Arby's · Cheyenne, WY | InvestmentGrade.com

Arby's NNN

3228 West College Drive · Cheyenne, WY 82007 · QSR / Restaurant

Asking price

$1,360,726

Cap rate

6.75%

NOI

$91,849

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Lease

Lease typeNNN

Term remaining13.3 yrs

Expiration09/2039

Rent bumps1.50% Annually

Options4x5

Ground leaseNo

Credit profileFranchisee

TenancySingle

Planning a 1031 Exchange

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Property

Building SF3,305

Price / SF$412

Year built2007

Lot size1.28 ac

TypeRestaurant - quick service

Days on market28

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

Strong Franchisee Guarantee | The subject property is backed by Quality Meats West, LLC, an experienced multi-unit Arby's franchisee operating 30+ locations across the region.
Cheyenne, WY — Wyoming's Capital & Largest City | Cheyenne serves as both Wyoming's state capital and its largest city, with a projected 2026 population of approximately 65,900 and a median household income of ~$78,800.
Strong Academic Presence | The property sits within close proximity to a significant concentration of students, including Laramie County Community College (~4,200 students), Cheyenne East High School (~1,500 students), Johnson Junior High School (~575 students), and Triumph High School (~170) representing a combined academic population of 6,400+ in the immediate trade area.
Proximity to Cheyenne Regional Airport & Wyoming Air National Guard | The property is located approximately 5 miles from Cheyenne Regional Airport and the adjacent Wyoming Air National Guard Base, home to the 153rd Airlift Wing, which employs 180 full-time personnel and activates over 1,200 Airmen during monthly unit drills.
Proximity to Major Medical Demand Generators | The subject property is situated in close proximity to Cheyenne Regional Medical Center (222-bed system employing 1,800+ staff) and the Cheyenne VA Medical Center (71 beds including a 50-bed nursing home care unit), both of which generate substantial daily employee and visitor traffic.
Strategic Interstate Location | Positioned just off Interstate 25 at Exit 7, the property benefits from exceptional visibility and accessibility to one of Wyoming's primary north-south travel corridors connecting Denver to Casper and beyond.

Property overview

Bang Realty is pleased to present the exclusive listing for an Arby's located at 3228 West College Drive, Cheyenne, WY 82007. The site consists of roughly 3,305 rentable square feet of building space on an estimated 1.28-acre parcel of land. Arby's is subject to a 20-year Triple Net (NNN) lease, which commenced 9/30/2039. The current annual rent is $91,849 and has scheduled increases of 1.50% Annually.

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.