8-Bay Self-Service Car
New
For Sale
$700,000
2024 N Norwood Ave, Pueblo, CO 81001
COMMERCIAL - Pueblo, CO
Property Size3,180 SF
Lot Size0.47 Acres
Price / SF$220.13
Days on Market1
Property Features for 2024 N Norwood Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Security features
Security System
Subdivision
Belmont
Lot features
Corner Lot, Free Standing
Elementary school
Pueblo District 60
Middle school
Pueblo District 60
High school
Pueblo District 60
Standard status
Active
APN
0429210001
Size
3,180 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 POWER WASH SUB
Tax Annual Amount
3298
Legal Description
LOT 1 POWER WASH SUB
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1981
Roof type
Metal
Listing Agency:
RE/MAX Associates · RE/MAX International
(719) 583-8383
Listed By:
Janella Sandoval · License #100096936
(719) 214-7688
Added: Aug 14
Last Checked: Aug 14 at 7:06PM
MLS# 241742
Copyright © 2026 Pueblo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,180-square-foot self-service car wash property includes eight wash bays within an existing commercial improvement built in 1981. The facility may support renovation, modernization, or reopening of the car wash operation, with any alternative use or redevelopment subject to B-3 zoning and applicable approvals.
The property encompasses 0.468 acres at 2024 N Norwood Ave in Pueblo, near Highway 50 and Norwood Avenue. Approximately 65,000 vehicles per day travel through the surrounding commercial corridor. Public water and public sewer serve the property, while natural gas provides heating. The building has a metal roof and is positioned near residential neighborhoods, retail centers, restaurants, and established businesses.
The property encompasses 0.468 acres at 2024 N Norwood Ave in Pueblo, near Highway 50 and Norwood Avenue. Approximately 65,000 vehicles per day travel through the surrounding commercial corridor. Public water and public sewer serve the property, while natural gas provides heating. The building has a metal roof and is positioned near residential neighborhoods, retail centers, restaurants, and established businesses.
Key Highlights
- Eight self‑service wash bays
- 3,180 square feet on 0.468 acres
- B‑3 zoning
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
$31,373
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
4.48%
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%
$627,460
$627.5K
Cap Rate 7%
$448,186
$448.2K
Cap Rate 9%
$348,589
$348.6K
Market Conditions
NOI Build-Up for 3,180 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
$44.3K $13.92/SF
− Vacancy
−$2.4K −$0.77/SF
EGI
$41.8K $13.15/SF
− OpEx
−$10.5K −$3.29/SF
NOI
$31.4K $9.87/SF
Area
Pueblo, CO
Vacancy
5.50%
Lease Rate
$13.92 /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%
$627,460
Cap Rate 7%
$448,186
Cap Rate 9%
$348,589
Alternative Uses
Best Use
Specialty Retail
$448.2K
$392.2K – $522.9K
NOI $31,373 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$418.3K
$366.0K – $488.0K
NOI $29,282 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$662.6K
$579.8K – $773.1K
NOI $46,385 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
65,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
330
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
Market
Vacancy Rate% for Retail 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?
Self service car wash - Existing wash infrastructure supports renovation or reopening, subject to zoning and applicable approvals.
Where is this self service car wash located?
The property is located at 2024 N Norwood Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Eight self‑service wash bays; 3,180 square feet on 0.468 acres; B‑3 zoning
