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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    501 Greeley Hwy Cheyenne, WY 82007-2851

    • Auto shops
    • 1,157 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Mar 27, 2023
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0022110
    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

    • The Tire Spot / Used Tire Shop / Wheel Store

    Property Details for 501 Greeley Hwy

    Year built
    1955
    Lot size
    0.34 lot acres
    Property size
    1,157 SF
    Zone code
    CB
    Property type
    Auto shops
    APN
    11079002000020
    APU
    11079002000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $345,000
      OFFICE BUILDING
      $235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.801
    Latitude
    41.113
    CBSA code
    16940
    CBSA name
    CHEYENNE, WY METROPOLITAN 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
    $459
    $4,021
    $2,107
    $6,128
    -
    $42,323
    $22,179
    $64,502

    Comparable in this City

    • Value Estimation
      $290,000
      2,813 SF

      611 Deming Dr

      AUTO REPAIR, GARAGE • 2,813 SF
      611 Deming Dr, Cheyenne, WY 82007
      View Details
    • Value Estimation
      $290,000
      5,492 SF

      807 Greeley Hwy

      AUTO REPAIR, GARAGE • 5,492 SF
      807 Greeley Hwy, Cheyenne, WY 82007-2845
      View Details
    • Value Estimation
      $290,000
      4,100 SF

      624 1st St

      AUTO REPAIR, GARAGE • 4,100 SF
      624 1st St, Cheyenne, WY 82007-1571
      View Details
    • Value Estimation
      $445,000
      15,080 SF

      2503 Fox Farm Rd

      AUTO REPAIR, GARAGE • 15,080 SF
      2503 Fox Farm Rd, Cheyenne, WY 82007-2540
      View Details
    • Value Estimation
      $545,000
      17,500 SF

      2830 Granite Peak Dr

      AUTO REPAIR, GARAGE • 17,500 SF
      2830 Granite Peak Dr, Cheyenne, WY 82007-3800
      View Details
    • Value Estimation
      $285,000
      8,800 SF

      6335 Clear Crk Pkwy

      AUTO REPAIR, GARAGE • 8,800 SF
      6335 Clear Crk Pkwy, Cheyenne, WY 82007-1925
      View Details

    Similar Nearby for Sale

    • $220,000
      2,336 SF

      Autobody Shop on College Drive

      Commercial opportunity on Cheyenne's bustling College Drive.
      512 W College Dr, Cheyenne, WY 82007
      View Details
    • $2,990,900
      1,500 SF

      High-Traffic Corner Lot with Home

      5.75-acre commercial property with shop, office, and brick home.
      1216 S Greeley Hwy, Cheyenne, WY 82007
      View Details
    • $1,005,171
      0.52 Acres

      Commercial Land Ready for Development

      Shovel-ready commercial lots with drive-thru potential in Cheyenne, Wyoming.
      1 Sweetgrass Dr, Cheyenne, WY 82007
      View Details
    • $338,808
      0.97 Acres

      Cheyenne Commercial Land Ready

      Shovel-ready commercial land with drive-thru potential in Cheyenne, Wyoming.
      2 Murray Rd, Cheyenne, WY 82007
      View Details
    • $312,872
      0.90 Acres

      Cheyenne Commercial Land Ready

      Shovel-ready commercial land with drive-thru potential in Cheyenne, Wyoming.
      2 Murray Rd, Cheyenne, WY 82007
      View Details
    • $2,500,000
      35.13 Acres

      Cheyenne Land: Prime Development Site

      35-acre lot, ideal for mixed-use development
      853 Pontillo Dr, Cheyenne, WY 82007
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      15,378 SF

      Cheyenne Industrial Space Available

      15,378 SF Multi-Use Industrial Space
      314 Evelyn St, Cheyenne, WY 82007
      View Details
    • Contact for pricing
      35,000 SF

      Power Park Industrial Land Tracts

      Five-acre industrial tracts for lease.
      5110 Badlands Dr, Cheyenne, WY 82007
      View Details
    • $17 SF/Yr
      20,000 SF

      Cheyenne Industrial Space Available

      9,509 SF Flex Warehouse, Prime Location
      2521 Granite Peak Dr, Cheyenne, WY 82007
      View Details
    • $10 SF/Yr
      6,237 SF

      Cheyenne Warehouse in Emerging Corridor

      6,237 SF warehouse in revitalizing Cheyenne's Reed Avenue Corridor.
      2222 Bent Ave, Cheyenne, WY 82007
      View Details
    • Contact for pricing
      4,500 SF

      Cheyenne Office Spaces For Lease

      Three office spaces available, can be combined or leased separately.
      1775 Goodnight Trl, Cheyenne, WY 82007
      View Details
    • New
      Contact for pricing
      5,210 SF

      Cheyenne Commercial Warehouse and Office Space

      Class-A commercial warehouse and office space with convenient interstate access.
      8610 Trucker Trl, Cheyenne, WY 82007
      View Details
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    501 Greeley Hwy
    Cheyenne, WY 82007-2851
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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.

    More about this property
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