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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



Investment Highlights
- True TRIPLE NET LEASE, owner pays for very little expenses on this building. The two tenants take car of all exterior and interior maintenance, taxes
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 Type
- Lease End
- Aerocare Holdings Llc
- Management of Companies and Enterprises
- 4,000 SF
- $20.78
- Triple Net
- Dec 2030
- Some Like It Hot
- Services
- 3,856 SF
- $15.27
- Triple Net
- Dec 2035
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Aerocare Holdings Llc | Management of Companies and Enterprises | 4,000 SF | $20.78 | Triple Net | Dec 2030 | |
| Some Like It Hot | Services | 3,856 SF | $15.27 | Triple Net | Dec 2035 |
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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