Leased Service-Industrial Asset in
For Sale
Contact for pricing
Pending
32920 Walt Basset Ave, Pueblo, CO 81001
Fully leased industrial property with long-term tenant in place.
Property Size14,946 SF
Lot Size1.95 Acres
Days on Market329
Property Features for 32920 Walt Basset Ave
General Information
Standard status
Pending
Size
14,946 SF
Lot size
1.95 Acres
Property subtype
Office, Industrial
Zoning
I-3 Heavy Industrial
Occupancy
100%
Net Operating Income
$133,035
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Cushman & Wakefield Colorado Springs Commercial
(719) 418-4070
Listed By:
Heather McKeen · License #CO FA.100084547
Source:
Crexi
Added: Sep 29, 2025
Changed: Aug 21
Last Checked: Aug 22 at 6:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield Colorado Springs Commercial
Investment Insights
Based on property information with market context.
The property is fully leased to United Site Services, a national provider of portable sanitation and temporary site services. The existing lease provides meaningful remaining term, offering income visibility aligned with essential, nondiscretionary demand across construction, infrastructure, events, municipal, and emergency response end markets. This fully leased, service-industrial asset in Pueblo offers stable fundamentals, including functional real estate, tenant-friendly operating costs, and limited replacement options, supporting long-term occupancy and income durability. Positioned on approximately 1.95 acres, the site features a secure, fully fenced yard with excellent vehicular circulation and multiple drive-in doors supporting fleet and equipment movement. Improvements include two steel buildings, one concrete building, and one open-sided steel structure, delivering practical coverage for dispatch, storage, light maintenance, and materials staging. The simple, durable construction and abundant yard functionality make this a hard-to-replicate service-industrial asset designed for day-to-day operations. The property contains 14,946 square feet of flex space, industrial, warehouse, and office space.
Key Highlights
- Fully leased to United Site Services, a leading national provider, ensuring stable income.
- Meaningful remaining lease term provides long‑term income visibility.
- ±1.95 acre site with a secure, fully fenced yard and excellent vehicular circulation.**
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
$70,924
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
3.60%
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%
$1,418,480
$1.4M
Cap Rate 7%
$1,013,200
$1.0M
Cap Rate 9%
$788,044
$788.0K
Market Conditions
NOI Build-Up for 14,946 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
$104.0K $6.96/SF
− Vacancy
−$2.7K −$0.18/SF
EGI
$101.3K $6.78/SF
− OpEx
−$30.4K −$2.03/SF
NOI
$70.9K $4.75/SF
Area
Pueblo, CO
Vacancy
2.60%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,418,480
Cap Rate 7%
$1,013,200
Cap Rate 9%
$788,044
Alternative Uses
Best Use
Industrial
$1.01M
$886.6K – $1.18M
NOI $70,924 @ 7.0% cap · market cap 3.60%
Second Best
Flex RnD
$940.8K
$823.2K – $1.10M
NOI $65,858 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$3.11M
$2.73M – $3.63M
NOI $218,012 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81001, CO
31,107
Population
13,651
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
32.0 sq mi
ZIP Area
972
Density / Sq Mi
$47,086
Median Household Income
$35,204
Median Earnings
$1,027
Median Rent
$208,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased industrial property with long-term tenant in place.
Where is this flex space located?
The property is located at 32920 Walt Basset Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $1,970,891.
What are key features of this property?
This property features: Fully leased to United Site Services, a leading national provider, ensuring stable income.; Meaningful remaining lease term provides long‑term income visibility.; ±1.95 acre site with a secure, fully fenced yard and excellent vehicular circulation.**
