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    Property profile & analytics

    2201 Mitchell Ave Gillette, WY 82718

    • Warehouses
    • 4,500 SF
    • 1.25 lot acres
    For Sale
    View listing
    $1,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0068474
    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

    • Line Finders, LLC / Mapping Service / Oil And Gas Exploration Service
    • Williston Fire & Safety LLC / Fire Protection Service

    Property Details for 2201 Mitchell Ave

    Year built
    1996
    Lot size
    1.25 lot acres
    Property size
    4,500 SF
    Property type
    Warehouses
    APN
    R0031988
    APU
    R0031988

    Description

    This exceptional 1.25-acre industrial property located at 2201 Mitchell Ave, Gillette, Wyoming, 82718, presents a significant opportunity for businesses seeking a versatile and well-equipped space. The property boasts a substantial 4,500 square foot warehouse featuring three 12' x 14' overhead doors with electric openers, ensuring easy access for large equipment and materials. Two additional metal passage doors provide convenient entry points. The warehouse is equipped with 240V power and four large gas shop heaters, providing ample power and climate control. A convenient bathroom is also included within the warehouse area. Complementing the warehouse is a 3,036 square foot office space, offering a professional and functional environment. The office area includes a break room, a large open entry area, two private offices, and a spacious open area connecting to the warehouse. The property is fully fenced for security and offers dual access points – one from Mitchell Avenue and another from Country Club Road, providing convenient access and maneuverability. Its prime location, just a block from Highway 59 and with easy access to Interstate 90, ensures excellent visibility and convenient transportation links. This property is priced at $1,900,000 and represents a compelling investment opportunity in a thriving Wyoming market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $545,000
      6.5%
      $500,000
      7%
      $465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $334,000
      Market price range: $173k - $334k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $255,000
      Current use
      RETAIL STORES
      $400,000
      Change: +56% Conversion: Moderate
      MEDICAL BUILDING
      $315,000
      Change: +23% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $255,000
      Change: +0% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $230,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gillette
    County
    Campbell
    State
    Wyoming
    Longitude
    -105.489
    Latitude
    44.2749
    CBSA code
    23940
    CBSA name
    GILLETTE, WY MICROPOLITAN 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
    $6,164
    $31,036
    $56,572
    $87,608
    -
    $326,694
    $595,503
    $922,197

    Comparable in this City

    • Value Estimation
      $295,000
      2,520 SF

      5280 Hi Line Rd

      WAREHOUSE, STORAGE • 2,520 SF
      5280 Hi Line Rd, Gillette, WY 82718-8243
      View Details
    • Value Estimation
      $340,000
      3,600 SF

      5384 Winland Dr

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      5384 Winland Dr, Gillette, WY 82718-6944
      View Details
    • Value Estimation
      $935,000
      30,000 SF

      6304 Irving Blvd, Unit A

      WAREHOUSE, STORAGE • 30,000 SF
      6304 Irving Blvd, Gillette, WY 82718-7495
      View Details
    • Value Estimation
      $370,000
      4,128 SF

      1284 Lawver Rd

      WAREHOUSE, STORAGE • 4,128 SF
      1284 Lawver Rd, Gillette, WY 82718-9229
      View Details
    • Value Estimation
      $395,000
      4,000 SF

      5240 M M Cir

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      5240 M M Cir, Gillette, WY 82718-8210
      View Details
    • Value Estimation
      $360,000
      4,368 SF

      504 Lakeway Rd

      WAREHOUSE, STORAGE • 4,368 SF
      504 Lakeway Rd, Gillette, WY 82718-6415
      View Details

    Similar Nearby for Sale

    • $1,900,000
      1.25 Acres

      Gillette, WY Industrial Warehouse

      Spacious warehouse with office space, ideal for business.
      2201 Mitchell Ave, Gillette, WY 82718
      View Details
    • $1,100,000
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      Gillette Commercial Property with Residence

      2.98-acre commercial property with residential home and shop.
      370 Hwy, Gillette, WY 82718
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    • $876,000
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      Gillette, WY Papa Murphy's Investment

      High-yield QSR & Bank ATM property.
      2126 Douglas Hwy, Gillette, WY 82718
      View Details
    • $189,900
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      Gillette Industrial Lot For Sale

      1.74-acre industrial lot with utilities and highway access.
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    • $75,000
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      Residential Lot on Golf Course

      Golf course residential lot with city utilities and paved roads.
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      One-acre residential lot ready for custom home construction.
      506 Potter Ave, Gillette, WY 82718
      View Details
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    2201 Mitchell Ave
    Gillette, WY 82718
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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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