Mixed-Use Property with Three
For Sale
$400,000
1217 N Greenwood St, Pueblo, CO 81003
R-5 zoning supports residential and professional office configurations with separate kitchens throughout.
Property Size2,478 SF
Price / SF$161.42
Days on Market53
Property Features for 1217 N Greenwood St
General Information
Standard status
Active
Size
2,478 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R-5
Additional Details
Office Units
1
Amenities
oak hardwood floors
double-pane vinyl windows
covered rear deck
handicap-accessible entry
Building Details
Year Built
1940
Listing Agency:
Redfin Corp
(303) 548-6868
Listed By:
Travis Fraker · License #100097993
Source:
719coloradohome
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 29 at 10:38AM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This 2,478-square-foot mixed-use property, built in 1940, is arranged as three distinct spaces. One includes a 420-square-foot, one-bedroom apartment. The primary area has two bedrooms, one full bathroom, an unfinished 760-square-foot basement, and garage space. A third section contains three rooms and two half bathrooms, providing a separate professional office configuration. All three spaces have full kitchens, and the appliances convey with the property.
Located between Parkview Hospital and the City Center, the property has eight parking spaces behind the building plus additional street parking. Other features include oak hardwood flooring, double-pane vinyl windows, a covered rear deck, and a handicap-accessible rear entry. R-5 zoning permits uses including multifamily apartments, professional offices, and nonprofit organizations.
Located between Parkview Hospital and the City Center, the property has eight parking spaces behind the building plus additional street parking. Other features include oak hardwood flooring, double-pane vinyl windows, a covered rear deck, and a handicap-accessible rear entry. R-5 zoning permits uses including multifamily apartments, professional offices, and nonprofit organizations.
Key Highlights
- R‑5 zoning permits multifamily apartments, professional offices, and nonprofit organizations
- Three separate spaces, including a 420 sq. ft. one‑bedroom apartment
- Primary area includes two bedrooms, one full bathroom, garage space, and a 760 sq. ft. unfinished basement
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
$27,153
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
6.79%
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%
$543,060
$543.1K
Cap Rate 7%
$387,900
$387.9K
Cap Rate 9%
$301,700
$301.7K
Market Conditions
NOI Build-Up for 2,478 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
$37.2K $15.00/SF
− Vacancy
−$966 −$0.39/SF
EGI
$36.2K $14.61/SF
− OpEx
−$9.1K −$3.65/SF
NOI
$27.2K $10.96/SF
Area
Pueblo, CO
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$543,060
Cap Rate 7%
$387,900
Cap Rate 9%
$301,700
Alternative Uses
Best Use
Office B
$387.9K
$339.4K – $452.6K
NOI $27,153 @ 7.0% cap · market cap 6.79%
Second Best
Mixed Use
$344.1K
$301.1K – $401.4K
NOI $24,086 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$516.4K
$451.8K – $602.4K
NOI $36,146 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,016
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - R-5 zoning supports residential and professional office configurations with separate kitchens throughout.
Where is this mixed-use property located?
The property is located at 1217 N Greenwood St Pueblo, CO.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: R‑5 zoning permits multifamily apartments, professional offices, and nonprofit organizations; Three separate spaces, including a 420 sq. ft. one‑bedroom apartment; Primary area includes two bedrooms, one full bathroom, garage space, and a 760 sq. ft. unfinished basement
