Sign Up Successful!
You now have access to more from Realmo!
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

    369 Works St Sheridan, WY 82801-4337

    • Apartment buildings
    • 3,840 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0242265
    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 369 Works St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    3,840 SF
    Property type
    Apartment buildings
    APN
    03-5684-26-3-36-014-25
    APU
    356842633601425

    Description

    This exceptional investment opportunity presents a 9-unit apartment building located at 369 E Works St, Sheridan, Wyoming, 82801. The property, built in 1920, boasts 4,860 square feet on a 6,200 square foot lot and is zoned R3. Currently operating at 100% occupancy, this two-story building offers a compelling net lease investment with a strong NOI of $48,781, resulting in a 7.00% cap rate. The asking price is $715,000, translating to $79,444.44 per unit and $147.12 per square foot. Recent improvements include a new roof, sewer line, exterior paint, and a beautiful new wrap-around porch. Several units have also undergone remodeling. The property generates a gross scheduled income of $73,200. Operating expenses, including property taxes ($3,279), insurance ($2,909), utilities ($8,465), and maintenance ($2,500), total $17,153. The property's prime location near downtown Sheridan offers significant potential for future growth and appreciation. This is a turnkey investment ideal for those seeking a stable, high-occupancy multifamily asset. Financial data provided is based on available information and should be independently verified. The sale is structured as a 1031 exchange.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $242,000
      Market price range: $210k - $380k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $300,000
      Current use
      OFFICE BUILDING
      $335,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $305,000
      Change: +1% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $260,000
      Change: -15% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $250,000
      Change: -16% Conversion: Moderate
      WAREHOUSE, STORAGE
      $250,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sheridan
    County
    Sheridan
    State
    Wyoming
    Longitude
    -106.95
    Latitude
    44.7966
    CBSA code
    43260
    CBSA name
    SHERIDAN, 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
    2022
    $2,949
    $6,812
    $39,050
    $45,862
    -
    $71,700
    $411,052
    $482,752

    Comparable in this City

    • Value Estimation by Request
      9,120 SF

      10/20 Water St

      Multifamily properties • 9,120 SF
      10/20 Water St, Sheridan, WY 82801
      View Details
    • Value Estimation
      $225,000
      2,436 SF

      625 Lewis St

      APARTMENT HOUSE (5+ UNITS) • 2,436 SF
      625 Lewis St, Sheridan, WY 82801-3530
      View Details
    • Value Estimation
      $305,000
      3,372 SF

      403 Main St

      APARTMENT HOUSE (5+ UNITS) • 3,372 SF
      403 Main St, Sheridan, WY 82801-4854
      View Details
    • Value Estimation
      $290,000
      8,304 SF

      1349 Main St, Unit 101

      APARTMENT HOUSE (5+ UNITS) • 8,304 SF
      1349 Main St, Sheridan, WY 82801-2636
      View Details
    • Value Estimation
      $205,000
      7,270 SF

      140 Linden Ave, Unit 5

      APARTMENT HOUSE (5+ UNITS) • 7,270 SF
      140 Linden Ave, Sheridan, WY 82801-4174
      View Details
    • Value Estimation
      $260,000
      4,800 SF

      250 Thurmond St

      APARTMENT HOUSE (5+ UNITS) • 4,800 SF
      250 Thurmond St, Sheridan, WY 82801
      View Details

    Similar Nearby for Sale

    • $4,800,000
      101,000 SF

      Holly Sugar Factory Redevelopment

      Sheridan, WY mixed-use investment opportunity.
      1457 Coffeen Ave, Sheridan, WY 82801
      View Details
    • $354,000
      1,855 SF

      Historic Downtown Multi-Family Home

      Versatile home in central Sheridan, suitable for residential or business.
      672 Illinois St, Sheridan, WY 82801
      View Details
    • $2,500,000
      10.96 Acres

      Bender Commercial Park: Sheridan, WY

      10.96 Acres, Multi-Use Development
      1800 Bender Ln, Sheridan, WY 82801
      View Details
    • $1,250,000
      77.00 Acres

      Sheridan, WY Commercial Land

      77 acres, mountain views, buildable
      74-62 Pierce Rd, Sheridan, WY 82801
      View Details
    • $478,000
      2,352 SF

      Updated Home with Outdoor Living

      Five-bedroom home featuring updates, heated garage, and landscaped backyard.
      2164 Pima Dr, Sheridan, WY 82801
      View Details
    • $260,000

      Townhome with Fenced Backyard

      Three-bedroom townhome featuring a new roof, garage, and fenced yard.
      1629 Taylor Ave, Sheridan, WY 82801
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      83,867 SF

      1865 Coffeen Ave

      Individual retail properties • 83,867 SF
      1865 Coffeen Ave, Sheridan, WY 82801
      View Details
    • $10,000 /Mo
      7,100 SF

      Sheridan Executive Office Suite

      Executive office suite in the heart of Sheridan, Wyoming.
      4 S Main St, Sheridan, WY 82801
      View Details
    • $19 SF/Yr
      2,171 SF

      Retail Space in Anchored Center

      Retail space available in Albertson’s and Walmart anchored center.
      1865-1875 Coffeen Ave, Sheridan, WY 82801
      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.
    369 Works St
    Sheridan, WY 82801-4337
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.