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1902 Avenue C - 307 Storage Solutions 45,000 SF Specialty Building Offered at $2,950,000 at a 7.40% Cap Rate in Cheyenne, WY 82007
Investment Highlights
- ±5 acres total
- fully leased warehouse
- City water & sewer
- 300-unit self-storage facility (~60% occupied)
- Rented single-family residence
- Lease-up and expansion upside
Executive Summary
1902 Ave C offers a diversified, income-producing investment with immediate cash flow and clear upside. The ±5-acre property includes a self-storage facility, two fully leased warehouses, and a rented single-family residence, providing stable in-place income with multiple value-add opportunities.
The self-storage component consists of 300 units situated on approximately 2.5 acres and is currently ~60% occupied, creating a straightforward path to increased NOI through lease-up. Additional expansion of storage units is possible on the remaining land, subject to buyer plans and approvals.
The balance of the site includes two fully leased warehouse buildings and a single-family home on the remaining 2.5 acres, contributing to strong day-one income. The property delivers an 8% cap rate as-is and is split-zoned Light Industrial (LI) and Mixed Use (MU). Located in the county of Cheyenne while utilizing City of Cheyenne South Side water and sewer, the site offers flexibility for continued operations or future development.
The self-storage component consists of 300 units situated on approximately 2.5 acres and is currently ~60% occupied, creating a straightforward path to increased NOI through lease-up. Additional expansion of storage units is possible on the remaining land, subject to buyer plans and approvals.
The balance of the site includes two fully leased warehouse buildings and a single-family home on the remaining 2.5 acres, contributing to strong day-one income. The property delivers an 8% cap rate as-is and is split-zoned Light Industrial (LI) and Mixed Use (MU). Located in the county of Cheyenne while utilizing City of Cheyenne South Side water and sewer, the site offers flexibility for continued operations or future development.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $2,950,000 | Building Class | B |
| Price Per SF | $65.56 | Lot Size | 5.00 AC |
| Sale Type | Investment or Owner User | Building Size | 45,000 SF |
| Cap Rate | 7.40% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2007 |
| Property Subtype | Self-Storage | ||
| Zoning | LI/MU - Light Industrial and Multi-Use | ||
| Price | $2,950,000 |
| Price Per SF | $65.56 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.40% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 5.00 AC |
| Building Size | 45,000 SF |
| No. Stories | 1 |
| Year Built | 2007 |
| Zoning | LI/MU - Light Industrial and Multi-Use |
Property Taxes
| Parcel Number | 1-9165-0016-0000-0 | Improvements Assessment | $94,173 |
| Land Assessment | $7,215 | Total Assessment | $101,388 |
Property Taxes
Parcel Number
1-9165-0016-0000-0
Land Assessment
$7,215
Improvements Assessment
$94,173
Total Assessment
$101,388
Contacts
-
Rob Graham -
Bailey Wheeler -
Jenna Tibbs -
Coldwell Banker - The Property Exchange, Inc.
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1902 Avenue C - 307 Storage Solutions
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