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

    624 Cheyenne Dr Ste, Unit 7 Evanston, WY 82930-5517

    • Strip malls
    • 5,720 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0161483
    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

    • Strip malls

    Property Details for 624 Cheyenne Dr Ste

    Year built
    1987
    Lot size
    0.07 lot acres
    Property size
    5,720 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    15202044500300
    APU
    15202044500300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $160,000
      Market price range: $159k - $511k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $320,000
      Current use
      MEDICAL BUILDING
      $425,000
      Change: +32% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $415,000
      Change: +30% Conversion: Difficult
      WAREHOUSE, STORAGE
      $280,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Uinta
    State
    Wyoming
    Longitude
    -110.969
    Latitude
    41.2573
    CBSA code
    21740
    CBSA name
    EVANSTON, 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
    $982
    $4,391
    $10,035
    $14,426
    -
    $46,219
    $105,633
    $151,852

    Comparable in this City

    • Value Estimation
      $255,000
      2,040 SF

      624 Cheyenne Dr Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER • 2,040 SF
      624 Cheyenne Dr Ste, Evanston, WY 82930-5517
      View Details
    • Value Estimation
      $250,000
      4,800 SF

      811 19th St

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      811 19th St, Evanston, WY 82930-3828
      View Details
    • Value Estimation
      $835,000
      51,569 SF

      524 Frnt St

      SHOPPING CENTER, STRIP CENTER • 51,569 SF
      524 Frnt St, Evanston, WY 82930-3577
      View Details
    • Value Estimation
      $230,000
      2,386 SF

      624 Cheyenne Dr Ste, Unit 3

      SHOPPING CENTER, STRIP CENTER • 2,386 SF
      624 Cheyenne Dr Ste, Evanston, WY 82930-5517
      View Details
    • Value Estimation
      $205,000
      2,040 SF

      624 Cheyenne Dr Ste, Unit 6

      SHOPPING CENTER, STRIP CENTER • 2,040 SF
      624 Cheyenne Dr Ste, Evanston, WY 82930-5517
      View Details
    • Value Estimation
      $225,000
      4,800 SF

      624 Cheyenne Dr Ste, Unit 8

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      624 Cheyenne Dr Ste, Evanston, WY 82930-5517
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,161 SF

      Evanston Mixed-Use Investment Opportunity

      Historic Downtown Evanston building, 6,161 SF, renovated 2011
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      Remodeled Industrial Buildings with Showroom

      Remodeled industrial buildings with showroom, heated shop, and fenced yard.
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    • $333,000
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      Evanston Restaurant - Hwy 89

      Turnkey Restaurant, High Visibility, Hwy 89
      7436 State Highway 89, Evanston, WY 82930
      View Details
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      19,485 SF

      Historic Evanston Mixed-Use Building

      Prime Old Town Evanston location, 19,485 SF, Owner/User.
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      4,144 SF

      Evanston Commercial Building Opportunity

      Prime Evanston location, 4,144 sq ft.
      1037 Main St, Evanston, WY 82930
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      1,500 SF

      Functional Warehouse with Office Space

      1,500 SF warehouse with office, fenced yard, I-80 access.
      91 Allegiance Cir, Evanston, WY 82930
      View Details
    • Contact for pricing
      129,120 SF

      Evanston Industrial: 129,120 SF Flex

      Three-building flex space; 129,120 SF available.
      1000 Cheyenne Dr, Evanston, WY 82930
      View Details
    • $4 SF/Yr
      14,650 SF

      Evanston Warehouse: 14,650 SF

      Large Uinta County warehouse available. Ideal for single tenant.
      106 Meadow Dr, Evanston, WY 82930
      View Details
    • $0.20 SF/Yr

      Industrial Land For Lease

      Up to 5.24 AC industrial land for lease.
      4137 State Highway 150 S, Evanston, WY 82930
      View Details
    • $0.20 SF/Yr
      228,254 SF

      Evanston Industrial Land - Divisible

      5.24 acres, flexible industrial space.
      4137 Wy-150, Evanston, WY 82930
      View Details
    • $7 SF/Yr
      2,600 SF

      Evanston Industrial Building with Yard

      2,600 SF industrial building with ample yard space.
      4145 State Highway 150, Evanston, WY 82930
      View Details
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    Evanston, WY 82930-5517
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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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