311 24Th StPueblo, CO 81003

Property Details for 311 24Th St

Year built

1956

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.28 AC

Property size (Sq ft)

3,820 SF

Zone code

B2:COMM/SUBREG BUS

Property type

Office buildings

APN

524417015

APU

524417015

Description

This stabilized, multi-tenant office building presents a compelling investment opportunity in Pueblo, Colorado. Boasting a 13% cap rate and a strong NOI of $57,600, this 3,820 square foot property is situated on a 0.28-acre lot at 311 W 24th St, 81003, offering convenient access to I-25 and the city's business center. The building, constructed in 1956 and renovated in 1990, features nine units across one story, currently housing four tenants with 100% occupancy under gross leases. The property includes 13 parking spaces and recently underwent improvements, including resealing and painting the parking lot and updating/replacing HVAC systems. The building is classified as Class B and zoned B-4. The asking price is $440,000, translating to $24 per square foot. This is a turnkey investment with two long-term tenants and on-site property management. The property's strong performance and prime location make it an ideal addition to any commercial real estate portfolio. The property features a total of 3,820 square feet of net rentable space. No rent bumps are anticipated.

• CAP approach

  CAP return

  Valuation

  6%

  $835,565

  6.5%

  $771,290

  7%

  $716,198

• Comparable approach

  Method

  Valuation

  Relative Method

  $315,608

  Geo Method

  $315,608

• Alternative Use

  Use

  Valuation

  Residential

  $956,400

  Hospitality

  $876,057

  Educational

  $728,869

  Medical

  $753,936

  Retail

  $1,133,797

Location Insight

City

Pueblo

County

Pueblo

State

Colorado

Latitude

38.2914

Longitude

-104.612

CBSA code

39380

CBSA name

PUEBLO, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].