Quadplex with Coin
For Sale
$375,000
2122 Norman Lane, Pueblo, CO 81005
Four-unit residential income property with on-site coin-operated laundry and individual kitchen appliances.
Property Size2,940 SF
Days on Market198
Property Features for 2122 Norman Lane
General Information
Standard status
Active
Size
2,940 SF
Property subtype
Quadruplex
Amenities
Cable Ready
Wall Unit
Natural Gas
Garbage Disposal-All
Refrigerator-All
Electric Range-All
Range Hood-Some
Patio, Porch, Cable Connected, Composition
Building Details
Building Size
2,940 SF
Year Built
1972
Listing Agency:
RE/MAX Of Pueblo Inc
Listed By:
Barbara Ferrero
(719) 546-1717
Source:
Kw
Added: Feb 16
Changed: Aug 31
Last Checked: Sep 1 at 4:08PM
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 Of Pueblo Inc
Investment Insights
Based on property information with market context.
This quadplex contains four residential units and was built in 1972. Unit features include cable readiness, natural gas, wall-unit cooling, garbage disposals, refrigerators, electric ranges, and range hoods in some units. Exterior improvements include patios, a porch, cable connectivity, and composition roofing. A coin-operated washer and dryer provide an additional income source for the property.
The property is located at 2122 Norman Lane in Pueblo, near Walmart, schools, restaurants, places of worship, and other daily necessities. Access is available to Pueblo Boulevard and Northern Avenue, supporting convenient movement through the surrounding area.
The property is located at 2122 Norman Lane in Pueblo, near Walmart, schools, restaurants, places of worship, and other daily necessities. Access is available to Pueblo Boulevard and Northern Avenue, supporting convenient movement through the surrounding area.
Key Highlights
- Quadplex with four residential units
- Coin‑operated washer and dryer generate additional income
- Built in 1972
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
$24,065
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
6.42%
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%
$481,300
$481.3K
Cap Rate 7%
$343,786
$343.8K
Cap Rate 9%
$267,389
$267.4K
Market Conditions
NOI Build-Up for 2,940 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
$35.6K $12.12/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$34.4K $11.69/SF
− OpEx
−$10.3K −$3.51/SF
NOI
$24.1K $8.19/SF
Area
Pueblo, CO
Vacancy
3.52%
Lease Rate
$12.12 /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%
$481,300
Cap Rate 7%
$343,786
Cap Rate 9%
$267,389
Alternative Uses
Best Use
Multifamily LT 5
$343.8K
$300.8K – $401.1K
NOI $24,065 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$309.7K
$271.0K – $361.3K
NOI $21,676 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$612.6K
$536.1K – $714.8K
NOI $42,885 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 81005, CO
31,327
Population
13,578
Households
2.3
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
198.7 sq mi
ZIP Area
158
Density / Sq Mi
$67,500
Median Household Income
$45,198
Median Earnings
$990
Median Rent
$282,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with on-site coin-operated laundry and individual kitchen appliances.
Where is this quadplex located?
The property is located at 2122 Norman Lane Pueblo, CO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Quadplex with four residential units; Coin‑operated washer and dryer generate additional income; Built in 1972
