Mixed-Use Building with
New
For Sale
$998,500
224 - 228 W 3rd St # 7, Pueblo, CO 81003
Residential apartments and commercial space share a remodeled building in downtown Pueblo.
Property Size9,000 SF
Price / SF$110.94
Days on Market3
Property Features for 224 - 228 W 3rd St # 7
General Information
Standard status
Active
Size
9,000 SF
Total Parking Spaces
4
Property subtype
Multi Family
Site & Location
Neighborhood
Downtown
Public Transit
Yes
Additional Details
Cap Rate
8%
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,213
Building Details
Building Size
9,000 SF
Year Built
1900
Year Renovated
2022
Listing Agency:
Keller Williams Performance Realty
Listed By:
Chris Pisciotta · License #100002693
(719) 583-1100
Source:
Curtisryanrealestate
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:13AM
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 Keller Williams Performance Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use building contains approximately 9,000 square feet of rentable area, including about 2,000 square feet of commercial storefront space. Residential units occupy the upper and main floors. The property received extensive remodeling in 2021–2022, and a new roof was installed in 2022. Four off-street parking spaces are included.
The property is in downtown Pueblo, across the street from the bus station and Pueblo Bulls Ice Hockey Arena. The Arkansas Riverwalk, shopping, dining, and entertainment are nearby. The listing reports an 8% cap rate.
The property is in downtown Pueblo, across the street from the bus station and Pueblo Bulls Ice Hockey Arena. The Arkansas Riverwalk, shopping, dining, and entertainment are nearby. The listing reports an 8% cap rate.
Key Highlights
- Approximately 9,000 square feet of total rentable space
- Approximately 2,000 square feet of commercial storefront area
- Four off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,480
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,600
$1.7M
Cap Rate 7%
$1,249,714
$1.2M
Cap Rate 9%
$972,000
$972.0K
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$145.8K $16.20/SF
− Vacancy
−$5.8K −$0.65/SF
EGI
$140.0K $15.55/SF
− OpEx
−$52.5K −$5.83/SF
NOI
$87.5K $9.72/SF
Area
Pueblo, CO
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,600
Cap Rate 7%
$1,249,714
Cap Rate 9%
$972,000
Alternative Uses
Best Use
Mixed Use
$1.25M
$1.09M – $1.46M
NOI $87,480 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$947.9K
$829.4K – $1.11M
NOI $66,355 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,280 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,817
Businesses Nearby
Explore this area
Business Placement
Demographics for 81003, CO
15,169
Population
6,233
Households
2.4
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
12.2 sq mi
ZIP Area
1,243
Density / Sq Mi
$43,750
Median Household Income
$33,941
Median Earnings
$847
Median Rent
$178,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential apartments and commercial space share a remodeled building in downtown Pueblo.
Where is this mixed-use property located?
The property is located at 224 - 228 W 3rd St # 7 Pueblo, CO.
What is the asking price?
The asking price for this property is $998,500.
What are key features of this property?
This property features: Approximately 9,000 square feet of total rentable space; Approximately 2,000 square feet of commercial storefront area; Four off‑street parking spaces
