308 2Nd StLaramie, WY 82070

Property Details for 308 2Nd St

Year built

1930

Lot size

0.15 AC

Property size (Sq ft)

9,629 SF

Property type

Investment properties

Property subtype

Live-work space

APN

16733331800300

APU

16733331800300

Description

This exceptional mixed-use property, located at 308 S 2nd St in Laramie, Wyoming, presents a unique investment opportunity. The 15,739 square foot building, constructed in 1930 and meticulously restored, boasts a blend of historic charm and modern amenities. The two-story structure features a ground floor retail space currently operating a successful home furnishings and decor business, established as a local landmark. The upper floor comprises three separately rentable vacation units, consistently generating income through platforms like VRBO, with capacities ranging from four to ten guests. The property sits on a 0.15-acre lot and is zoned DC. The building's features include original hardwood floors, original light switches, and a sleek black garage storefront door. Its central downtown location in Laramie, Wyoming, benefits from high foot traffic and proximity to the University of Wyoming, offering a strong tenant base and tourism potential. The property's current 100% occupancy and 5.00% cap rate demonstrate its strong financial performance. This owner-user investment opportunity offers a compelling combination of established income streams and significant upside potential. The existing business is available for sale separately. Laramie's strategic location near Cheyenne, Fort Collins, and Denver provides easy access to major urban centers. The property's blend of retail and residential components makes it an ideal investment for those seeking a diversified portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,190,312

  6.5%

  $2,021,827

  7%

  $1,877,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,410,981

  Geo Method

  $795,548

• Alternative Use

  Use

  Valuation

  Residential

  $2,507,065

  Hospitality

  $2,296,458

  Educational

  $1,910,626

  Medical

  $1,976,336

  Retail

  $2,972,085

Location Insight

City

Laramie

County

Albany

State

Wyoming

Latitude

41.3107

Longitude

-105.595

CBSA code

29660

CBSA name

LARAMIE, WY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].