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    3656 North Fork Hwy Cody, WY 82414
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    3656 North Fork Hwy, Cody, WY 82414

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    • Commercial land
    For Sale
    $1,750,000
    View Listing →
    Commercially Zoned Investment Property For Sale
    $1,750,000
    5.50 Acres

    Commercially Zoned Investment Property

    Renovated multi-family property near Cody with commercial land.

    3656 North Fork Hwy, Cody, WY 82414
    View Listing
    Property ID
    US95-0056817
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 3656 North Fork Hwy

    Year built
    1978
    Property type
    Commercial land
    Property subtype
    Short term rental properties

    Description

    Commercially zoned investment property with stunning 360 views. Located just 15 minutes outside of Cody and very close to the Buffalo Bill Reservoir for fishing and recreation. Just 45 minutes to Yellowstone National Park. All the units were recently renovated, featuring beautiful kitchens equipped with a refrigerator, range/oven, dishwasher, and microwave. 50-year roof, four newer water heaters (two electric and two propane) and a pressure tank. Septic inspected and permitted in 2023. Partial fencing behind each unit gives occupants a sense of privacy while maintaining views to the east. All the units are rented to long-term tenants with one-year leases. Unit #5 is set up as a studio with a full bath and is retained for owner use, but is designed to be connected to Unit #6 to create a large 2-bed/2.5 bath unit. The different unit floor plans would make an ideal short-term rental property! Vacant land is approved for commercial use with plenty of room to build an RV park, storage facilities, commercial business, residential home or rentals, or whatever you can dream up.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cody
    County
    Park
    State
    Wyoming
    Longitude
    -109.308134
    Latitude
    44.492572

    Comparable in this City

    • $1,750,000
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      Commercially Zoned Investment Property

      Renovated multi-family property near Cody with commercial land.
      3656 North Fork Hwy, Cody, WY 82414
      View Details
    • $545,000
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      Mixed-Use Investment Opportunity in Cody

      Versatile property with rental houses, shop, storage, and land.
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      Turnkey RV Park Near Yellowstone

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      50-Acre Property with Development Potential

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      Commercial Lot on Yellowstone Avenue

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    • $292,723
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      Commercial Lot on Yellowstone Avenue

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    Similar Nearby for Sale

    • $1,750,000
      5.50 Acres

      Commercially Zoned Investment Property

      Renovated multi-family property near Cody with commercial land.
      3656 North Fork Hwy, Cody, WY 82414
      View Details
    • $545,000
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      Mixed-Use Investment Opportunity in Cody

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      Turnkey RV Park Near Yellowstone

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      3256 N Fork Hwy, Cody, WY 82414
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    • $1,500,000
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      50-Acre Property with Development Potential

      Rare property ideal for multi-dwelling, rental, ranch, or development.
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    • $1,525,471
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      Commercial Lot on Yellowstone Avenue

      2.06 acre commercial lot on Yellowstone Avenue in Cody.
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      Commercial Lot on Yellowstone Avenue

      0.56 acre commercial lot in Cody, Wyoming for sale.
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    Cody, WY 82414
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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.

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