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Property profile & analytics
OFF-MARKET
Estimated value
$2,195,000
Investment properties
216 Lincolnway Cheyenne, WY 82001-4410
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US95-0033742
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1882
Total area
22,661 SF
Lot
0.2 ac (8,670 SF)
Zoning code
CBD
APN
11001039000052
UPID
US95-0033742
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Carl's Jr. Restaurant Take-out & Catering
-
Wyoming Home Home Decor Store Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.20M
Owner & transaction history
216 West Lincolnway LLC · 6 yrs held
216 West Lincolnway LLC
since 2020
7 recorded transactions
Zoning & alternative use
CBD · Cheyenne, WY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+40.9%
Retail stores
$2.3M
+21.7%
Restaurant
$2.3M
+18.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cheyenne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheyenne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,650,000
6.5%
$2,445,000
7%
$2,270,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,920,000
Current use
OFFICE BUILDING
$2,700,000
Change: +41% · Conversion: Easy
RETAIL STORES
$2,335,000
Change: +22% · Conversion: Easy
RESTAURANT
$2,275,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$2,250,000
Change: +17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,185,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$2.20M
Range $1.98M – $2.41M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$25,950
Tax year 2023
Assessed value
$289,965
Assessed 2024
Previous assessed
$286,080
+1.4% YoY
Effective rate
8.95%
On assessed value
Assessed land
$10,287
Assessed improvement
$279,678
Land market value
$108,286
Improvement market value
$2,943,984
Total market value
$3,052,270
Applied tax rate
151.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1882
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Total area
22,661 SF
Lot
0.2 ac (8,670 SF)
Zoning code
CBD
APN
11001039000052
UPID
US95-0033742
Jurisdiction
LARAMIE
Zoning & alternative use
CBD · Cheyenne, WY
Zoning CBD · permitted uses
CBD · Cheyenne, WY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cheyenne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.3M
RESTAURANT
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1882
Heating
PACKAGE
Cooling
Yes
Stories
3
Lot
0.2 ac
Current owner
From public records · entity-resolved
216 West Lincolnway LLC
Entity
Mailing address
401 W MTN AVE, FORT COLLINS, CO 80521-2680
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2025
—
Erehead 216 LLC
—
Deed
related
$1,162,500 · Meridian Trust FCU
Feb 28, 2020
—
216 West Lincolnway LLC
Reese Miller Rental LLC
Warranty Deed
related
—
Jun 6, 2019
—
Westridge LLC
Hansen,carolyn
Quitclaim Deed
related
—
Nov 13, 2006
—
Reese Miller Rental LLC
—
Trustees Deed
related
$410,000 · Jonah Bank
Aug 11, 2006
—
Reese Miller Rental LLC
Reese Miller LLC
Quit Claim Deed
related
—
—
—
Reese Miller Rental LLC
—
Deed Of Trust
related
$318,743 · Jonah Bank
—
—
Reese Miller Rental LLC
—
Deed Of Trust
related
$435,500 · Jonah Bk/wy
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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