Building Details

Year Built 1977

Buildings 1

Building Size 8,358 SF

Listing Agency: Denver Real Estate Connection Show Phone

Listed By: Kayla Okafor Show Phone

Source: Denverrealestateconnection

Added: Aug 14 Changed: Oct 23 Last Checked: Oct 23 at 4:58PM

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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 Denver Real Estate Connection

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Investment Insights

Based on property information with market context.

This 8,358-square-foot flex property combines 3,500 square feet of remodeled office space with 4,858 square feet of warehouse area. One warehouse section is configured as a meeting room and could be separated for independent use. A later warehouse addition includes a 14-foot overhead door and rack shelving. The office layout includes removable partition walls, a functioning kitchen near the entrance, and a second kitchen setup that is not operational. The building also has a new roof, central air, and two furnaces, one of them new.

Built in 1977, the property is in the Aspen Circle Industrial Area in Blende/St. Charles Mesa. It is zoned I-1, and fiber-optic service is available.

Key Highlights

• 8,358 square feet total, including 3,500 SF of office and 4,858 SF of warehouse space
• Warehouse addition has a 14 ft. overhead door and rack shelving
• Office area was remodeled; interior walls can be removed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,160

Cap Rate

6.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$963,200 $963.2K

Cap Rate 7%

$688,000 $688.0K

Cap Rate 9%

$535,111 $535.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,358 SF

Gross rent

$58.2K $6.96/SF

− Vacancy

−$1.5K −$0.18/SF

EGI

$56.7K $6.78/SF

− OpEx

−$8.5K −$1.02/SF

NOI

$48.2K $5.76/SF

Area

Pueblo, CO

Vacancy

2.60%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$963,200

Cap Rate 7%

$688,000

Cap Rate 9%

$535,111

Alternative Uses

Best Use

Warehouse

$688.0K

$602.0K – $802.7K (±1% cap)

NOI $48,160 @ 7.0% cap · market cap 6.02%

Second Best

Industrial

$566.6K

$495.8K – $661.0K (±1% cap)

NOI $39,661 @ 7.0% cap · market cap 4.96%

Theoretical Best

Office A

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,915 @ 7.0% cap · market cap 15.24%

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

Property Analytics

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Current Use

James Enterprise Inc. Department Store

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Pharmacy Parking Lot & Garage Big Box & Wholesale Store

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

235

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 81006, CO

11,653

Population

4,795

Households

2.4

Avg Household Size

46

Median Age

23%

College-Educated

92%

High-School Grad

112.4 sq mi

ZIP Area

104

Density / Sq Mi

$68,915

Median Household Income

$46,750

Median Earnings

$1,176

Median Rent

$317,200

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Remodeled offices complement substantial warehouse capacity in an industrial-zoned building.

Where is this flex space located?

The property is located at 1976 Aspen Circle Pueblo, CO.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: 8,358 square feet total, including 3,500 SF of office and 4,858 SF of warehouse space; Warehouse addition has a 14 ft. overhead door and rack shelving; Office area was remodeled; interior walls can be removed