2126 Douglas HwyGillette, WY 82718

Property Details for 2126 Douglas Hwy

Year built

1993

Lot size

0.38 AC

Property size (Sq ft)

1,239 SF

Property type

Turn key restaurants

APN

R0025827

APU

R0025827

Description

This exceptional investment opportunity presents a fee-simple interest (land and building) in a freestanding Papa Murphy's in Gillette, Wyoming. The 1,160 square foot building, constructed in 1993, sits on a 0.38-acre lot with 24 parking spaces. Currently 100% occupied, the property boasts a strong NOI of $55,331 and a 6.32% cap rate, with an asking price of $876,000. The existing lease with Papa Murphy's, a major take-and-bake pizza chain, extends until June 30, 2027, providing a remaining term of 2.6 years. The property also benefits from an ATM operated by Security State Bank, adding to the income stream. This prime location on Douglas Highway (28,000 vehicles per day) enjoys high visibility and benefits from its proximity to major national retailers, including Hobby Lobby, Harbor Freight, Walmart Supercenter, Albertsons, Home Depot, and Boot Barn. Its adjacency to Interstate 90 further enhances its accessibility and appeal. Papa Murphy's has operated at this location since 1997, demonstrating a long-standing presence and commitment to the area. This property offers a passive investor an excellent opportunity to acquire a well-established, diversified income-producing asset in a pro-business state. The property is located in Campbell County, Wyoming, zip code 82718.

• CAP approach

  CAP return

  Valuation

  6%

  $414,938

  6.5%

  $383,020

  7%

  $355,661

• Comparable approach

  Method

  Valuation

  Relative Method

  $782,949

  Geo Method

  $257,963

• Alternative Use

  Use

  Valuation

  Residential

  $323,091

  Hospitality

  $295,950

  Educational

  $246,227

  Medical

  $254,695

  Retail

  $383,020

Location Insight

City

Gillette

County

Campbell

State

Wyoming

Latitude

44.2753

Longitude

-105.495

CBSA code

23940

CBSA name

GILLETTE, WY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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