4505 Rdg Rd Cheyenne, WY 82001-1786

Property Details for 4505 Rdg Rd

Year built

2016

Lot size

1.53 lot acres

Property size

6,350 SF

Property type

Grocery and convenience stores

APN

15093000100010

APU

15093000100010

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly remodeled Maverik convenience store and gas station in Cheyenne, Wyoming. Located at the highly visible, signalized intersection of Ridge Road and Dell Range Boulevard, this property boasts 6,350 square feet on a 1.53-acre lot and features 16 fuel pumps. The property benefits from a strong corporate guarantee from Maverik, a leading convenience store operator with over 800 locations. The current absolute NNN lease commenced on December 31, 2015, and has a remaining term of 11.1 years, extending to December 31, 2035, with four 5-year renewal options, each including a 7.5% rent increase. The lease also includes 7.5% rent bumps every five years throughout the base term and option periods. Built in 2016 and recently renovated in 2024, this Class A property generates a substantial net operating income (NOI) of $286,373, representing a 5.00% cap rate on the asking price of $5,730,000. The property enjoys 100% occupancy and benefits from its proximity to other national brands like McDonald's, Chick-fil-A, Panera Bread, and Sonic. This is a hands-off investment with zero landlord responsibilities, further enhanced by the potential for 60% bonus depreciation if the sale closes by year-end. Wyoming's favorable tax environment, with no state income tax, adds to the investment's appeal. This is a rare opportunity to acquire a high-performing, well-located convenience store and gas station with a long-term lease and significant upside potential.

Location Insight

City

Cheyenne

County

Laramie

State

Wyoming

Longitude

-104.768

Latitude

41.1595

CBSA code

16940

CBSA name

CHEYENNE, WY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments