000
      31,047 SF

      Two-Story Retail and Medical Building

      Multi-suite two-story commercial building with leased restaurant, dental office, and childcare space, plus ample parking.
      4620 Grandview Ave, Cheyenne, WY 82009
      View Details
    • $2,844,000
      14,100 SF

      High-Ceiling Multi-Use Building

      A multi-functional facility with a large open interior, offices, and a 10' overhead garage door for flexible use.
      6725 Faith Dr, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      8,177 SF

      Class A Office Space Investment

      Fully leased Class A office space in Cheyenne, Wyoming.
      1103 Old Town Ln, Cheyenne, WY 82009
      View Details
    • $3,800,000
      9,636 SF

      ADA-Compliant Office Building

      Absolute NNN office property leased through an existing extension, featuring multiple offices, conference rooms, training space, and elevator access.
      245 Storey Blvd, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      23.76 Acres

      Cheyenne Industrial Land - 23 Acres

      Prime Cheyenne industrial land, ready for development.
      Tbd Veta Dr, Cheyenne, WY 82009
      View Details
    • Contact for pricing

      Cheyenne Multifamily Property for Sale

      Multifamily property available in Cheyenne, Wyoming.
      4700 Mountain Rd, Cheyenne, WY 82009
      View Details

    Similar Nearby for Lease

    • New
      Contact for pricing
      6,000 SF

      Warehouse with Office and Fenced Yard

      Functional warehouse with drive-in doors, built-in office space, and a fenced yard for operations and storage.
      1120 Aviation Rd, Cheyenne, WY 82009
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces for lease in Frontier Mall.
      1400 Dell Range Blvd, Cheyenne, WY 82009
      View Details
    • Contact for pricing

      Commercial Pad Site For Rent

      One-acre commercial pad site with easy access in Cheyenne.
      5232 Rue Terre, Cheyenne, WY 82009
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 19,500 square feet.
      1840 Dell Range Blvd, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      26,028 SF

      Two-Building Specialty Property

      Two buildings with a large east-side door provide flexible space for storage, service, or light industrial use.
      4390 Service Road, Cheyenne, WY 82009
      View Details
    • Contact for pricing
      74,052 SF

      Partially Fenced Industrial Lot

      Vacant 1.7-acre lot with partial fencing and a small storage unit near the I-80/College Blvd interchange.
      190 S College Dr, Cheyenne, WY 82009
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2003 Bluegrass Cir
    Cheyenne, WY 82009-7329
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2003 Bluegrass Cir, Cheyenne, WY, 82009
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!