Remodeled Office and Warehouse Flex
For Sale
$799,900
1976 Aspen Circle, Pueblo, CO 81006
Adaptable commercial building combining remodeled offices with warehouse areas and reconfigurable interior space.
Property Size8,358 SF
Price / SF$95.70
Days on Market8
Property Features for 1976 Aspen Circle
General Information
Standard status
Active
Size
8,358 SF
Property subtype
General Commercial
Warehouse & Industrial
Warehouse Space
4,858 SF
Office Build-Out
3,500 SF
Additional Details
Utilities to Site
Yes
Amenities
Fiber optics
Functioning kitchen
Building Details
Year Built
1979
Buildings
1
Building Size
8,358 SF
Listing Agency:
RE/MAX Associates
(719) 583-8383
Listed By:
Kristy Chavez · License #40008798
Source:
Xome
Added: Aug 9
Changed: Aug 15
Last Checked: Aug 16 at 3:34AM
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 RE/MAX Associates
Investment Insights
Based on property information with market context.
This 8,358-square-foot flex property combines 3,500 SF of remodeled office area with 4,858 square feet of warehouse space. The office buildout includes removable interior walls, allowing the current configuration to be adjusted. One warehouse area is arranged as a meeting space and may be used separately, while the larger warehouse addition includes a 14-foot overhead door and rack shelving. A second overhead door could be added to the meeting-space area. The property also has a functioning entrance kitchen and a separate non-operational kitchen setup in the rear office area.
Building improvements include a new roof, two furnaces, central air, and fiber optics availability. One furnace is new. Constructed in 1979, the building is located at 1976 Aspen Circle in the Aspen Circle Industrial Area of Blende/St. Charles Mesa, Pueblo, Colorado.
Building improvements include a new roof, two furnaces, central air, and fiber optics availability. One furnace is new. Constructed in 1979, the building is located at 1976 Aspen Circle in the Aspen Circle Industrial Area of Blende/St. Charles Mesa, Pueblo, Colorado.
Key Highlights
- 8,358‑square‑foot flex building with 3,500 SF of remodeled office space
- 4,858‑square‑foot warehouse component with a 14 ft. overhead door
- Warehouse addition includes rack shelving
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
$48,160
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
6.02%
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%
$963,200
$963.2K
Cap Rate 7%
$688,000
$688.0K
Cap Rate 9%
$535,111
$535.1K
Market Conditions
NOI Build-Up for 8,358 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
$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 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%
$963,200
Cap Rate 7%
$688,000
Cap Rate 9%
$535,111
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.53M
NOI $91,583 @ 7.0% cap · market cap 11.45%
Second Best
Warehouse
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,915 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
237
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building combining remodeled offices with warehouse areas and reconfigurable interior space.
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‑foot flex building with 3,500 SF of remodeled office space; 4,858‑square‑foot warehouse component with a 14 ft. overhead door; Warehouse addition includes rack shelving
