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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Warehouses
321 Lexington Ave Cheyenne, WY 82007-1805
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US95-0050916
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
14,250 SF
Lot
1.03 ac (44,881 SF)
Zoning code
HI
APN
11049000100030
UPID
US95-0050916
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
-
Paramount Supply Factory Metal Fabrication Plant
-
Sara Leebakery Group Bakery Specialty Food Shop
-
TruGreen Lawn Care Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$415k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$500k
Owner & transaction history
Lexington Warehouse LLC · 2 yrs held
Lexington Warehouse LLC
since 2024
6 recorded transactions
Zoning & alternative use
HI · Cheyenne, WY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$810,000
+50.5%
Retail stores
$675,000
+24.9%
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
$415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$540,000
Current use
AUTO REPAIR, GARAGE
$810,000
Change: +50% · Conversion: Easy
RETAIL STORES
$675,000
Change: +25% · Conversion: Moderate
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$35 / 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
$6,826
Tax year 2023
Assessed value
$94,700
Assessed 2024
Previous assessed
$96,537
-1.9% YoY
Effective rate
7.21%
On assessed value
Assessed land
$19,274
Assessed improvement
$75,426
Land market value
$202,888
Improvement market value
$793,955
Total market value
$996,843
Applied tax rate
150.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
14,250 SF
Lot
1.03 ac (44,881 SF)
Zoning code
HI
APN
11049000100030
UPID
US95-0050916
Jurisdiction
LARAMIE
Zoning & alternative use
HI · Cheyenne, WY
Zoning HI · permitted uses
HI · 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
WAREHOUSE, STORAGE Current
Est. value
$540,000
AUTO REPAIR, GARAGE
Est. value
$810,000
RETAIL STORES
Est. value
$675,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Lexington Warehouse LLC
Entity
Mailing address
200 ALTA VIS RD, GRANITE CANON, WY 82059-4022
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2024
—
Lexington Warehouse LLC
George E Nickerson
Warranty Deed
$2,000,000 · Pinnacle Bank Wyoming
Dec 20, 2018
—
Remainder G & B N C Trust
—
Deed
related
—
Nov 21, 2016
—
Nickerson,george & Betsey Trust
—
Trustees Deed
related
$100,000 · Pinnacle Bk/wy
Jul 30, 2010
—
Nickerson,george Trust
—
Trustees Deed
related
$30,000 · Pinnacle Bank Wy
—
—
Remainder G & B N C Trust
—
Loan Modification
related
—
—
—
Nickerson,george Trust
—
Deed Of Trust
related
$85,000 · Pinnacle Bank 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.
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