Mixed-Use Property with Hotel-Style
For Sale
$650,000
691 S Union Avenue, Pueblo, CO 81004
Historic commercial building combining ground-floor storefronts with upper-level rooms and shared common areas.
Property Size8,374 SF
Days on Market37
Property Features for 691 S Union Avenue
General Information
Standard status
Active
Size
8,374 SF
Property subtype
Commercial
Zoning
B-4
Taxes and HOA fees
Annual Taxes
$2,643
Building Details
Building Size
8,374 SF
Year Built
1900
Units
4
Listing Agency:
Brokers Guild Homes
(720) 935-2184
Listed By:
Patrick Rampi · License #100055927
(720) 935-2184
Source:
Coloradopartners
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 30 at 6:06AM
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 Brokers Guild Homes
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property combines four ground-floor retail storefronts with 16 upper-level hotel-style rooms. The rooms vary in size and include space for a bed and small closet, while sharing two common bathrooms and a common kitchen. The upper floor could support conversion to short-term rentals, apartments, office space, or additional retail, subject to applicable approvals.
The property is located at 691 S Union Avenue at W Abriendo Avenue in Pueblo’s Mesa Junction neighborhood, across Union Avenue from the Pueblo Library. Retail businesses, coffee shops, and restaurants are located across Abriendo Avenue. Public parking is available along Abriendo Avenue, and the building is zoned B-4.
Current retail occupants include Elevation Barber Studio, Athena’s Garden, and Pre-Loved Promenade, with Elevation Barber Studio using two storefronts and the other businesses occupying one each.
The property is located at 691 S Union Avenue at W Abriendo Avenue in Pueblo’s Mesa Junction neighborhood, across Union Avenue from the Pueblo Library. Retail businesses, coffee shops, and restaurants are located across Abriendo Avenue. Public parking is available along Abriendo Avenue, and the building is zoned B-4.
Current retail occupants include Elevation Barber Studio, Athena’s Garden, and Pre-Loved Promenade, with Elevation Barber Studio using two storefronts and the other businesses occupying one each.
Key Highlights
- 16 upper‑level hotel‑style rooms
- 4 ground‑floor retail storefronts
- B‑4 zoning
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
$26,849
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
4.13%
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%
$536,980
$537.0K
Cap Rate 7%
$383,557
$383.6K
Cap Rate 9%
$298,322
$298.3K
Market Conditions
NOI Build-Up for 8,374 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
$125.6K $15.00/SF
− Vacancy
−$69.1K −$8.25/SF
EGI
$56.5K $6.75/SF
− OpEx
−$29.7K −$3.54/SF
NOI
$26.8K $3.21/SF
Area
Pueblo, CO
Vacancy
55.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$536,980
Cap Rate 7%
$383,557
Cap Rate 9%
$298,322
Alternative Uses
Best Use
Mixed Use
$1.16M
$1.02M – $1.36M
NOI $81,395 @ 7.0% cap · market cap 12.52%
Second Best
Retail
$1.10M
$963.9K – $1.29M
NOI $77,108 @ 7.0% cap · market cap 11.86%
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,148 @ 7.0% cap · market cap 18.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
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?
Mixed-use property - Historic commercial building combining ground-floor storefronts with upper-level rooms and shared common areas.
Where is this mixed-use property located?
The property is located at 691 S Union Avenue Pueblo, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 16 upper‑level hotel‑style rooms; 4 ground‑floor retail storefronts; B‑4 zoning
