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Property profile & analytics
FOR SALE
Strip malls
3501 E Lincolnway, Cheyenne, WY 82001
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US95-0016020
For Sale
1 / 8
$5,750,000
3501 E Lincolnway, Cheyenne, WY 82001
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1978
Total area
60,084 SF
Lot
5.14 ac (223,898 SF)
Zoning code
CB
APN
15332000100030
UPID
US95-0016020
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
-
Frontier Trampoline Park Arcade & Gaming Center Family Recreation Center
-
Quantum Car Wash - Wyoming - United States Car Wash
-
Big Lots Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.35M
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$2.44M
Owner & transaction history
Capital City Properties LLC · 11 yrs held
Capital City Properties LLC
since 2014
7 recorded transactions
Zoning & alternative use
CB · Cheyenne, WY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.9M
+43.4%
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%
$2,540,000
6.5%
$2,345,000
7%
$2,180,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,720,000
Current use
AUTO REPAIR, GARAGE
$3,900,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±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
$41 / 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
$29,592
Tax year 2023
Assessed value
$421,306
Assessed 2024
Previous assessed
$418,491
+0.7% YoY
Effective rate
7.02%
On assessed value
Assessed land
$97,658
Assessed improvement
$323,648
Land market value
$1,027,983
Improvement market value
$3,406,818
Total market value
$4,434,801
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
1978
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
60,084 SF
Lot
5.14 ac (223,898 SF)
Zoning code
CB
APN
15332000100030
UPID
US95-0016020
Jurisdiction
LARAMIE
Zoning & alternative use
CB · Cheyenne, WY
Zoning CB · permitted uses
CB · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
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
1978
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
5.14 ac
Current owner
From public records · entity-resolved
Capital City Properties LLC
Entity
Mailing address
PO BOX 2975, CHEYENNE, WY 82003-2975
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2021
—
Capital City Properties LLC
—
Deed
related
$3,050,000 · Pinnacle Bank
May 14, 2019
—
Capital City Properties LLC
—
Deed
related
$645,538 · Wyoming Bk&tr
Mar 25, 2019
—
Capital City Properties LLC
—
Deed
related
$1,491,578 · Wyoming Bk&tr
Apr 7, 2017
—
Capital City Properties LLC
—
Deed
related
$550,000 · Wyoming Bk&tr
Dec 18, 2014
—
Capital City Properties LLC
Glenn B Bailey
Warranty Deed
$1,500,000 · Wyoming State Bank
May 5, 2014
—
Bailey Family Trust
Cheyenne Rdf LLC
Warranty Deed
—
—
—
Capital City Properties LLC
—
Loan Modification
related
$645,538 · Wyoming Bk&tr
—
—
Capital City Properties LLC
—
Deed Of Trust
related
$1,491,578 · Wyoming Bk&tr
—
—
Capital City Properties LLC
—
Deed Of Trust
related
$550,000 · Wyoming Bk&tr
—
—
Capital City Properties LLC
—
Deed Of Trust
related
$1,400,000 · Wyoming Bk&tr
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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