Turnkey Neighborhood Bar and
For Sale
$350,000
313 W Northern Ave, Pueblo, CO 81004
COMMERCIAL - Pueblo, CO
Property Size1,500 SF
Price / SF$233.33
Days on Market47
Property Features for 313 W Northern Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Subdivision
Minnequa Area
Lot features
General Business District, Neighborhood Business District, Historic Business District
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1501417014
Size
1,500 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 27 BLK 49 CITY HALL PL
Tax Annual Amount
1329
Legal Description
LOT 27 BLK 49 CITY HALL PL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Roof type
Flat
Listing Agency:
Rocky Mountain Realty
(719) 569-7276
Listed By:
Shawn Martinez · License #FA40004934
(719) 240-2502
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 31 at 11:06PM
MLS# 241230
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 for-sale property is a turnkey neighborhood bar operating continuously since 1998. The approximately 1,500-square-foot building has been maintained and includes an updated cooling system, a long bar with original craftsmanship, custom tables engraved with the business logo, and attractive tile flooring. The sale also includes the building, the established business, and all bar equipment and furnishings for a straightforward transition to new ownership.
The property is located at 313 W Northern Ave in Pueblo, CO 81004, in the Historic Bessemer District. Zoning is identified as B-2.
In addition to the main interior, the property features a spacious enclosed rear patio and a generous storage room that offers conversion potential to a prep or cooking area.
The property is located at 313 W Northern Ave in Pueblo, CO 81004, in the Historic Bessemer District. Zoning is identified as B-2.
In addition to the main interior, the property features a spacious enclosed rear patio and a generous storage room that offers conversion potential to a prep or cooking area.
Key Highlights
- Approximately 1,500 SF commercial building operating as Nunez Lounge continuously since 1998
- Historic Bessemer District neighborhood bar with longtime local customer base
- Updated cooling system; heating includes natural gas forced air
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
$14,799
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
4.23%
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%
$295,980
$296.0K
Cap Rate 7%
$211,414
$211.4K
Cap Rate 9%
$164,433
$164.4K
Market Conditions
NOI Build-Up for 1,500 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
$20.9K $13.92/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$19.7K $13.15/SF
− OpEx
−$4.9K −$3.29/SF
NOI
$14.8K $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%
$295,980
Cap Rate 7%
$211,414
Cap Rate 9%
$164,433
Alternative Uses
Best Use
Specialty Retail
$211.4K
$185.0K – $246.7K
NOI $14,799 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.6K
$273.5K – $364.7K
NOI $21,880 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cosmopolitan Club — 311 Baystate Ave, Pueblo, CO 81004
- Chug-A-Mug — 1501 e evans ave, pueblo, co 81004
- El Nopal Restaurant — 1435 E Evans Ave, Pueblo, CO 81004
- Capritta's Oasis — 1501 E Evans Ave, Pueblo, CO 81004
- The New Oasis — 1501 E Evans Ave, Pueblo, CO 81004
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey neighborhood bar includes the building, established business, and bar equipment with an enclosed rear patio.
Where is this bar & pub located?
The property is located at 313 W Northern Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 1,500 SF commercial building operating as Nunez Lounge continuously since 1998; Historic Bessemer District neighborhood bar with longtime local customer base; Updated cooling system; heating includes natural gas forced air
