Remodeled Historic Income
For Sale
$699,900
323 S Union Ave, Pueblo, CO 81003
COMMERCIAL - Pueblo, CO
Property Size2,760 SF
Lot Size0.07 Acres
Price / SF$253.59
Days on Market49
Property Features for 323 S Union Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HB
Subdivision
Union Historical
Lot features
Interior Lot, Business Park, Shopping Center, Office Center, Historic Business District
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0536409014
Size
2,760 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
NE 9 IN LOT 28 ALL 27 EXC 8 FT BY 90 FT OFF NE SIDE BLK 48 SOUTH PUEBLO
Tax Annual Amount
7446
Legal Description
NE 9 IN LOT 28 ALL 27 EXC 8 FT BY 90 FT OFF NE SIDE BLK 48 SOUTH PUEBLO
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Radiant, Baseboard
Cooling system
Evaporative Cooling, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1908
Floors in Building
2
Roof type
Tar/Gravel, Flat
Listing Agency:
Keller Williams Advantage
(303) 986-4300
Listed By:
The Top Shelf Team
(719) 406-9834
Added: Jun 13
Changed: Jul 12
Last Checked: Jul 31 at 1:06AM
MLS# 234391
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 remodeled historic income property at 323 S Union Ave totals 2,760 square feet and is currently leased out. The building includes 8 rooms total, with 5 restrooms plus a shower. Interior details include original built-in bookcases and a ladder, along with a notable banister highlighting the property’s historic craftsmanship. The front facade has recently received a fresh paint job and restoration work intended to preserve its historic character.
The property is situated in downtown Pueblo, on Union Avenue, with proximity to the Historic Riverwalk described in the public remarks. Private parking is available, with new parking lines at Neon Alley-park, supporting day-to-day use for occupants and guests.
For buyers or operators looking for an income-producing commercial asset, the current configuration offers flexibility with space already set up as both office space and short-term rentals. The combination of multiple restrooms, the existing room count, and the property’s maintained historic facade can be useful for tenants seeking a turnkey layout without starting from scratch, while the on-site parking helps support regular access and short-stay convenience.
The property is situated in downtown Pueblo, on Union Avenue, with proximity to the Historic Riverwalk described in the public remarks. Private parking is available, with new parking lines at Neon Alley-park, supporting day-to-day use for occupants and guests.
For buyers or operators looking for an income-producing commercial asset, the current configuration offers flexibility with space already set up as both office space and short-term rentals. The combination of multiple restrooms, the existing room count, and the property’s maintained historic facade can be useful for tenants seeking a turnkey layout without starting from scratch, while the on-site parking helps support regular access and short-stay convenience.
Key Highlights
- Income‑producing property leased at $3,700/month.
- Front parking in Historic Neon Alley with new parking lines.
- 8 rooms total, including 5 restrooms plus a shower.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.4k | $15.00 |
| − Vacancy | −$1.1k | −$0.39 |
| EGI | $40.3k | $14.61 |
| − OpEx | −$10.1k | −$3.65 |
| NOI | $30.2k | $10.96 |
2,760 SF · lease $15.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$432.0K
$378.0K – $504.1K
NOI $30,243 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$290.7K
$254.4K – $339.2K
NOI $20,349 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$575.1K
$503.2K – $671.0K
NOI $40,259 @ 7.0% cap · market cap 5.75%
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
1,849
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Leased income property with 8 rooms, 5 restrooms plus a shower, and office and short-term rental setup.
Where is this short term rental property located?
The property is located at 323 S Union Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Income‑producing property leased at $3,700/month.; Front parking in Historic Neon Alley with new parking lines.; 8 rooms total, including 5 restrooms plus a shower.
