Four-Building Multi-Tenant Shopping
For Sale
$3,800,000
4104 Outlook Blvd, Pueblo, CO 81008
Commercial Sale, Pueblo, CO
Property Size24,515 SF
Lot Size2.83 Acres
Price / SF$155.01
Days on Market138
Property Features for 4104 Outlook Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Subdivision
Northridge/Eagleridge
Lot features
Interior Lot, Shopping Center, General Business District, Strip Mall
Elementary school
D60
Middle school
D60
High school
D60
Standard status
Active
APN
0513051009
Size
24,515 SF
Lot size
2.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Too lengthy. Please see assessors site or contact listing agent for legal.
Tax Annual Amount
69221
Legal Description
Too lengthy. Please see assessors site or contact listing agent for legal.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Roof type
Flat, Tar/Gravel
Listing Agency:
RE/MAX Of Pueblo Inc · RE/MAX International
(719) 546-1717
Listed By:
Tia Hoar · License #FA100076433
(719) 470-1599
Added: Apr 8
Changed: Aug 19
Last Checked: Aug 23 at 12:06AM
MLS# 239164
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.
Four-building, multi-tenant shopping center totaling 24,515 SF on a 2.833-acre site. The property was built in 1999 and features forced-air heating with natural gas, central air conditioning, and a tar/gravel and flat roof. Public utilities include public water and public sewer.
Set at 4104 Outlook Blvd in Pueblo, Colorado (81008), the complex is positioned along a commercial corridor with convenient access to Highway 50 and the interstate. The surrounding area includes grocery-anchored retail, Lowe’s, restaurants, medical offices, and other national and local businesses.
Zoning is B-3, supporting retail and related commercial uses consistent with a multi-tenant shopping center configuration.
Set at 4104 Outlook Blvd in Pueblo, Colorado (81008), the complex is positioned along a commercial corridor with convenient access to Highway 50 and the interstate. The surrounding area includes grocery-anchored retail, Lowe’s, restaurants, medical offices, and other national and local businesses.
Zoning is B-3, supporting retail and related commercial uses consistent with a multi-tenant shopping center configuration.
Key Highlights
- Four‑building multi‑tenant shopping center configuration
- 2.833‑acre site
- 24,515 SF total property size
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
$225,736
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
5.94%
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%
$4,514,720
$4.5M
Cap Rate 7%
$3,224,800
$3.2M
Cap Rate 9%
$2,508,178
$2.5M
Market Conditions
NOI Build-Up for 24,515 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
$341.2K $13.92/SF
− Vacancy
−$18.8K −$0.77/SF
EGI
$322.5K $13.15/SF
− OpEx
−$96.7K −$3.95/SF
NOI
$225.7K $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 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%
$4,514,720
Cap Rate 7%
$3,224,800
Cap Rate 9%
$2,508,178
Alternative Uses
Best Use
Retail
$3.22M
$2.82M – $3.76M
NOI $225,736 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,591 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81008, CO
11,868
Population
5,302
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
102.2 sq mi
ZIP Area
116
Density / Sq Mi
$68,389
Median Household Income
$45,445
Median Earnings
$1,396
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - B-3 zoned shopping center with four buildings on 2.833 acres, central air, forced-air natural gas heating.
Where is this shopping center located?
The property is located at 4104 Outlook Blvd Pueblo, CO.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Four‑building multi‑tenant shopping center configuration; 2.833‑acre site; 24,515 SF total property size
