Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    501 E Lakeway Rd Gillette, WY 82718
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    501 E Lakeway Rd Gillette, WY 82718

    View on Map
    • Drug stores
    • 7,800 SF
    • 0.46 lot acres
    For Lease
    View Listing →
    COMMERCIAL - Gillette, WY For Lease
    Contact for pricing

    COMMERCIAL - Gillette, WY

    7,800 sq ft commercial space for lease in Gillette, WY.

    501 E Lakeway Rd, Gillette, WY 82718
    View Listing
    Property ID
    US95-0067207
    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

    • Synergy Dental Center / Dental Office
    • Susan M. Hooker, RPh / Pharmacy
    • Jacob E. Belyeu Sr, CMT / Alternative Medicine Practice / Spa & Massage Center
    • CARE Esthetics / Spa & Massage Center / Alternative Medicine Practice

    Property Details for 501 E Lakeway Rd

    Year built
    1983
    Lot size
    0.46 lot acres
    Property size
    7,800 SF
    Property type
    Drug stores
    APN
    R0001793
    APU
    R0001793

    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
    Gillette
    County
    Campbell
    State
    Wyoming
    Longitude
    -105.497
    Latitude
    44.2693
    CBSA code
    23940
    CBSA name
    GILLETTE, 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
    2023
    $3,973
    $11,389
    $45,075
    $56,464
    -
    $119,880
    $474,474
    $594,354

    Comparable in this City

    • Value Estimation
      $1,640,000
      14,588 SF

      2000 Douglas Hwy

      DRUG STORE, PHARMACY • 14,588 SF
      2000 Douglas Hwy, Gillette, WY 82718-5414
      View Details
    • Value Estimation by Request
      1,250 SF

      1103 Boxelder Rd Ste M

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      1103 Boxelder Rd Ste M, Gillette, WY 82718-5582
      View Details
    • Value Estimation by Request
      3,840 SF

      102 Lakeway Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,840 SF
      102 Lakeway Rd, Gillette, WY 82718-6331
      View Details
    • Value Estimation by Request
      5,000 SF

      1103 Boxelder Rd Ste Q

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1103 Boxelder Rd Ste Q, Gillette, WY 82718-5582
      View Details
    • Value Estimation by Request
      3,600 SF

      2806 Dogwood Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      2806 Dogwood Ave, Gillette, WY 82718-2012
      View Details
    • Value Estimation by Request
      2,250 SF

      2814 Dogwood Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      2814 Dogwood Ave, Gillette, WY 82718-2001
      View Details

    Similar Nearby for Sale

    • $720,000
      3,600 SF

      Modern Commercial Space in Gillette

      New commercial space in high-traffic Gillette location, build to suite.
      560 Running Dr, Gillette, WY 82718
      View Details
    • $1,100,000
      2.98 Acres

      Gillette Commercial Gem with Residence

      2.98-acre commercial property with income potential and residential convenience.
      370 State Highway 50, Gillette, WY 82718
      View Details
    • $720,000
      3,600 SF

      Commercial Space in High-Traffic Location

      Modern commercial space in a densely populated area of Gillette.
      560 Running Dr, Gillette, WY 82718
      View Details
    • $696,960
      1.00 Acre

      Commercial Land Near High-Traffic Intersection

      Commercial property with high visibility and access for new businesses.
      1137 Boxelder Rd E, Gillette, WY 82718
      View Details
    • $85,000
      0.25 Acres

      Gillette, WY Golf Course Lot

      Golf course lot with city utilities, ready for building.
      166 Royal Cir, Gillette, WY 82718
      View Details
    • $129,900
      0.18 Acres

      Golf Course Frontage Land

      Residential land with golf course views in Gillette, Wyoming.
      82 Royal Cir, Gillette, WY 82718
      View Details
    View Listing
    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.
    501 E Lakeway Rd
    Gillette, WY 82718
    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!