Pueblo West Flex/Warehouse
For Sale
$699,000
69 North Mission Drive, Pueblo West, CO 81007
8,824 SF flex/warehouse on 2 acres in Pueblo West.
Property Size8,824 SF
Lot Size2.00 Acres
Price / SF$79.22
Days on Market159
Property Features for 69 North Mission Drive
General Information
Standard status
Active
Size
8,824 SF
Class
B
Lot size
2.00 Acres
Property subtype
Office
Building Details
Building Size
8,824 SF
Year Built
2001
Listing Agency:
Miramont Commercial Real Estate
(719) 229-1585
Listed By:
Simon Penner
Source:
Miramontcre
Added: Mar 6
Changed: Aug 7
Last Checked: Aug 12 at 3:34AM
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 Miramont Commercial Real Estate
Investment Insights
Based on property information with market context.
This 8,824 square foot building, constructed with steel and CMU, is located in Pueblo West and situated on 2 acres, making it suitable for contractors needing outdoor storage. The property features modern office space and a warehouse with two 10-foot grade-level doors. It includes 17 surface parking spaces, a water feature, and mature landscaping. A large concrete apron provides access and surface parking, complemented by an outdoor park-like break area. The property is currently operated to grow and process marijuana but can be reverted to traditional office warehouse uses. Its architecture and design make it a unique find.
Key Highlights
- 8,824 SF steel and CMU building on 2 acres, suitable for various business uses.
- Ideal for contractors needing outdoor storage.
- Warehouse with two 10' grade‑level doors.
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
$50,846
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
7.27%
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%
$1,016,920
$1.0M
Cap Rate 7%
$726,371
$726.4K
Cap Rate 9%
$564,956
$565.0K
Market Conditions
NOI Build-Up for 8,824 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
$61.4K $6.96/SF
− Vacancy
−$1.6K −$0.18/SF
EGI
$59.8K $6.78/SF
− OpEx
−$9.0K −$1.02/SF
NOI
$50.8K $5.76/SF
Area
Pueblo County, CO
Vacancy
2.60%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,016,920
Cap Rate 7%
$726,371
Cap Rate 9%
$564,956
Alternative Uses
Best Use
Warehouse
$726.4K
$635.6K – $847.4K
NOI $50,846 @ 7.0% cap · market cap 7.27%
Second Best
Industrial
$598.2K
$523.4K – $697.9K
NOI $41,873 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,712 @ 7.0% cap · market cap 18.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Well-served
Demand for This Use
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 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 - 8,824 SF flex/warehouse on 2 acres in Pueblo West.
Where is this flex space located?
The property is located at 69 North Mission Drive Pueblo West, CO.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 8,824 SF steel and CMU building on 2 acres, suitable for various business uses.; Ideal for contractors needing outdoor storage.; Warehouse with **two 10' grade‑level doors.**
