COMMERCIAL PROPERTIES 550 N. POPLAR STREET CASPER, WY (307) E 2ND ST CASPER, WY $399,000 BROKER1REALESTATE.

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1 COMMERCIAL PROPERTIES 550 N. POPLAR STREET CASPER, WY (307) E 2ND ST CASPER, WY $399,000

2 S GRANT AVE S LINCOLN ST TABLE OF CONTENTS E COLLINS DR SUBJECT E 2ND ST E 3RD ST EXECUTIVE SUMMARY 3 CITY AERIALS 4 CITY AERIAL 4 PROPERTY LOCATION 5 PROPERTY 6 PROPERTY FEATURES 7 SUBJECT AREA 7 SITE DATA 7 DESCRIPTION OF IMPROVEMENTS 7 ENVIRONMENTAL 10 PURCHASE PRICE 10 PROPERTY PHOTOS 11 REGIONAL SERVICE CENTER 16 CASPER 16 WYOMING 17 CASPER MAPS 18 DRIVE TIME 18 SIGNIFICANT RETAIL 19 DINING 20 BROKER ONE COMMERCIAL TEAM 21 RANDALL S. HALL, CCIM 22 DENNIS BAKER, ASSOCIATE BROKER 22 CHUCK HAWLEY, SALES & LEASING 22 FORREST LEFF, ASSOCIATE BROKER 22 2

3 S GRANT AVE S LINCOLN ST EXECUTIVE SUMMARY Centrally Located Multi-Tenant Mixed-Use Building Now Available for Sale! BrokerOne Real Estate is pleased to offer for sale the property located at 725 E. 2nd St. E COLLINS DR Originally constructed in 1900 as the Historic Conwell House, the building has been converted into 3 units: a garden level apartment (±1,148 SF), main floor office space (±1,268 SF), and a second floor apartment (±860 SF). The two apartments are currently income producing. With appropriate financing, the rents on the property could cover the debt service. SUBJECT E 2ND ST The entire structure has been recently renovated to include new sewer lines, new commercial wiring, new furnace with central air (garden level and main floor), new on-demand water heater, new roof, and much more. E 3RD ST The property also contains two (2) additional masonryblock buildings: a 14 x60 structure, primarily used as storage, and a 42 x30 garage. ADDRESS 725 E 2ND ST TOTAL LAND AREA ±0.19 ACRES LOCATION NATRONA COUNTY YEAR BUILT 1900 TOTAL BUILDING AREA ±3,276 SQ. FT. OFFERED PRICE $399,000 3

4 S GRANT AVE S LINCOLN ST CITY AERIAL E COLLINS DR E 2ND ST SUBJECT E 3RD ST SUBJECT 4

5 S CENTER ST S CENTER ST S PARK ST S JEFFERSON ST S CONWELL ST S BEVERLY ST N BEVERLY ST PROPERTY E C ST E A ST E YELLOWSTONE HWY E A ST E 1ST ST E 1ST ST E 2ND ST E 2ND ST SUBJECT W MIDWEST DR E 5TH ST W COLLINS DR 5

6 PROPERTY LOCATION S BEECH ST S BEECH ST S KIMBALL ST S PARK ST S GRANT AVE S LINCOLN ST S JACKSON ST E A ST E YELLOWSTONE HWY E 1ST ST E 1ST ST E 2ND ST SUBJECT E 2ND ST E 3RD ST 6

7 PROPERTY FEATURES SUBJECT AREA The property is located on East 2nd Street, the main traffic corridor through the City of Casper, and is situated in close proximity to the Central Business District (CBD). East 2nd Street is 4-lane, with a center turn lane, for much of its length. The site is approximately 1 mile from I-25, via North Center Street. The surrounding land uses include an independent quick service restaurant, a do-it-yourself painting and sculpting studio, a funeral home, and various other commercial and retail businesses. SITE DATA The rectangular site is ±0.19 acres (±8,400 SF) and currently zoned C2: General Business. The topography of the subject property is near level and elevated a few feet above street grade. According to FEMA Flood Map #56025C2002E, dated 5/18/2015, the parcel is not in a flood zone. While the property has frontage and foot-traffic access along East 2nd Street, vehicular access is via an alley along the rear of the property, accessible from either S. Grant Ave. to the west or S. Lincoln St. to the east. The site has all utilities, including water and sewer, electric power, natural gas, phone, cable, and internet service. REAL PROPERTY TAXES FOR THE YEAR: 2016 PARCEL ID DESCRIPTION TOTAL LAND AREA TOTAL BUILDING AREA ESTIMATED TOTAL TAX CASPER BLK 130 LOT 3 COMM. 8,400 SQ FT 3,276 SQ FT $2, DESCRIPTION OF IMPROVEMENTS ±0.19 Acre Site with 3 Buildings ±860 SF Second Floor Apartment ±1,268 SF Main Floor Office Space ±1,148 SF Garden Level Apartment 7

8 PROPERTY FEATURES DESCRIPTION OF IMPROVEMENTS Continued 14 x60 Masonry-Block Storage Building Gutter System on Main Structure New Roof on Main Structure & Garage New Security System New On-Demand Water Heater Upgraded Commercial Wiring Updated Phone System Newly Installed Exterior Lighting Network Cable Throughout Repainted Exterior MAIN STRUCTURE: The building was originally constructed in 1900 as a single-family home, but has since been converted into a ±3,276 SF multi-tenant, mixed-use structure. Since 2011, the entire structure has been renovated. Changes include: new commercial wiring throughout, new furnace with central air for garden level and main floor, new on-demand water heater, new outside lighting, new roof on main structure and garage, the addition of a gutter system, new Comtronix security system, the addition of an extension with stained concrete floor on main structure, new phone system, new network cabling, new front door, and exterior repainting. GARDEN LEVEL APARTMENT: The ±1,148 SF garden level is being utilized as a 2 bedroom, 2 bathroom rental unit. The current tenant is paying $1, per month, including $ for an enclosed parking space in the rear garage. The rent includes all utilities. The unit is accessed via a private stairwell off the back porch. This space has also received extensive upgrades in the last few years. The floors were dug out to increase the ceiling height to 7-ft. and, at that time, a new sewer line for the structure was installed. The kitchen was remodeled and new cross member supports and egress windows were installed. 8

9 PROPERTY FEATURES DESCRIPTION OF IMPROVEMENTS: MAIN STRUCTURE Continued MAIN FLOOR OFFICE SPACE: The ±1,268 SF main floor has been utilized as a real estate and legal office. While previously owner-occupied, the unit has an approximate rental value of $1, per month. The recent renovations on this level have been extensive. The insulation on all exterior walls was upgraded after the lathe and plaster was removed and replaced with new insulation, wallboard, texture and paint, and oak trim. The carpeted floors were upgraded to hardwood. The kitchen was remodeled with a new tile floor, Corian countertops, new walls and ceiling, reinforced ceiling cross members, newer appliances, and new paint on the updated walls. New windows were installed in the sunroom and the first floor bathroom and an office were repainted. SECOND FLOOR APARTMENT: The second floor is an ±860 SF rental unit with 2 bedrooms and 1 bathroom. The current tenant Is paying $ per month, including utilities. The renovations on this level include: walls and doors necessary to make it a separate office or residence, texture and painted all walls, replaced hallway carpet with hardwoods, five (5) new windows plus one (1) new attic window, remodeled bathroom into new bath and kitchen with new appliances, new furnace with air conditioning, and new attic access with drop-down ladder. STRUCTURE #2: This 14 x60 masonry-block building, constructed in 1952, sits east of the main structure. It is currently being utilized as storage. However, with the recent addition of electrical and network wiring, as well as water and sewer lines, the building has the potential to be remodeled into an office space or studio apartment. 9

10 PROPERTY FEATURES DESCRIPTION OF IMPROVEMENTS Continued STRUCTURE #3: Built in 1976, this 42 x30 masonry-block building currently provides enclosed parking for two (2) vehicles. The current owner commissioned design plans to expand the north exterior wall which would allow for an additional 3-4 covered parking spaces. EXTERIOR: The grounds and exterior of the building were also renovated and upgraded. A new concrete pad, with parking for 3 vehicles, was installed. Additional concrete was poured on the east side of the main structure to allow for a patio and negative drainage. The sidewalks on the front and east side of the main structure were replaced and a sidewalk was added to the west side of the structure to create front-door access via the alley. The addition of the new sidewalk included putting gutter downspouts into the ground and installing French tile drainage. The yard was fenced and locked gates added. A new automatic sprinkler system was installed. Other aesthetic changes were made, including lattice work around the bottom of porch, changing the mailbox from a yard box to a slot in the front door, and new railings on front steps. ENVIRONMENTAL No representation is made nor implied by BrokerOne Real Estate as to the presence, at any location on the property, of any known hazardous material as defined by the United States Environmental Protection Agency or the Wyoming Department of Environmental Quality. A prospective purchaser should retain the services of independent professionals qualified to render opinions and/or determinations as to the presence of hazardous materials. PURCHASE PRICE The offered price is $399,000. The seller is licensed to practice real estate in the State of Wyoming. The information contained herein has been obtained from sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. 10

11 PROPERTY PHOTOS FRONT VIEW FRONT VIEW W/ADDITIONAL STORAGE BUILDING EXISTING MONUMENT SIGN MAIN LEVEL OFFICE SPACE 11

12 PROPERTY PHOTOS MAIN LEVEL OFFICE #2 MAIN LEVEL OFFICE #3 MAIN LEVEL KITCHEN MAIN LEVEL KITCHEN 12

13 PROPERTY PHOTOS MAIN LEVEL DINING ROOM GARDEN LEVEL LIVING ROOM GARDEN LEVEL LIVING ROOM GARDEN LEVEL KITCHEN 13

14 PROPERTY PHOTOS GARDEN LEVEL MASTER BEDROOM GARDEN LEVEL BEDROOM #2 GARDEN LEVEL BATHROOM GARDEN LEVEL LAUNDRY 14

15 PROPERTY PHOTOS PARKING GARAGE SIDE YARD SIDE YARD WEST PATH 15

16 REGIONAL SERVICE: CASPER CASPER Casper, Wyoming is one of the most outstanding communities in the Rocky Mountain region. Casper has the amenities of a metro area with the convenience and accessibility of a smaller community. As the 2nd largest metropolitan area in Wyoming, and located within Natrona County, Casper has diverse outdoor recreation opportunities within a 20 minute drive and the best variety of indoor recreation within a 10 minute drive. From downhill skiing to Broadway shows, Casper offers it all. Casper cradles a broad industry base built around natural resources and expanding to manufacturers who desire low overhead with a central western presence. Available business parks offer locations that put business close to suppliers, customers and transportation hubs. The Casper economy continues to thrive. Companies are opening new facilities in the Casper area, while established industries are expanding; creating new jobs, infusing new capital and solidifying their investments. Casper s strategic location allows superb access to companies worldwide: The ability to get goods and services to more markets makes Casper businesses more efficient and more profitable. As one of the fastest growing economic centers in the western United States, it is known for its probusiness attitude, and pro-industry growth. Its location and business community drives the need for FedEx and UPS to service a regional hub out of the Casper/Natrona County International Airport. In the last 10 years, Casper has been experiencing a huge economic boom and its economy has continued to grow despite the national economic downturn. Forbes Magazine rated Casper, Wyoming (July 2014) as one of the Best Small Places for Business and Careers, with a median household income of $54,237, Unemployment 3.7%, and Cost of Living 5.0% below national average. The development of coal and uranium fields in recent decades has helped Casper continue its role as a center in the energy industry. Casper s 2015 median household income is $55,074, while the average household income is $71,481. Through Wyoming s only International Airport Via enhanced freight routes along I-25 Superior rail yard, routes and service on BNSF With a new trans-load facility Via unsurpassed telecommunications capabilities Square Miles (Natrona County).. Elevation (City of Casper) 5,369 5,125 ft. 16

17 REGIONAL SERVICE: CASPER & WYOMING CASPER LIFESTYLE Casper, Wyoming has something for everyone, offering all the advantages of a bigger city and serving as a central hub for Wyoming. Casper is rich in the arts with several theater groups, the Wyoming Symphony Orchestra, concerts, festivals, and museums. The Casper community is very proud to include the National Historic Trails Interpretive Center as one of its major attractions. The Interpretive Center displays exhibits of the pioneer days on the Oregon, California, Mormon and Pony Express Trails. The Casper Events Center, with a seating capacity of 10,000, is another major attraction that offers many entertainment opportunities. Casper is host to the College National Finals Rodeo in June, concerts, off Broadway plays, and a plethora of other family entertainment at the Events Center. Casper is also a wonderful place for indoor and outdoor sports. The Three Crowns golf course is a new 18-hole championship course a terrific addition to Casper's existing three golf courses. Casper also has spectator sports including the Casper Ghosts baseball team and the Wyoming Cavalry National Indoor Football League. Outdoor recreation on the North Platte River offers fishing, rafting, and kayaking. Several lakes are just a short distance away for boating, swimming, fishing, and camping. Winter skiing & snowboarding are enjoyed on Casper Mountain. Casper's central location has made the city a focal point for regional, financial, retail, and medical services. WYOMING Wyoming leads the nation in coal production (1st), uranium (1st), natural gas (3rd) and crude oil (7th). With over 40% of Americas low-sulphur coal coming from Wyoming mines, the coal industry continues to remain strong, and with export of Wyoming s coal to other nations, coal remains a solid energy source. In addition, Wyoming is also ranked the leader in uranium production. With recent advances in uranium mining (in-situ), Wyoming produced 2.9 million pounds of yellow cake which was processed at surface locations throughout the state in This precious mineral is used throughout the world for energy production. The recent exploration and increased production in the northeast, central, and western parts of Wyoming, has expanded production levels that are projected to continue to rise for many years to come. Wyoming has 22 of the 23 counties producing natural gas and oil. Recorded sales were over 2,000 trillion cubic feet of natural gas in 2013 and 75.6 million barrels of crude oil in In addition there are over 27,300 miles of natural gas, crude oil and other petroleum based product pipelines throughout the state. 17

18 CASPER MAP - DRIVE TIME 18

19 CASPER MAP - SIGNIFICANT RETAIL 19

20 CASPER MAP - DINING 20

21 BROKER ONE COMMERCIAL TEAM The BrokerOne Real Estate Commercial Team, led by Randall S. Hall, CCIM, has ranked #1 in Total Sales Volume by the Wyoming Business Report for 10 of the past 11 years and #1 in Total Sales Volume Per Agent for 11 years, straight! With over 94 years of combined commercial sales and leasing experience, our team has the knowledge and commitment to meet your commercial real estate needs. 21

22 BROKER ONE COMMERCIAL TEAM RANDALL S. HALL, CCIM DENNIS BAKER CHUCK HAWLEY FORREST LEFF Principle Broker Associate Broker Commercial Sales & Leasing Associate Broker Randy Hall has represented or facilitated transactions with an extraordinary number of national and regional companies. He is a full-time commercial broker experienced in almost every aspect of commercial and investment real estate brokerage and holds the highly-respected designation of Certified Commercial Investment Member (CCIM) from the CCIM Institute. Randy is past president of the Wyoming Association of REALTORS, past member of Casper Planning & Zoning and current member of the Wyoming Real Estate Commission. Experience counts. With over 12+ years of real estate experience, Dennis Baker brings unique expertise, proficiency and insight to BrokerOne. He is a seasoned expert in commercial real estate and real estate lending practices. His keen knowledge and understanding about cash flow analysis, loan structures and debt analysis have proven invaluable to clients during negotiations. Dennis is dedicated to building strong and lasting relationships in the real estate industry and the community. Chuck brings an array of skills, knowledge, and over 19 years of commercial and retail experience. Before returning to Casper with his family, Chuck provided management oversight for over 3.4 million square feet of commercial office buildings in Los Angeles and more recently, was the general manager of Eastridge Mall, in Casper. He is a Casper College and University of Wyoming graduate with a B.S. degree in business management. Forrest Leff was born and raised in Casper, Wyoming and earned a Bachelors Degree from the University of Wyoming. Forrest has been an Associate Broker in Commercial Real Estate for 13+ years with a special emphasis on Industrial Properties and Energy-related Companies. His expertise and professionalism will prove invaluable at every stage of the commercial real estate acquisition and sales process. 22