Building Details

Building Size 2,760 SF

Year Built 1908

Year Renovated 2024

Buildings 1

Stories 2

Tenancy Multi

Listing Agency: MMGREA LLC Show Phone

Listed By: Jason Koch · License #100017489 Show Phone

Source: Gatewayrealtyi-70

Added: May 8 Changed: Oct 24 Last Checked: Oct 23 at 2:02PM

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Investment Insights

Based on property information with market context.

At 323 S Union Avenue in Pueblo, this 2,760 SF storefront spans multiple levels and dates to 1908. A comprehensive renovation was completed in 2024, and tenants are in place. The property is listed on the National Register of Historic Places and carries H-B zoning.

Six private off-street parking spaces are located in Neon Alley. The property is near the Historic Arkansas Riverwalk in downtown Pueblo’s Union Avenue Historic Commercial District.

Key Highlights

• 2,760 SF multi‑level storefront property
• Comprehensive renovation completed in 2024
• Six private off‑street parking spaces in Neon Alley

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,414

Cap Rate

4.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,280 $508.3K

Cap Rate 7%

$363,057 $363.1K

Cap Rate 9%

$282,378 $282.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,760 SF

Gross rent

$38.4K $13.92/SF

− Vacancy

−$2.1K −$0.77/SF

EGI

$36.3K $13.15/SF

− OpEx

−$10.9K −$3.95/SF

NOI

$25.4K $9.21/SF

Area

Pueblo, CO

Vacancy

5.50%

Lease Rate

$13.92 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,280

Cap Rate 7%

$363,057

Cap Rate 9%

$282,378

Alternative Uses

Best Use

Retail

$363.1K

$317.7K – $423.6K (±1% cap)

NOI $25,414 @ 7.0% cap · market cap 4.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$575.1K

$503.2K – $671.0K (±1% cap)

NOI $40,259 @ 7.0% cap · market cap 6.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Pet Grooming Service Travel Agency Home Appliance Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,849

Businesses Nearby

Under-served

Demand for This Use

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 Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The multi-level commercial space includes off-street parking and H-B zoning.

Where is this storefront property located?

The property is located at 323 S Union Avenue Pueblo, CO.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 2,760 SF multi‑level storefront property; Comprehensive renovation completed in 2024; Six private off‑street parking spaces in Neon Alley