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    Peyton Land with Metal Buildings Title is generated by Realmo AI

    21875 E Highway 24, Peyton, CO 80831

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    Claim this Listing
    Pending
    $825,000

    LAND - Peyton, CO

    Lot size:
    35.00 Acres
    Added:
    May 4, 2026
    Days on Market:
    30
    Last Refresh:
    Jun 2 at 1:06 am

    Property Features for 21875 E Highway 24

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    35.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2674

    Building Details

    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Karen Benenati
    Karen Benenati

    Listing agent Karen Benenati License #40034486

    Listing office Equity Colorado Real Estate 7887 E Bellview Ave Ste 175, Denver, CO

    Listing date May 4, 2026

    MLS# 3937455 Listing URL

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

    HighLights

    • 35 usable acres with A‑35 zoning offering potential for commercial, manufacturing, storage, agriculture, or animal‑related businesses.
    • Two large metal buildings (60x60 insulated with bathroom and 60x120) are suitable for various uses.
    • Highway 24 frontage location east of Falcon with beautiful mountain views.
    • Benefit from 3‑Phase Electric and newer engineered septic system for up to 10 employees.
    • Well permit allows for commercial use, water for two dwellings, animal watering, and irrigation.
    • No HOA or covenants, offering flexibility for property use.

    Overview

    This 35-acre property in Peyton, Colorado, features two metal buildings, one measuring 60x60 and another 60x120. The 60x60 building is insulated and includes a full bathroom. There is also a newer building on skids that can be moved and used as an office or meeting room. Zoned A-35 (Agriculture), the property offers potential for commercial, manufacturing, storage, agriculture business, or horse and dog training/boarding facilities. Previous owners obtained a special use permit for a lumberyard, and the current land use is listed as "Commercial Warehouse/Storage." Past businesses on the property include woodworking and U-Haul operations. The property includes 3-Phase Electric and a newer engineered septic system designed for up to 10 employees. The well permit allows for the use of water for two single-family dwellings, watering of large non-commercial domestic animals, and irrigation of 3,000 square feet of lawn and garden. Located with frontage on Highway 24 just east of Falcon, the property offers mountain views and is without HOA or covenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    HVAC Service Garden Center Car Rental Facility Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Peyton
    County
    El Paso
    State
    Colorado
    Longitude
    -104.418575
    Latitude
    39.023533

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    FAQs

    What type of property is this?
    Warehouse - 35-acre property with two large metal buildings near Highway 24.
    Where is this warehouse located?
    The property is located at 21875 E Highway 24 Peyton, CO.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: 35 usable acres with A‑35 zoning offering potential for commercial, manufacturing, storage, agriculture, or animal‑related businesses.; Two large metal buildings (60x60 insulated with bathroom and 60x120) are suitable for various uses.; Highway 24 frontage location east of Falcon with beautiful mountain views.
    (720) 722-3209
    We can help!
    Listing Contact
    Karen Benenati
    Karen Benenati
    Real Estate License ID: 40034486
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    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.

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    21875 E Highway 24, Peyton, CO 80831
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