Leased Medical Office
For Sale
Contact for pricing
916 Indiana Ave, Pueblo, CO 81004
100% leased 2-tenant medical office in a professional plaza with 74 parking spaces and separate gas/electric meters.
Property Size5,026 SF
Lot Size1.81 Acres
Price / SF$159.17
Days on Market212
Property Features for 916 Indiana Ave
General Information
Standard status
Active
Size
5,026 SF
Total Parking Spaces
74
Lot size
1.81 Acres
Property subtype
OFFICE
Zoning
O-1
Occupancy
100%
Financials
Cap Rate
8.5%
Business Included
No
Opportunity Zone
Yes
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
1998
Construction
Masonry
Tenancy
Multi
Listing Agency:
Lee & Associates | Denver
(303) 296-8500
Listed By:
Ray Rosado · License ##FA100-019395
(720) 209-5546
Source:
Moodyscre
Added: Feb 12
Changed: Aug 14
Last Checked: Sep 12 at 11:32AM
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 Lee & Associates | Denver
Investment Insights
Based on property information with market context.
916 Indiana Avenue is a built-out medical office property in a multi-tenant professional plaza, offered for sale on a 100% leased basis. The building totals 9,412 SF and is configured as an easy-to-manage, two-tenant setup. Each unit has separate gas and electric meters, supporting independent operations. The property was built in 1998 with masonry construction and includes 74 unreserved parking spaces.
The site is zoned O-1 (Pueblo) and is located in an Opportunity Zone. It offers quick access to I-25 and is approximately two blocks from St. Mary-Corwin Hospital, supporting convenient patient and staff access.
From an investment standpoint, the building features NNN expenses noted as $6.10/SF for 2026. The current tenant roster includes a recent long-term lease with a national autism care provider and a long-standing family practice tenant with multiple years at the location.
The site is zoned O-1 (Pueblo) and is located in an Opportunity Zone. It offers quick access to I-25 and is approximately two blocks from St. Mary-Corwin Hospital, supporting convenient patient and staff access.
From an investment standpoint, the building features NNN expenses noted as $6.10/SF for 2026. The current tenant roster includes a recent long-term lease with a national autism care provider and a long-standing family practice tenant with multiple years at the location.
Key Highlights
- Professional plaza south medical office at 916 Indiana Avenue, Pueblo, CO—100% leased with two tenants
- ±9,412 SF built in 1998 for medical use; masonry construction and O‑1 zoning (Pueblo)
- NNN investment with reported 8.5% cap rate; sale price $1,343,000 ($142.69/SF)
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
$58,629
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
7.33%
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%
$1,172,580
$1.2M
Cap Rate 7%
$837,557
$837.6K
Cap Rate 9%
$651,433
$651.4K
Market Conditions
NOI Build-Up for 5,026 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
$100.1K $19.92/SF
− Vacancy
−$2.4K −$0.48/SF
EGI
$97.7K $19.44/SF
− OpEx
−$39.1K −$7.78/SF
NOI
$58.6K $11.67/SF
Area
Pueblo, CO
Vacancy
2.40%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
40.00%
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%
$1,172,580
Cap Rate 7%
$837,557
Cap Rate 9%
$651,433
Alternative Uses
Best Use
Healthcare Medical
$837.6K
$732.9K – $977.2K
NOI $58,629 @ 7.0% cap · market cap 7.33%
Second Best
Office B
$786.7K
$688.4K – $917.9K
NOI $55,072 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.05M
$916.4K – $1.22M
NOI $73,312 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 100% leased 2-tenant medical office in a professional plaza with 74 parking spaces and separate gas/electric meters.
Where is this medical office space located?
The property is located at 916 Indiana Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Professional plaza south medical office at 916 Indiana Avenue, Pueblo, CO—100% leased with two tenants; ±9,412 SF built in 1998 for medical use; masonry construction and O‑1 zoning (Pueblo); NNN investment with reported 8.5% cap rate; sale price $1,343,000 ($142.69/SF)
