Storefront Property with
For Sale
$239,900
609 N Grand Ave, Pueblo, CO 81003
B-4 zoning supports multiple commercial uses, with working solar and off-street parking already in place.
Property Size2,368 SF
Days on Market97
Property Features for 609 N Grand Ave
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Commercial
Zoning
B-4
Taxes and HOA fees
Annual Taxes
$2,362
Amenities
working solar
off-street parking
three separate bathrooms
Building Details
Building Size
2,368 SF
Year Built
1962
Stories
1
Listing Agency:
Sorella Real Estate
(719) 621-4778
Listed By:
CORE group
(719) 621-4778
Source:
Pikespeakdreamhomesrealty
Added: May 27
Changed: Aug 29
Last Checked: Aug 30 at 5:42PM
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 Sorella Real Estate
Investment Insights
Based on property information with market context.
This storefront property at 609 N Grand Ave offers a nearly 2,400-square-foot main level that has been opened into a broad, unfinished interior ready for tenant or owner improvements. A 1,520-square-foot basement adds substantial space for storage, preparation, or additional operations. The building includes three bathrooms, including one with a tub and shower combination, and was constructed in 1962.
Located in downtown Pueblo’s B-4 Central Business District, the property combines working solar equipment with off-street parking. The zoning permits a wide range of uses by right, including salon or barber services, instructional and fitness studios, massage services, general or professional office, medical office, catering or commissary kitchen, photography, printing, and gallery operations. The configuration provides a flexible base for a commercial buildout.
Located in downtown Pueblo’s B-4 Central Business District, the property combines working solar equipment with off-street parking. The zoning permits a wide range of uses by right, including salon or barber services, instructional and fitness studios, massage services, general or professional office, medical office, catering or commissary kitchen, photography, printing, and gallery operations. The configuration provides a flexible base for a commercial buildout.
Key Highlights
- Nearly 2,400 SF main level with an open, unfinished interior
- 1,520 SF basement for storage, preparation, or additional operating space
- B‑4 Central Business District zoning with multiple permitted uses by right
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
$21,805
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
9.09%
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%
$436,100
$436.1K
Cap Rate 7%
$311,500
$311.5K
Cap Rate 9%
$242,278
$242.3K
Market Conditions
NOI Build-Up for 2,368 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
$33.0K $13.92/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$31.1K $13.15/SF
− OpEx
−$9.3K −$3.95/SF
NOI
$21.8K $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%
$436,100
Cap Rate 7%
$311,500
Cap Rate 9%
$242,278
Alternative Uses
Best Use
Office B
$370.7K
$324.3K – $432.5K
NOI $25,947 @ 7.0% cap · market cap 10.82%
Second Best
Mixed Use
$328.8K
$287.7K – $383.6K
NOI $23,017 @ 7.0% cap · market cap 9.59%
Theoretical Best
Office A
$493.4K
$431.8K – $575.7K
NOI $34,541 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
Balanced
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 Office 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?
Storefront property - B-4 zoning supports multiple commercial uses, with working solar and off-street parking already in place.
Where is this storefront property located?
The property is located at 609 N Grand Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Nearly 2,400 SF main level with an open, unfinished interior; 1,520 SF basement for storage, preparation, or additional operating space; B‑4 Central Business District zoning with multiple permitted uses by right
