Mixed-Use Property with B-4
For Sale
$249,900
321-323 E Northern Ave, Pueblo, CO 81006
COMMERCIAL - Pueblo, CO
Property Size1,248 SF
Lot Size0.16 Acres
Price / SF$200.24
Days on Market131
Property Features for 321-323 E Northern Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-4
Subdivision
Central High School
Lot features
Office Center, Free Standing, General Business District, Neighborhood Business District
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1501422020
Size
1,248 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 31 + 32 BLK 2 CITY HALL PL 2ND
Tax Annual Amount
820
Legal Description
LOTS 31 + 32 BLK 2 CITY HALL PL 2ND
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Listing Agency:
EXIT Realty DTC, Cherry Ck, P.P
(303) 790-7200
Listed By:
Rich Mayo
(719) 369-2766
Added: Apr 21
Changed: Aug 4
Last Checked: Aug 29 at 11:06PM
MLS# 238658
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 mixed-use property at 321-323 E Northern Ave, Pueblo, CO 81006 includes a front commercial building and a residential home located behind it. The commercial portion is zoned B-4, providing flexibility for a wide variety of business uses. The residential home is currently rented under a lease and has been newly updated, with new windows and a new water heater.
Between the buildings, there is a private courtyard with a pergola, offering an outdoor space shared in the property layout.
The lot totals 0.16 acres, and the listed property size is 1,248 square feet. The offering presents an opportunity to own both commercial space and existing rental income in a single mixed-use configuration.
Between the buildings, there is a private courtyard with a pergola, offering an outdoor space shared in the property layout.
The lot totals 0.16 acres, and the listed property size is 1,248 square feet. The offering presents an opportunity to own both commercial space and existing rental income in a single mixed-use configuration.
Key Highlights
- Mixed‑use property: Commercial space with a separate, updated residential home for immediate rental income.
- High‑visibility location on a busy street, ideal for business exposure.**
- Flexible B‑4 zoning allows for a wide variety of commercial uses.
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
$9,201
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
3.68%
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%
$184,020
$184.0K
Cap Rate 7%
$131,443
$131.4K
Cap Rate 9%
$102,233
$102.2K
Market Conditions
NOI Build-Up for 1,248 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
$17.4K $13.92/SF
− Vacancy
−$643 −$0.52/SF
EGI
$16.7K $13.40/SF
− OpEx
−$7.5K −$6.03/SF
NOI
$9.2K $7.37/SF
Area
Pueblo, CO
Vacancy
3.70%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
45.00%
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%
$184,020
Cap Rate 7%
$131,443
Cap Rate 9%
$102,233
Alternative Uses
Best Use
Apartment 5plus
$131.4K
$115.0K – $153.4K
NOI $9,201 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.1K
$227.6K – $303.4K
NOI $18,204 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 81006, CO
11,653
Population
4,795
Households
2.4
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
112.4 sq mi
ZIP Area
104
Density / Sq Mi
$68,915
Median Household Income
$46,750
Median Earnings
$1,176
Median Rent
$317,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - For sale mixed-use building with a B-4 zoned commercial portion and a leased residential home with updated upgrades.
Where is this single family property located?
The property is located at 321-323 E Northern Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Mixed‑use property: **Commercial space with a separate, updated residential home for immediate rental income.**; High‑visibility location on a busy street, ideal for business exposure.**; Flexible B‑4 zoning allows for a wide variety of commercial uses.
