Mixed-Use Property for
For Sale
Contact for pricing
241 S Santa Fe Ave, Pueblo, CO 81003
Mixed-use property with retail, residential, and office spaces available.
Property Size8,818 SF
Price / SF$249.49
Days on Market1219
Property Features for 241 S Santa Fe Ave
General Information
Standard status
Active
Size
8,818 SF
Property subtype
Retail, Multifamily, Office, Land
Zoning
I2; I3
Building Details
Year Built
1948
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Highland, LLC
(719) 577-0044
Listed By:
Jordin Egan · License #CO FA100075208
Source:
Crexi
Added: Apr 13, 2023
Changed: Aug 8
Last Checked: Aug 12 at 8:16AM
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 NAI Highland, LLC
Investment Insights
Based on property information with market context.
This mixed-use property, offered for sale, encompasses a total area of 8818 square feet. The property is suitable for retail, residential income, and office use, presenting a versatile investment opportunity. It is located in Pueblo, Colorado.
Key Highlights
- For Sale
- Year Built: 1948
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
$96,623
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
4.39%
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%
$1,932,460
$1.9M
Cap Rate 7%
$1,380,329
$1.4M
Cap Rate 9%
$1,073,589
$1.1M
Market Conditions
NOI Build-Up for 8,818 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
$132.3K $15.00/SF
− Vacancy
−$3.4K −$0.39/SF
EGI
$128.8K $14.61/SF
− OpEx
−$32.2K −$3.65/SF
NOI
$96.6K $10.96/SF
Area
Pueblo, CO
Vacancy
2.60%
Lease Rate
$15.00 /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%
$1,932,460
Cap Rate 7%
$1,380,329
Cap Rate 9%
$1,073,589
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,623 @ 7.0% cap · market cap 4.39%
Second Best
Mixed Use
$1.22M
$1.07M – $1.43M
NOI $85,711 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,625 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail, residential, and office spaces available.
Where is this mixed-use property located?
The property is located at 241 S Santa Fe Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: For Sale; Year Built: 1948
