Mixed-Use Investment Opportunity in
224 - 228 W 3rd St, Pueblo, CO 81003
MULTI_FAMILY - Pueblo, CO
Property size:
9,000 SFLot size:
0.14 AcresPrice / SF:
$110/SF- Added:
- May 21, 2026
- Days on Market:
- 11
- Last Refresh:
- May 31 at 7:06 am
Property Features for 224 - 228 W 3rd St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B-4
- Bedrooms
- 6
- Bathrooms
- 9
- Rooms
- Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 7, Bedroom 3, Bathroom 3, Bathroom 8, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 4, Bathroom 6, Bathroom 9
- Parking features
- On Street, Garage
- Security features
- Security System
- Window features
- Vinyl Frames, Window Coverings, Double Pane Windows
- Patio and Porch features
- Patio
- Interior features
- New Paint, Ceiling Fan(s), Walk-In Closet(s)
- Exterior features
- Outdoor Lighting-Rear
- Fireplace
- 1
- Basement
- Partial, Full, Crawl Space
- Appliances
- Dishwasher-Some, Garbage Disposal-Some, Refrigerator-All, Gas Range-Some, Microwave Built-In-Some, Washer-Some, Dryer-Some, Gas Cooktop-Some, Electric Cooktop-Some, Built-in Oven-None
- Standard status
- Active
- APN
- 0536129006
- Size
- 9,000 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- W 43 FT 5 1/2 IN LOT 8 BLK 32 PUEBLO
- Tax Annual Amount
- 3213
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Wall Furnace, Natural Gas
- Cooling system
- Central Air, Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 7
- Flooring type
- New floor coverings, Hardwood
- Building materials
- Frame, Brick, Stucco, Concrete, Copper Plumbing, Plastic Plumbing
- Roof type
- Flat, Rubber
Listing agent Chris Pisciotta License #100002693 (719) 240-2059
Listing office Keller Williams Performance Realty 1528 Fortino Blvd, Pueblo, CO (719) 583-1100
Listing date May 21, 2026
MLS# 236543
Listing URL
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.
HighLights
- 8% CAP rate mixed‑use investment property in Historic Downtown Pueblo.
- Approximately 9,000 sq ft of rentable space with commercial storefront and residential apartments.
- Significant income potential: $7,100/month from residential units + guaranteed $2,500/month commercial income for one year.
- Prime downtown location near Arkansas Riverwalk, shopping, dining, entertainment, bus station and Pueblo Bulls Ice Hockey Arena.
- Major improvements: New roof (2022) and extensive remodeling (2021‑2022).
- Includes four off‑street parking spaces, abundant on‑street parking, and access to a paid city parking garage.
Overview
Located in the heart of Historic Downtown Pueblo, this mixed-use property presents an investment opportunity with an 8% CAP. The property is situated steps from the Arkansas Riverwalk, shopping, dining, and entertainment. The building offers approximately 9,000 square feet of total rentable space, including approximately 2,000 square feet of commercial storefront space. The commercial space has operated as a beauty college since 1946. The upper level features five apartments consisting of 3 two-bedroom units and 1 two-bedroom unit. The main floor has 2 two-bedroom units. The residential units generate $7,100 per month in rental income. The owner is willing to guarantee $2,500 per month in commercial lease income for one full year. Major improvements include a new roof installed in 2022 and extensive remodeling completed between 2021-2022. There are four off-street parking spaces, abundant on-street parking, and a paid city parking garage located directly across the street. Positioned directly across from the bus station and the Pueblo Bulls Ice Hockey Arena, the downtown location offers visibility and accessibility. The lot size is 0.138 acres.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.8k | $16.20 |
| − Vacancy | −$5.8k | −$0.65 |
| EGI | $140.0k | $15.55 |
| − OpEx | −$52.5k | −$5.83 |
| NOI | $87.5k | $9.72 |
9,000 SF · lease $16.20/SF/yr · vacancy 4.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.25M
$1.09M – $1.46M
NOI $87,480 @ 7.0% cap · market cap 8.76%
Second Best
Retail
$1.18M
$1.04M – $1.38M
NOI $82,873 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,280 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Rita's Beauty Center
Hair Salon
Location Insight
- Map
- Local Demand
- City
- Pueblo
- County
- Pueblo
- State
- Colorado
- Longitude
- -104.6099231
- Latitude
- 38.26954
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial space and residential units in Pueblo.
Where is this mixed-use property located?
The property is located at 224 - 228 W 3rd St Pueblo, CO.
What is the asking price?
The asking price for this property is $998,500.
What are key features of this property?
This property features: 8% CAP rate mixed‑use investment property in Historic Downtown Pueblo.; Approximately 9,000 sq ft of rentable space with commercial storefront and residential apartments.; Significant income potential: $7,100/month from residential units + guaranteed $2,500/month commercial income for one year.
