Renovated Duplex with Historic
For Sale
Contact for pricing
109-111 W Grant Ave, Pueblo, CO 81004
Two-unit property combines period character with updated mechanical systems and flexible occupancy arrangements.
Property Size3,040 SF
Price / SF$159.54
Days on Market152
Property Features for 109-111 W Grant Ave
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Multifamily
Zoning
R-5
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Units
2
Tenancy
Multi
Listing Agency:
Curtis Ryan Properties
Listed By:
Curtis Propeties · License #100086597
Source:
Crexi
Added: Apr 3
Changed: Aug 31
Last Checked: Aug 30 at 9:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Curtis Ryan Properties
Investment Insights
Based on property information with market context.
Built in 1900, this 3,040-square-foot duplex pairs historic detailing with substantial updates. Interior features include high ceilings, exposed brick, refinished hardwood flooring, abundant natural light, and a skylight. The kitchens open to dining areas, while the bathrooms retain claw-foot tubs alongside updated plumbing. A new furnace and new A/C add to the recent improvements.
The property is zoned R-5 and located near Mesa Junction, with the library, local shops, restaurants, and everyday services nearby. One unit has a long-term tenant, while the second is being used as a VRBO. The duplex is offered as-is and includes a combination of established occupancy, short-term rental use, and distinctive architectural details.
The property is zoned R-5 and located near Mesa Junction, with the library, local shops, restaurants, and everyday services nearby. One unit has a long-term tenant, while the second is being used as a VRBO. The duplex is offered as-is and includes a combination of established occupancy, short-term rental use, and distinctive architectural details.
Key Highlights
- 3,040‑square‑foot duplex built in 1900
- R‑5 zoning
- High ceilings, exposed brick, refinished hardwood floors, and a skylight
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
$24,884
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
5.13%
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%
$497,680
$497.7K
Cap Rate 7%
$355,486
$355.5K
Cap Rate 9%
$276,489
$276.5K
Market Conditions
NOI Build-Up for 3,040 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
$36.8K $12.12/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$35.5K $11.69/SF
− OpEx
−$10.7K −$3.51/SF
NOI
$24.9K $8.19/SF
Area
Pueblo, CO
Vacancy
3.52%
Lease Rate
$12.12 /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%
$497,680
Cap Rate 7%
$355,486
Cap Rate 9%
$276,489
Alternative Uses
Best Use
Multifamily LT 5
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$320.2K
$280.2K – $373.6K
NOI $22,413 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$633.5K
$554.3K – $739.1K
NOI $44,343 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property combines period character with updated mechanical systems and flexible occupancy arrangements.
Where is this duplex located?
The property is located at 109-111 W Grant Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 3,040‑square‑foot duplex built in 1900; R‑5 zoning; High ceilings, exposed brick, refinished hardwood floors, and a skylight
