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Own A Prime Income-generating Property On Sheridan Avenue 1057 Sheridan Avenue, Cody, WY 82414
Shopping Center - Restaurant
Property Description
Discover a rare investment opportunity in the heart of downtown Cody! This 11,762 sq. ft. commercial property is located on the bustling Sheridan Avenue strip and is currently leased to Millstone, a beloved local restaurant and brewery. The tenant brings in steady traffic year-round, ensuring consistent rental income for the owner.
Currently generating $12,500 per month in rent ($150,500 annually) on a 5 year term lease.
Highlights include:
- Total Building Area: 11,762 sq. ft.
- Lot Size: 14,000 sq. ft.
- Year Built: 1965
- Current Use: Restaurant/Brewery with a liquor license.
This high-visibility property boasts strong tenant retention, diverse revenue streams, and a cap rate of 6.00%, making it a standout investment for landlords seeking a turnkey asset in a sought-after location.
Please note, the sale includes real estate only and does not include the business, assets, or equipment.
Don’t miss your chance to own a piece of Cody’s thriving downtown—contact us today for more details!
Area Description
Located on bustling Sheridan Avenue, Cody’s vibrant downtown strip, this property is perfectly positioned to benefit from the city’s steady flow of local and tourist traffic. As the gateway to Yellowstone National Park, Cody attracts over 4 million visitors annually, providing unparalleled exposure for businesses in the area.
Downtown Cody is the heart of the community, known for its mix of unique shops, restaurants, and entertainment venues. This dynamic area draws a diverse audience, from year-round locals to adventure-seeking tourists. Sheridan Avenue’s high foot and vehicle traffic ensure consistent visibility and demand for commercial spaces.
The property is near key attractions like:
- Buffalo Bill Center of the West: A world-class museum complex celebrating Western heritage.
- Cody Rodeo Grounds: Known for hosting the nightly Cody Nite Rodeo and annual events that bring thousands of attendees.
- Yellowstone National Park: Just 52 miles away, making Cody a natural stop for park visitors.
Cody offers a business-friendly environment with robust community support and a growing economy fueled by tourism, agriculture, and outdoor recreation. With a blend of historical charm and modern amenities, downtown Cody is an unmatched location for any business or investment opportunity.
Invest in a property surrounded by everything that makes Cody a premier destination in the West!
Highlights
- Prime Location: Situated on Sheridan Avenue in downtown Cody, a high-traffic area with excellent visibility.
- Strong Tenant: Leased to Millstone, a popular local restaurant and brewery with a proven track record.
- Steady Income: Current rental income of $12,500/month ($150,000 annually).
- Long Term Rent: Lease renewal term in 2030, with incrimental rent increases scheduled each 5 years.
- Turnkey Investment: Hands-off landlord opportunity with a tenant highly likely to renew.
- Building Details: 11,762 sq. ft. building on a 14,000 sq. ft. lot, built in 1965.
- Permitted Use: Includes restaurant liquor license, adding versatility for tenant operations.
- Projected Cap Rate: Future cap rate of 6.53%.
- Tourist Appeal: Downtown Cody is the gateway to Yellowstone National Park, attracting over 4 million annual visitors.
Real estate only—business, equipment, and assets not included in the sale.
Contact us today to secure this exceptional investment opportunity!
Full Address: 1057 Sheridan Avenue, Cody, WY 82414
Listing Type: FOR SALE
Status: Active
Occupancy Rate: 100
Building Class: B
Region: W-WM
County: Park County
Closest Cross Streets: 11th Street
Use Type: Commercial
Property ID: 4062867
Has Sewer: Yes
Has Water: Yes
Has Electric: Yes
Has Waste: Yes
Heating: Yes
Cooling: Yes
Has Gas: Yes
Has Sprinkler: Yes
Building Construction: Block, Concrete
Roof: Membrane
Building Sf: 11762
Number Units: 1
Number Buildings: 1
Year Built: 1965
Free Standing: Yes
Cap Rate: 6
Tenancy Type: Single-Tenant
Real estate only—business, equipment, and assets not included in the sale. Contact us today to secure this exceptional investment opportunity!
Cash Flow Type: Actual
Cf Year: 2025
Cf Sched Income: 150500
1: MillstonePizza and Brewery Occupied: 7077 SF Lease Expiration: 3/1/2030