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236 North American Road Cheyenne, Wyoming

Offering Memorandum

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Confidentiality and Disclaimer

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap. All rights reserved.

Non-Endorsement Notice

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT & DISCLAIMER NOTICE

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TABLE OF CONTENTS

EXECUTIVE SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . 5

LOCATION OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . 9

MARKET OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . . 12

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EXECUTIVE SUMMARY

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OFFERING SUMMARY

Property Address:236 North American RoadCheyenne, Wyoming 82007

Property Type: Industrial

Year Built/Renovated: 1974

Offering Price: $1,500,000

Price Per Square Foot: $75.00 per square foot

Building Square Feet: 20,000 Square Feet

Lot Size: 1.22 Acres

Calendar Year 2017 NOI: $75,000

Investment Opportunity:

Owner/User or Investment Opportunity. Tenant is on a below market long term lease with a mutual 90 day cancellation. This allows an owner user to take over the space or an investor to lease the space at a higher, market rate rent.

Drive Ins & Docks: 6 total - 4 Dock High & 2 Drive In

Clear Height: 18’

Zoning: LI - Light Industrial

Financing: Property will be delivered free & clear

Confidentiality Memorandum &Disclaimer:

Please read the full disclaimer and execute the confidentiality agreement.

Property Tours:Property tours are available upon request. To schedule a property tour please contact the broker.

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INVESTMENT HIGHLIGHTS

The property is strategically located near the intersections of I-25 and I-80 near downtown Cheyenne, Wyoming. The building is approximately 20,000 square feet with 2,800 square feet of office space. 236 North American was built in 1974 with Twin T concrete construction, has 18’ clear height in the warehouse and is serviced by a sprinkler system. It has four dock high doors and two drive in doors, 3 Phase power and a 5,000 square foot fenced yard. The building is extremely functional with both dock high and drive in doors on the front and back of the building.

The property has a long term tenant in place with a lease that is cancellable by Landlord with a 90 day notice which allows a buyer to look for a new higher paying tenant. The current rental rate is 40% or more below market pricing which gives an investor upside in the property by re-leasing to a tenant paying market rate rent.

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LOCAL MAP

West Lincolnway

Lincoln Highway

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LOCATION OVERVIEW

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AERIAL MAP

WEST LINCOLNWAY

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MAJOR AREA EMPLOYERS & WORK FORCE

Cheyenne’s economy is based mainly on light manufacturing, agriculture, the military and government, tourism, services, and transportation. Cattle- and sheep-raising continue to be important in the region, yet the economy of Cheyenne has become diversified with the development of industries such as fer-tilizer processing plants. Other manufacturing includes electronic products and precision instruments as well as restaurant equipment. F. E. Warren U.S. Air Force Base, site of a major installation of the Strategic Air Command, is the city’s largest employer; federal, state, and county government offices are located in Cheyenne. Major private sector employers include United Medical Center, Union Pacific Railroad, Lowe’s Companies, Inc., Sierra Trading Post, Echo Star Com-munications, Frontier Refining, WalMart, Little America, Hitching Post Inn, and Life Care Cheyenne. With access to two railroads, to interstate freeways, and to commercial air service, the city is a vital transportation center for the state of Wyoming.

• State of Wyoming• F.E. Warren Air Force Base• Laramie County School District #1• Cheyenne Regional Medical Center• Federal Government • Wyoming National Guard• Sierra Trading Post• Veterans’ Affairs Medical Center• Union Pacific Railroad• Laramie County Community College

Laramie County Major Employers

• City of Cheyenne• Lowe’s Companies Inc.• Laramie County Government• Echostar Broadcasting Corporation• HollyFrontier Oil• Magpul Industries• Blue Cross/Blue Shield• Allstate Call Center• Laramie County School District #2• Simon Contractors

“The unemployment rate in Cheyenne is 4.40% and recent job growth is positive.” - Sterling’s Best Places

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MARKET OVERVIEW

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Demographics Statistics Laramie County Demographics

Age• 23.5% of the population is 18 and younger• 14.7% of the population is 65 or older• Median Age is 36.7• Population is estimated at 97,121

Gender• Females make up 49.5% of the population• Males make up 50.5% of the population

Race• White, 79.2% of the population• Hispanic, 14% of the population• African American, 2.8% of the population• Two or more races, 1.9% of the population• Asian, 1.1% of the population• American Indian, 0.8% of the population• Pacific Islander/Hawaiian, 0.07% of the

population

Housing• Housing units, 41,955• $190,000 median owner-occupied housing

value• $827 median gross rent• 2.51 persons per household• 440 building permits issued in 2015• Homeownership rate, 68.7%

Income & Employment• $60,706 median household income

Household Income

“The functional and attractive downtown core has a well preserved historic Western feel.” -Sterling’s Best Places

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SOLD COMPARABLES

Address Price/Price Per SF Land Area Year Built/

Renovation Size Sale Date

388 N American RoadCheyenne, Wyoming

$1,350,000$48.21 PSF 3 .08 AC 1990 28,000 SF 7/1/2013

400 -426 Parsley BlvdCheyenne, Wyoming

$1,626,000$81.30 PSF

2.77 AC 2007 20,000 SF 3/4/2014

807 Murray RoadCheyenne, Wyoming

$1,400,000$41.18 PSF

14.85 AC 1970 34,000 SF 2/24/2015

Averages$1,458,666$59.90 PSF

6.9 AC 1989 27,333 SF

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SALES COMPARABLES MAP

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1. 388 N American Road2. 400 - 426 Parsley Boulevard3. 807 Murray Road

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INVESTMENT CONTACTS

RICHARD BIRDFirst Vice President/District Manager/National DirectorNational Self Storage Group(303) 328 - 2000Richard.Bird@MarcusMillichap.com