Multi-Tenant Strip
For Sale
$650,000
2111 Northern Ave, Pueblo, CO 81004
Five separate storefronts offer flexible occupancy with newly paved parking and exterior lighting.
Property Size5,180 SF
Price / SF$125.48
Days on Market281
Property Features for 2111 Northern Ave
General Information
Standard status
Active
Size
5,180 SF
Property subtype
General Commercial
Additional Details
Utilities to Site
Yes
Amenities
new paved parking
new outdoor lighting
individual meters for electric and gas
3
B-4
118x124
Building Details
Year Built
1979
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX Associates
(719) 583-8383
Listed By:
Robert Tibbs · License #001318320
Source:
Xome
Added: Nov 24, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:03PM
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 strip mall at 2111 W Northern Ave in Pueblo, Colorado, contains approximately 5,180 square feet arranged across five separate business fronts. The building dates to 1979 and is identified with B-4 zoning. Recent site improvements include newly paved parking and outdoor lighting, while individual electric and gas meters support separate business operations.
The property occupies a 118x124 site and provides a multi-front retail configuration along West Northern Avenue. Its existing layout, utility metering, and parking improvements are suited to a range of separate commercial occupants within one shared property.
The property occupies a 118x124 site and provides a multi-front retail configuration along West Northern Avenue. Its existing layout, utility metering, and parking improvements are suited to a range of separate commercial occupants within one shared property.
Key Highlights
- 5,180 SF strip mall with 5 separate business fronts
- B‑4 zoning
- Newly paved parking and new outdoor lighting
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
$47,698
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
7.34%
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%
$953,960
$954.0K
Cap Rate 7%
$681,400
$681.4K
Cap Rate 9%
$529,978
$530.0K
Market Conditions
NOI Build-Up for 5,180 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
$72.1K $13.92/SF
− Vacancy
−$4.0K −$0.77/SF
EGI
$68.1K $13.15/SF
− OpEx
−$20.4K −$3.95/SF
NOI
$47.7K $9.21/SF
Area
Pueblo, CO
Vacancy
5.50%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$953,960
Cap Rate 7%
$681,400
Cap Rate 9%
$529,978
Alternative Uses
Best Use
Retail
$681.4K
$596.2K – $795.0K
NOI $47,698 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$944.5K – $1.26M
NOI $75,559 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
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?
Strip mall - Five separate storefronts offer flexible occupancy with newly paved parking and exterior lighting.
Where is this strip mall located?
The property is located at 2111 Northern Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,180 SF strip mall with 5 separate business fronts; B‑4 zoning; Newly paved parking and new outdoor lighting
