Cannabis Retail
New
For Sale
$850,000
428 S Mcculloch Boulevard, Pueblo, CO 81007
B-4-zoned commercial property with an established cannabis retail tenancy and additional building area.
Property Size6,000 SF
Days on Market5
Property Features for 428 S Mcculloch Boulevard
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
B-4
Taxes and HOA fees
Annual Taxes
$7,695
Building Details
Building Size
6,000 SF
Year Built
2001
Units
2
Listing Agency:
BluRiver Real Estate
(303) 587-8442
Listed By:
Joe Awad
(303) 587-8442
Source:
Coloradopartners
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 3:39PM
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 BluRiver Real Estate
Investment Insights
Based on property information with market context.
This cannabis retail property includes a 6,000-square-foot building on a 19,801-square-foot lot, constructed in 2001. The building contains 2,232 square feet leased to Star Buds, a recreational cannabis retailer, while the remaining building area is not described in the available property information.
The tenancy has occupied the site since December 2019 and is supported by a corporate guarantee from Schwazze. The property is designated B-4 and is offered as a commercial investment asset.
The tenancy has occupied the site since December 2019 and is supported by a corporate guarantee from Schwazze. The property is designated B-4 and is offered as a commercial investment asset.
Key Highlights
- 6,000‑square‑foot building on a 19,801‑square‑foot lot
- 2,232 square feet leased to Star Buds
- Tenant has occupied the site since December 2019
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
$55,248
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
6.50%
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%
$1,104,960
$1.1M
Cap Rate 7%
$789,257
$789.3K
Cap Rate 9%
$613,867
$613.9K
Market Conditions
NOI Build-Up for 6,000 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
$83.5K $13.92/SF
− Vacancy
−$4.6K −$0.77/SF
EGI
$78.9K $13.15/SF
− OpEx
−$23.7K −$3.95/SF
NOI
$55.2K $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%
$1,104,960
Cap Rate 7%
$789,257
Cap Rate 9%
$613,867
Alternative Uses
Best Use
Retail
$789.3K
$690.6K – $920.8K
NOI $55,248 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,520 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 81007, CO
33,263
Population
12,678
Households
2.6
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
136.5 sq mi
ZIP Area
244
Density / Sq Mi
$95,419
Median Household Income
$50,572
Median Earnings
$1,319
Median Rent
$371,600
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.
Frequently Asked Questions
What type of property is this?
Cannabis property - B-4-zoned commercial property with an established cannabis retail tenancy and additional building area.
Where is this cannabis property located?
The property is located at 428 S Mcculloch Boulevard Pueblo, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6,000‑square‑foot building on a 19,801‑square‑foot lot; 2,232 square feet leased to Star Buds; Tenant has occupied the site since December 2019
