1057 Sheridan Ave, Cody, Wyoming

MLS ID: 10030843

Status: Active

Price: $2,250,000

Acres: 0.32±

Address: 1057 Sheridan Ave

City, State: Cody, WY

County: Park County

ZIP Code: 82414

Lat/Long: 44.526402, -109.066278

Description

Prime commercial property located on downtown Cody's bustling Sheridan Avenue, offering an exceptional investment opportunity. This iconic property is currently leased to Millstone, a well-loved local restaurant that attracts year-round patrons with its vibrant atmosphere. Currently generating $11,139/month in rent, equating to $133,673 annually, the lease is set to renew by 3/1/25. A proposed new lease offers increased annual rental income of $164,000 to $169,000 over a 5-year term, with the tenant highly likely to renew. Situated in a high-traffic downtown location with consistent demand, this property offers investors a steady income-producing asset. With a projected future cap rate of 6.53%, this is your chance to own a piece of prime real estate in one of Cody's most sought-after commercial areas. Don’t let this opportunity pass you by! Business is not for sale. Does not include business assets, equipment, furniture, fixtures, arcade game, kitchen supplies or other restaurant and bar related assets.

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Listed By: Brenton Hayden of Re/max Elevation