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1900 Converse Ave 7,856 SF 100% Leased Retail Building Cheyenne, WY 82001 $1,999,900 ($254.57/SF) 7.21% Cap Rate
Executive Summary
Introducing an exceptional investment opportunity at 1900 Converse Ave in Cheyenne, Wyoming! This prime commercial property boasts over 7,200 square feet of well-maintained space and is strategically located with high visibility near the VA Hospital, attracting over 17,000 vehicles daily. The building currently houses two long-term tenants generating a robust annual rental income exceeding $144K under NNN leases. One tenant is secured with a 5-year lease while the other enjoys a longer commitment of 10 years— providing stability and peace of mind for any investor. Key features include: - A large parking lot accommodating over 37 vehicles - Major electrical power service infrastructure to support diverse business needs - A new rooftop unit ensuring efficient climate control. This listing presents a unique chance to acquire a substantial commercial asset with established tenants already in place. The building is offered for sale as-is, providing an excellent foundation for future growth in a desirable location. Don’t miss out on this remarkable investment opportunity!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$144,215
|
$19.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$144,215
|
$19.92
|
| Taxes |
$5,670
|
$0.78
|
| Operating Expenses |
$5,000
|
$0.69
|
| Total Expenses |
$10,670
|
$1.47
|
| Net Operating Income |
$133,545
|
$18.45
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $144,215 |
| Annual Per SF | $19.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $144,215 |
| Annual Per SF | $19.92 |
| Taxes | |
|---|---|
| Annual | $5,670 |
| Annual Per SF | $0.78 |
| Operating Expenses | |
|---|---|
| Annual | $5,000 |
| Annual Per SF | $0.69 |
| Total Expenses | |
|---|---|
| Annual | $10,670 |
| Annual Per SF | $1.47 |
| Net Operating Income | |
|---|---|
| Annual | $133,545 |
| Annual Per SF | $18.45 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,856 SF
Building Class
C
Year Built
1995
Price
$1,999,900
Price Per SF
$254.57
Cap Rate
7.21%
NOI
$144,215
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
0.94 AC
Zoning
COMM BUSN - MUB - Mixed Use Business
Parking
25 Spaces (3.18 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Aerocare Holdings Llc
- Management of Companies and Enterprises
- -
- -
- -
- Some Like It Hot
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Aerocare Holdings Llc | Management of Companies and Enterprises | - | - | - | ||
| Some Like It Hot | Services | - | - | - |
Fairly walkable
50/100
Moderately drivable
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1-7888-0001-0001-2 | Total Assessment | $80,370 |
| Land Assessment | $13,094 | Annual Taxes | $5,670 ($0.72/SF) |
| Improvements Assessment | $67,276 | Tax Year | 2025 |
Property Taxes
Parcel Number
1-7888-0001-0001-2
Land Assessment
$13,094
Improvements Assessment
$67,276
Total Assessment
$80,370
Annual Taxes
$5,670 ($0.72/SF)
Tax Year
2025
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1900 Converse Ave
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