Remodeled Flex
For Sale
$799,900
1976 Aspen Circle, Pueblo, CO 81006
Commercial Sale, Pueblo, CO
Property Size8,358 SF
Lot Size0.73 Acres
Price / SF$95.70
Days on Market34
Property Features for 1976 Aspen Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Fencing
Fenced
Subdivision
St Charles/Mesa
Lot features
Industrial Park, Free Standing
Elementary school
70
Middle school
70
High school
70
Standard status
Active
APN
1405007011
Size
8,358 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARCEL B LOT LINE REARRANGEMENT NO 2015-003 FORMERLY #14-050-07-011 THRU 013
Tax Annual Amount
5149
Legal Description
PARCEL B LOT LINE REARRANGEMENT NO 2015-003 FORMERLY #14-050-07-011 THRU 013
Utilities
Heating system
Natural Gas, Forced Air, Baseboard, Radiant
Cooling system
Central Air
Amenities
men's and women's bathrooms
meeting space
kitchen
fiber optics
central air
Building Details
Year built
1979
Floors in Building
1
Roof type
Asphalt
Listing Agency:
RE/MAX Associates · RE/MAX International
(719) 583-8383
Listed By:
Kristy Chavez · License #40008798
(719) 406-4406
Added: Aug 12
Changed: Sep 13
Last Checked: Sep 14 at 6:06AM
MLS# 241686
Copyright © 2026 Pueblo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property contains 8,358 square feet divided between 3,500 square feet of remodeled office area and 4,858 square feet of warehouse space. The office portion includes men’s and women’s restrooms, a functioning entrance kitchen, and removable interior walls that allow the layout to be adjusted. Warehouse improvements include a separate meeting area, rack shelving, and a 14-foot overhead door serving the newer addition. A second overhead door could be added to the meeting-area space, which may also function independently.
The fenced property covers 0.731 acres in Pueblo’s Aspen Circle Industrial Area within the Blende/St. Charles Mesa area. Building systems include central air, two furnaces with one recently replaced, and available fiber optics. The roof is asphalt and has been replaced. Constructed in 1979, the property is zoned I-1.
The fenced property covers 0.731 acres in Pueblo’s Aspen Circle Industrial Area within the Blende/St. Charles Mesa area. Building systems include central air, two furnaces with one recently replaced, and available fiber optics. The roof is asphalt and has been replaced. Constructed in 1979, the property is zoned I-1.
Key Highlights
- 8,358 SF total building area with 3,500 SF remodeled offices and 4,858 SF warehouse space
- 0.731‑acre fenced site in the Aspen Circle Industrial Area
- 14‑foot overhead door in the warehouse addition
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,160
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$963,200
$963.2K
Cap Rate 7%
$688,000
$688.0K
Cap Rate 9%
$535,111
$535.1K
Market Conditions
NOI Build-Up for 8,358 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.2K $6.96/SF
− Vacancy
−$1.5K −$0.18/SF
EGI
$56.7K $6.78/SF
− OpEx
−$8.5K −$1.02/SF
NOI
$48.2K $5.76/SF
Area
Pueblo, CO
Vacancy
2.60%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$963,200
Cap Rate 7%
$688,000
Cap Rate 9%
$535,111
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.53M
NOI $91,583 @ 7.0% cap · market cap 11.45%
Second Best
Warehouse
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,915 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 81006, CO
11,653
Population
4,795
Households
2.4
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
112.4 sq mi
ZIP Area
104
Density / Sq Mi
$68,915
Median Household Income
$46,750
Median Earnings
$1,176
Median Rent
$317,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building combining updated offices, warehouse capacity, and reconfigurable interior spaces.
Where is this flex space located?
The property is located at 1976 Aspen Circle Pueblo, CO.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 8,358 SF total building area with 3,500 SF remodeled offices and 4,858 SF warehouse space; 0.731‑acre fenced site in the Aspen Circle Industrial Area; 14‑foot overhead door in the warehouse addition
