102 S Victoria Ave

Description

Positioned along the Pueblo Riverwalk in the heart of the Union Avenue Historic District, the Olde Towne Carriage House combines more than a century of Pueblo history with an established commercial operation and multiple in-place revenue streams. Originally constructed in 1892 as an extension of the Stewart Brothers' blacksmith and carriage business, the building has evolved into a distinctive mixed-use property while retaining much of the architecture and character that connect it to its original purpose. Today, the Carriage House encompasses more than 14,000 square feet across its main and upper levels, with approximately 7,000 square feet dedicated to commercial retail and office use and another approximately 7,000 square feet serving as an event and reception venue. The property also includes an unfinished basement that creates additional space for a future owner to evaluate for expansion or other income-producing uses. The upper level is home to an established wedding and event venue capable of accommodating up to approximately 300 guests. Exposed beams, brickwork, historic architectural details, and large windows create a setting that is difficult to replicate with newer construction, while updates throughout the space allow it to function for modern events. Views overlooking the Pueblo Riverwalk further connect the venue to one of downtown Pueblo's most recognizable destinations. The event space is suited for weddings, receptions, corporate gatherings, galas, private parties, meetings, and other large functions. An open catering policy allows clients to select the licensed caterer that fits their event, while on-site bar services provide another component of the venue's existing operation. Importantly, the event business comes with an existing client base and established revenue stream rather than simply providing vacant space for a future owner to build a venue from the ground up. At the same time, the venue is currently being utilized at a relatively low rate and has operated with limited advertising, creating considerable room for a new owner to explore additional bookings through increased marketing, expanded event programming, corporate functions, partnerships, and more consistent use of the space. The main level provides another established source of income through five individually leased retail and office suites. These spaces are occupied by separate businesses, creating multiple in-place revenue streams under one roof and helping diversify the property's income beyond the event operation. For an investor, the combination of existing commercial tenants and an operating venue provides a compelling structure, with a solid cap rate and return profile based on current operations while still leaving avenues to pursue additional revenue. Rather than relying on a single tenant or business use, the Carriage House offers several components working together. The five commercial suites provide recurring lease income, while weddings and events contribute a separate operating revenue stream. This mixed-use configuration can help provide a more diversified income base, while the property's location, historic identity, and underutilized portions offer opportunities for a future owner to build upon what is already established. The unfinished basement may be one of the property's more interesting opportunities for future growth. While currently unfinished, the additional area provides space that a buyer could evaluate for uses that complement the existing businesses and venue. Subject to zoning, building requirements, permitting, and other necessary approvals, potential concepts could include additional commercial space, storage, event-related uses, or other revenue-producing improvements. The basement gives a future owner another avenue to consider without changing the successful uses already operating on the main and upper levels. Location is another important part of the property's appeal. Situated directly along the Pueblo R