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

Who owns this building? See the owner, sales and loan history

Open Analytics

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