Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3229 Randy Rd Cheyenne, WY 82001-6184

    • Apartment buildings
    • 14,220 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0209757
    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

    • Apartment buildings

    Property Details for 3229 Randy Rd

    Year built
    2018
    Construction
    FRAME
    Lot size
    0.55 lot acres
    Property size
    14,220 SF
    Property type
    Apartment buildings
    APN
    18205000100020
    APU
    18205000100020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $949,000
      Market price range: $949k - $1.78M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,370,000
      Current use
      OFFICE BUILDING
      $1,695,000
      Change: +24% Conversion: Moderate
      RETAIL STORES
      $1,465,000
      Change: +7% Conversion: Difficult
      RESTAURANT
      $1,430,000
      Change: +4% Conversion: Difficult
      MEDICAL BUILDING
      $1,415,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,205,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.77
    Latitude
    41.1408
    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
    $5,079
    $7,978
    $60,789
    $68,767
    -
    $83,975
    $639,889
    $723,864

    Comparable in this City

    • Value Estimation by Request
      4,236 SF

      922 18th St

      APARTMENT HOUSE (5+ UNITS) • 4,236 SF
      922 18th St, Cheyenne, WY 82001-4210
      View Details
    • Value Estimation by Request
      3,656 SF

      512 21st St

      APARTMENT HOUSE (5+ UNITS) • 3,656 SF
      512 21st St, Cheyenne, WY 82001-3862
      View Details
    • Value Estimation by Request
      2,958 SF

      115 29th St

      APARTMENT HOUSE (5+ UNITS) • 2,958 SF
      115 29th St, Cheyenne, WY 82001-2849
      View Details
    • Value Estimation
      $1,290,000
      16,758 SF

      301 21st St

      APARTMENT HOUSE (5+ UNITS) • 16,758 SF
      301 21st St, Cheyenne, WY 82001-3761
      View Details
    • Value Estimation by Request
      2,958 SF

      109 29th St

      APARTMENT HOUSE (5+ UNITS) • 2,958 SF
      109 29th St, Cheyenne, WY 82001-2850
      View Details
    • Value Estimation
      $560,000
      7,160 SF

      912 Country Clb Ave

      APARTMENT HOUSE (5+ UNITS) • 7,160 SF
      912 Country Clb Ave, Cheyenne, WY 82001-1100
      View Details

    Similar Nearby for Sale

    • $315,000
      0.18 Acres

      Cheyenne Duplex: Investment Opportunity

      Well-maintained duplex near amenities and FE Warren Air Force Base.
      3205 Reed Ave, Cheyenne, WY 82001
      View Details
    • $449,000
      0.11 Acres

      Cheyenne Triplex: Investment Opportunity

      Two-story triplex in Cheyenne, WY, offering investment potential.
      1841 Crook Ave, Cheyenne, WY 82001
      View Details
    • $365,000
      0.15 Acres

      Updated Duplex in Cheyenne, Wyoming

      Move-in ready duplex with modern updates and individual laundry units.
      2119 E 11Th St, Cheyenne, WY 82001
      View Details
    • $1,360,000
      21,307 SF

      Cheyenne Mixed-Use Opportunity

      21,307 SF mixed-use building with high visibility and parking.
      3120 Old Faithful Rd, Cheyenne, WY 82001
      View Details
    • $300,000
      0.09 Acres

      Charming Duplex with Modern Updates

      Updated duplex with rental potential in Cheyenne, Wyoming.
      2013 Dunn Ave, Cheyenne, WY 82001
      View Details
    • $339,900
      0.14 Acres

      Cheyenne Duplex Near Blue FCU

      Well-maintained duplex in Cheyenne, near Blue FCU headquarters.
      2111 Garrett St, Cheyenne, WY 82001
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,087 SF

      Cheyenne Office Space For Rent

      Office space available for lease in Cheyenne, Wyoming.
      1013 E Lincolnway, Cheyenne, WY 82001
      View Details
    • 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
    • New
      Contact for pricing
      25,000 SF

      Health & Wellness Suite in Gym

      Private suite with gym access for health and wellness professionals.
      1612 E Pershing Blvd, Cheyenne, WY 82001
      View Details
    • $10 SF/Yr
      6,300 SF

      Cheyenne Retail Space Available

      6,300 SF retail space for lease in Cheyenne, Wyoming.
      2624 Old Happy Jack Rd, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      12,000 SF

      Cheyenne Warehouse with Secured Area

      12,000 SF warehouse with office space and secured fenced area.
      2530 Old Happy Jack Rd, Cheyenne, WY 82001
      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.
    3229 Randy Rd
    Cheyenne, WY 82001-6184
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!