The Deming Building holds historical importance as the former home of the Cheyenne Business College, an institution that operated in the early 20th century. A faded sign for the college remains visible on one side of the building, serving as a testament to its educational legacy . Additionally, the building is a contributing property to the Downtown Cheyenne Historic District, which was listed on the National Register of Historic Places in 1978. This district encompasses a collection of structures that represent the commercial and architectural development of Cheyenne during its formative years .
Today, the Deming Building continues to serve the community by providing office spaces for various businesses. Tenants include WyoLotto, Meteir Law, Wyo Range Media and Wyoming Breast Cancer Initiative. The building's central location and historic charm make it a desirable location for businesses seeking a presence in downtown Cheyenne. The Deming Building stands as a significant piece of Cheyenne's architectural and educational history, reflecting the city's growth and development over the past century.