Three-Level Storefront
For Sale
$650,000
311 N Santa Fe Ave, Pueblo, CO 81003
Commercial Sale, Pueblo, CO
Property Size5,152 SF
Lot Size0.09 Acres
Price / SF$126.16
Days on Market118
Property Features for 311 N Santa Fe Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-4
Subdivision
Union Historical
Lot features
Interior Lot, General Business District
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0536127007
Size
5,152 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 19 FT 6 IN LOT 3 + S 12 FT OF 4 BLK 28 PUEBLO
Tax Annual Amount
4971
Legal Description
N 19 FT 6 IN LOT 3 + S 12 FT OF 4 BLK 28 PUEBLO
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Roof type
Tar/Gravel
Listing Agency:
RE/MAX Of Pueblo Inc · RE/MAX International
(719) 546-1717
Listed By:
Elizabeth Gladney · License #100076157
(719) 671-6776
Added: Jun 2
Changed: Sep 22
Last Checked: Sep 27 at 6:06PM
MLS# 238834
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 1910 commercial storefront building offers more than 10,000 square feet across three levels and a mezzanine, with broad display windows and open interior areas. The property previously operated as a furniture showroom and includes forced-air heating fueled by natural gas, a tar and gravel roof, public water, and public sewer.
Zoned B-4, the building supports a range of commercial applications identified in the listing, including retail, office, restaurant, mixed-use, and redevelopment. The property is located at 311 N Santa Fe Ave in downtown Pueblo, near the Riverwalk and Sangre de Cristo Arts Center, with access to I-25 and nearby dining, retail, and cultural destinations.
Zoned B-4, the building supports a range of commercial applications identified in the listing, including retail, office, restaurant, mixed-use, and redevelopment. The property is located at 311 N Santa Fe Ave in downtown Pueblo, near the Riverwalk and Sangre de Cristo Arts Center, with access to I-25 and nearby dining, retail, and cultural destinations.
Key Highlights
- More than 10,000 square feet across three levels plus mezzanine
- B‑4 zoning supports retail, office, restaurant, mixed‑use, and redevelopment uses
- Large storefront display windows and open floor plans
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
$47,440
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
7.30%
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%
$948,800
$948.8K
Cap Rate 7%
$677,714
$677.7K
Cap Rate 9%
$527,111
$527.1K
Market Conditions
NOI Build-Up for 5,152 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
$71.7K $13.92/SF
− Vacancy
−$3.9K −$0.77/SF
EGI
$67.8K $13.15/SF
− OpEx
−$20.3K −$3.95/SF
NOI
$47.4K $9.21/SF
Area
Pueblo, CO
Vacancy
5.50%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$948,800
Cap Rate 7%
$677,714
Cap Rate 9%
$527,111
Alternative Uses
Best Use
Retail
$677.7K
$593.0K – $790.7K
NOI $47,440 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$939.4K – $1.25M
NOI $75,150 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,151
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81003, CO
15,169
Population
6,233
Households
2.4
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
12.2 sq mi
ZIP Area
1,243
Density / Sq Mi
$43,750
Median Household Income
$33,941
Median Earnings
$847
Median Rent
$178,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - B-4-zoned commercial property with expansive display windows and adaptable interior space for multiple commercial uses.
Where is this storefront property located?
The property is located at 311 N Santa Fe Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: More than 10,000 square feet across three levels plus mezzanine; B‑4 zoning supports retail, office, restaurant, mixed‑use, and redevelopment uses; Large storefront display windows and open floor plans
