Restaurant Building with
For Sale
$645,000
2920 Hart Rd, Pueblo, CO 81008
Commercial Sale, Pueblo, CO
Property Size4,865 SF
Lot Size0.54 Acres
Price / SF$132.58
Days on Market46
Property Features for 2920 Hart Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-4
Subdivision
Belmont
Lot features
General Business District
Elementary school
Pueblo School District 60
Middle school
Pueblo School District 60
High school
Pueblo School District 60
Standard status
Active
APN
0419001002
Size
4,865 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Parcel 1 Dill-Hahn CO Sub 3rd
Tax Annual Amount
1200
Legal Description
Parcel 1 Dill-Hahn CO Sub 3rd
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Roof type
Tile
Listing Agency:
The Hancock Group
(719) 384-2541
Listed By:
Brian Hancock
(719) 469-7661
Added: Aug 15
Changed: Sep 17
Last Checked: Sep 29 at 4:06PM
MLS# 241750
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.
This 4,865-square-foot restaurant property occupies 0.544 acres and has operated as a restaurant for many years. The building includes a well-equipped kitchen, spacious customer seating, and a bar, with potential availability of the tenant’s restaurant equipment. Constructed in 1978, the property has a tile roof, forced-air natural gas heat, and central air conditioning.
Public water and public sewer serve the site. The property is located near a mall, King Soopers, Wells Fargo Bank, and Natural Grocers in Pueblo, providing an established commercial setting for restaurant operations. B-4 zoning is in place, and the current lease is nearing expiration.
Public water and public sewer serve the site. The property is located near a mall, King Soopers, Wells Fargo Bank, and Natural Grocers in Pueblo, providing an established commercial setting for restaurant operations. B-4 zoning is in place, and the current lease is nearing expiration.
Key Highlights
- 4,865‑square‑foot restaurant building on 0.544 acres
- Well‑equipped kitchen with spacious seating and a bar
- B‑4 zoning
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
$47,997
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
7.44%
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%
$959,940
$959.9K
Cap Rate 7%
$685,671
$685.7K
Cap Rate 9%
$533,300
$533.3K
Market Conditions
NOI Build-Up for 4,865 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
$67.7K $13.92/SF
− Vacancy
−$3.7K −$0.77/SF
EGI
$64.0K $13.15/SF
− OpEx
−$16.0K −$3.29/SF
NOI
$48.0K $9.87/SF
Area
Pueblo, CO
Vacancy
5.50%
Lease Rate
$13.92 /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%
$959,940
Cap Rate 7%
$685,671
Cap Rate 9%
$533,300
Alternative Uses
Best Use
Specialty Retail
$685.7K
$600.0K – $800.0K
NOI $47,997 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.1K – $1.18M
NOI $70,964 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81008, CO
11,868
Population
5,302
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
102.2 sq mi
ZIP Area
116
Density / Sq Mi
$68,389
Median Household Income
$45,445
Median Earnings
$1,396
Median Rent
$280,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-4-zoned property includes a well-equipped kitchen, spacious seating, and public water and sewer service.
Where is this conventional restaurant located?
The property is located at 2920 Hart Rd Pueblo, CO.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 4,865‑square‑foot restaurant building on 0.544 acres; Well‑equipped kitchen with spacious seating and a bar; B‑4 zoning
