Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 2 County Road 37 Elbert, CO 80106

    View on Map
    Claim this Listing
    For Sale
    $340,000

    Land, Other - Elbert, CO

    Type:Unimproved Land
    Lot size:
    39.45 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    33
    Last Refresh:
    Apr 17 at 6:06 pm

    Property Features for Lot 2 County Road 37

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    2
    Lot size
    39.45 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jena Vail
    Jena Vail

    Listing agent Jena Vail

    Listing office Engel & Völkers Castle Pines 310 Wilcox St., Castle Rock, CO

    Listing date Mar 16, 2026

    MLS# 3031188 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Elbert County Agricultural Land Parcel

    This 39.45-acre parcel of agricultural land is located in Elbert County, offering rolling hills and open grassland with mountain views. Zoned for agriculture and fenced on two sides, the property has direct access off County Road 37. There is no HOA, no covenants, and no Metro District. A well can be drilled, septic can be installed, and satellite Wi-Fi is available. Two additional parcels are available for buyers looking to combine properties for a larger ranch.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Pet Store & Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elbert
    County
    El Paso
    State
    Colorado
    Longitude
    -104.498856
    Latitude
    39.167692

    Nearby Similar for Sale

    • $375,000

      Colorado Land with Mountain Views

      40-acre parcel near Elbert, CO, ideal for horses and cattle.
      Parcel 3 County Road 37, Elbert, CO 80106
      View Details
    • $350,000

      40 Acres in Diesel Truck Country

      40-acre parcel near Elbert, CO, with mountain views.
      Parcel 4 County Road 33, Elbert, CO 80106
      View Details
    • $200,000

      Land Near Palmer Divide Trail

      5.19 acre lot backing El Paso County trail.
      16115 Turftop Terrace, Elbert, CO 80106
      View Details
    • $350,000

      Land For Sale in Elbert

      39.19 acre land parcel in Elbert, Colorado.
      County Road 33, Elbert, CO 80116
      View Details
    • $240,000

      Land with Utilities and Views

      2.5 acre lot with utilities, riding trails, and great views.
      13650 Irish Hunter Trail, Elbert, CO 80106
      View Details
    • $325,000

      Land in Desirable Black Forest

      5-acre parcel near amenities, perfect for custom home and outdoor living.
      12095 Grandin Point, Elbert, CO 80106
      View Details
    • $325,000

      Land in Elbert, Colorado

      5-acre parcel in Black Forest area, ready for dream home.
      12015 Grandin Point, Elbert, CO 80106
      View Details
    • $225,000

      35 Acres in Staghorn Ranch

      Land with expansive views and adjudicated water rights.
      0 (Lot 3) County Road 102, Elbert, CO 80106
      View Details
    • $1,450,000
      6,250 SF

      Colorado Acreage with Horse Facilities

      Spacious 6-bedroom home on 20 acres with outbuildings.
      11430 Roslyn, Elbert, CO 80106
      View Details
    • $1,700,000
      2,800 SF

      Sweet Water Ranch Land Parcel

      35-acre ranch with barn near Castle Rock and Colorado Springs.
      10555 Big Sky Trail, Elbert, CO 80106
      View Details
    • $1,700,000
      2,800 SF

      35 Acre Ranch with Barn

      35 acre ranch with barn near Castle Rock.
      10555 Big Sky, Elbert, CO 80106
      View Details
    • $350,000

      40 Acres in Elbert, Colorado

      40-acre parcel near Elbert, CO, with mountain views.
      000 County Road 33, Elbert, CO 80016
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 39.45 acres of agricultural land with mountain views.
    Where is this agricultural land / farmland located?
    The property is located at Lot 2 County Road 37 Elbert, CO.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: No HOA, no covenants, and no Metro District provide true freedom and flexibility.; Zoned for Agriculture with rolling hills and open grassland, fenced on two sides.; Enjoy stunning mountain views and plenty of space.
    (719) 240-7212
    We can help!
    Listing Contact
    Jena Vail
    Jena Vail
    Real Estate License ID: 100100210
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!