Office Building with Covered Back
For Sale
$394,900
2729-31 N Elizabeth St, Pueblo, CO 81003
COMMERCIAL - Pueblo, CO
Property Size2,325 SF
Lot Size0.14 Acres
Price / SF$169.85
Days on Market250
Property Features for 2729-31 N Elizabeth St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Subdivision
Northside/Avenues
Lot features
Corner Lot
Elementary school
District 60
Middle school
District 60
High school
District 60
Standard status
Active
APN
524123001
Size
2,325 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 33 + 34 BLK 8 SOMERLID HEIGHTS ADD
Tax Annual Amount
849
Legal Description
LOTS 33 + 34 BLK 8 SOMERLID HEIGHTS ADD
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Cooling system
Evaporative Cooling, Window Unit(s)
Water source
Public
Amenities
kitchen
conference room
covered patio
Building Details
Year built
1971
Floors in Building
1
Roof type
Asphalt, Tar/Gravel
Listing Agency:
The Saucedo Real Estate Group
(719) 564-6622
Listed By:
The All Star Team
(719) 320-1822
Added: Dec 15, 2025
Changed: Aug 5
Last Checked: Aug 22 at 4:06PM
MLS# 235887
Copyright © 2026 Pueblo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Office building for sale at 2729-31 N Elizabeth St in Pueblo, CO 81003. The property is zoned B-2 and sits on a 0.14-acre lot with a total building size of 2,325 square feet. The interior layout includes 8 offices, a kitchen, and a designated conference room, along with a covered back patio at the rear.
The building is described as well maintained with modern utilities and updated systems. Heating is provided by hot water heat with baseboard, using natural gas. Cooling includes evaporative cooling and window unit(s). Public water and public sewer are available. The roof is a tar/gravel and asphalt roof.
With its office-focused configuration and B-2 commercial zoning, the building is positioned to support a variety of professional uses.
The building is described as well maintained with modern utilities and updated systems. Heating is provided by hot water heat with baseboard, using natural gas. Cooling includes evaporative cooling and window unit(s). Public water and public sewer are available. The roof is a tar/gravel and asphalt roof.
With its office-focused configuration and B-2 commercial zoning, the building is positioned to support a variety of professional uses.
Key Highlights
- B‑2 zoning on a 0.14‑acre lot
- 2,325 square feet office building with covered back patio
- Includes 8 offices, kitchen, and designated conference room
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
Property Profile
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 - Office building in B-2 zoning with eight offices, kitchen, conference room, and a covered back 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: B‑2 zoning on a 0.14‑acre lot; 2,325 square feet office building with covered back patio; Includes 8 offices, kitchen, and designated conference room
