Office Building with Eight
For Sale
$394,900
2729-31 N Elizabeth St, Pueblo, CO 81003
B-2-zoned commercial property with a conference room, kitchen, and covered rear patio.
Property Size2,325 SF
Days on Market264
Property Features for 2729-31 N Elizabeth St
General Information
Standard status
Active
Size
2,325 SF
Property subtype
Commercial
Zoning
B-2
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$848
Amenities
kitchen
conference room
covered back patio
Building Details
Building Size
2,325 SF
Year Built
1971
Stories
1
Listing Agency:
The Saucedo Real Estate Group
(719) 320-1822
Listed By:
The All Star Team
(719) 320-1822
Source:
Pikespeakdreamhomesrealty
Added: Dec 1, 2025
Changed: Aug 18
Last Checked: Aug 22 at 1:33PM
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 The Saucedo Real Estate Group
Investment Insights
Based on property information with market context.
This office building at 2729-31 N Elizabeth St includes eight offices, a designated conference room, and a kitchen. The interior is supported by modern utilities and updated systems, with a layout that can accommodate office, retail, medical, or professional service functions. A covered patio is located at the rear of the property.
The building was constructed in 1971 and carries B-2 zoning. Its commercial configuration offers multiple private work areas along with shared support space for business operations. The property is positioned on N Elizabeth St in Pueblo, Colorado, with the address identifying the site as 2729-31 N Elizabeth St, Pueblo, CO 81003.
The building was constructed in 1971 and carries B-2 zoning. Its commercial configuration offers multiple private work areas along with shared support space for business operations. The property is positioned on N Elizabeth St in Pueblo, Colorado, with the address identifying the site as 2729-31 N Elizabeth St, Pueblo, CO 81003.
Key Highlights
- Eight offices within the building
- Dedicated conference room and kitchen
- Covered patio at the rear of the property
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
$25,476
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
6.45%
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%
$509,520
$509.5K
Cap Rate 7%
$363,943
$363.9K
Cap Rate 9%
$283,067
$283.1K
Market Conditions
NOI Build-Up for 2,325 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
$34.9K $15.00/SF
− Vacancy
−$907 −$0.39/SF
EGI
$34.0K $14.61/SF
− OpEx
−$8.5K −$3.65/SF
NOI
$25.5K $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%
$509,520
Cap Rate 7%
$363,943
Cap Rate 9%
$283,067
Alternative Uses
Best Use
Office B
$363.9K
$318.5K – $424.6K
NOI $25,476 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.5K
$423.9K – $565.2K
NOI $33,914 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
620
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - B-2-zoned commercial property with a conference room, kitchen, and covered rear patio.
Where is this office building located?
The property is located at 2729-31 N Elizabeth St Pueblo, CO.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Eight offices within the building; Dedicated conference room and kitchen; Covered patio at the rear of the property
