Listing Agency: HomeSmart Preferred Realty s**@banningteam.com Show Phone

Listed By: Deonte Smith Show Phone

Source: Exprealty

Added: Oct 13, 2022 Changed: Oct 25 Last Checked: Oct 24 at 5:35PM

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Investment Insights

Based on property information with market context.

The property combines two distinct spaces. At the front, 896 square feet includes three rooms, a half bath, kitchenette, and an additional entry room; the space can serve residential or office use. The separate residential area measures approximately 900+ square feet and has one bedroom, a full kitchen, a full bathroom, and a large living room. It is ready for occupancy.

A long driveway leads to a two-car garage, with a backyard that can accommodate storage or other uses.

Key Highlights

• Front space offers 896 square feet across three rooms, a half bath, kitchenette, and additional entry room
• Front area supports residential or office use
• Separate residential unit is approximately 900+ square feet with one bedroom, full kitchen, full bathroom, and living room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,709

Cap Rate

6.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$174,180 $174.2K

Cap Rate 7%

$124,414 $124.4K

Cap Rate 9%

$96,767 $96.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 896 SF

Gross rent

$14.5K $16.20/SF

− Vacancy

−$581 −$0.65/SF

EGI

$13.9K $15.55/SF

− OpEx

−$5.2K −$5.83/SF

NOI

$8.7K $9.72/SF

Area

Pueblo, CO

Vacancy

4.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$174,180

Cap Rate 7%

$124,414

Cap Rate 9%

$96,767

Alternative Uses

Best Use

Mixed Use

$124.4K

$108.9K – $145.2K (±1% cap)

NOI $8,709 @ 7.0% cap · market cap 6.40%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$186.7K

$163.4K – $217.8K (±1% cap)

NOI $13,070 @ 7.0% cap · market cap 9.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Gym & Fitness Center Parking Lot & Garage Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

296

Businesses Nearby

Explore this area Business Placement

Demographics for 81001, CO

31,107

Population

13,651

Households

2.3

Avg Household Size

37

Median Age

21%

College-Educated

88%

High-School Grad

32.0 sq mi

ZIP Area

972

Density / Sq Mi

$47,086

Median Household Income

$35,204

Median Earnings

$1,027

Median Rent

$208,400

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A separate residential suite is move-in ready, while the front space supports residential or office use.

Where is this mixed-use property located?

The property is located at 1615 E 8th St Pueblo, CO.

What is the asking price?

The asking price for this property is $136,000.

What are key features of this property?

This property features: Front space offers 896 square feet across three rooms, a half bath, kitchenette, and additional entry room; Front area supports residential or office use; Separate residential unit is approximately 900+ square feet with one bedroom, full kitchen, full bathroom, and living room