8-Bay Self-Service Car
For Sale
$700,000
2024 Norwood Ave, Pueblo, CO 81001
Existing car wash facility near Highway 50 and Norwood Avenue, with access to surrounding neighborhoods and established commercial businesses.
Property Size3,180 SF
Price / SF$220.13
Days on Market13
Property Features for 2024 Norwood Ave
General Information
Standard status
Active
Size
3,180 SF
Property subtype
General Commercial
Site & Location
Traffic Count
65,000 vehicles/day
Highway Access
Yes
Additional Details
Car Wash Bays
8
Amenities
3
Building Details
Year Built
1981
Listing Agency:
RE/MAX Associates
(719) 583-8383
Listed By:
Janella Sandoval · License #100096936
Source:
Xome
Added: Aug 10
Changed: Aug 18
Last Checked: Aug 22 at 4:09AM
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 Pueblo property includes a self-service car wash facility with eight wash bays and 3,180 square feet of improvements. Built in 1981, the site can support renovation or modernization of the existing operation, with any alternative commercial use or redevelopment subject to applicable approvals.
The property is located at 2024 Norwood Ave near Highway 50 and Norwood Avenue, along a commercial corridor reported to carry approximately 65,000 vehicles per day. Surrounding context includes residential neighborhoods, retail centers, restaurants, and other established businesses. The site’s existing car wash configuration and established commercial setting provide a defined physical base for future repositioning.
The property is located at 2024 Norwood Ave near Highway 50 and Norwood Avenue, along a commercial corridor reported to carry approximately 65,000 vehicles per day. Surrounding context includes residential neighborhoods, retail centers, restaurants, and other established businesses. The site’s existing car wash configuration and established commercial setting provide a defined physical base for future repositioning.
Key Highlights
- Eight self‑service wash bays
- 3,180 square feet of improvements
- Built in 1981
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
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
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Frequently Asked Questions
What type of property is this?
Self service car wash - Existing car wash facility near Highway 50 and Norwood Avenue, with access to surrounding neighborhoods and established commercial businesses.
Where is this self service car wash located?
The property is located at 2024 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 of improvements; Built in 1981
