Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    4.7 Acres Irrigated Land Parcel Title is generated by Realmo AI

    1442 K Street, Penrose, CO 81240

    View on Map
    Claim this Listing
    For Sale
    $125,000

    LAND - Penrose, CO

    Lot size:
    4.70 Acres
    Added:
    Mar 23, 2026
    Days on Market:
    54
    Last Refresh:
    May 14 at 11:06 pm

    Property Features for 1442 K Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    3937090015002
    Lot size
    4.70 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 2 SS SUB
    Tax Annual Amount
    10

    Utilities

    Utilities
    Phone Available

    We can help!

    Listing Contact
    Tony R. Greer
    Tony R. Greer

    Listing agent Tony R. Greer License #ER.040024209

    Listing office Keller Williams Performance Realty 901 Main Street, Canon City, CO

    Listing date Mar 23, 2026

    MLS# 3254044 Listing URL

    Copyright © 2026 Royal Gorge Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 9.4 total acres available when purchased with adjacent property (MLS#4720347).
    • 4.7 acres of irrigated land, ideal for agricultural use.
    • Fully fenced with level terrain and quality soil.
    • Suitable for pasture, hay production, or 4‑H projects.
    • Cross‑fenced for flexible management.
    • Easy access to Highway 50, Canon City, Pueblo, and Colorado Springs.

    Overview

    This 4.7-acre irrigated parcel, located just outside Penrose, Colorado, is fully fenced and ready to support agricultural goals. The level terrain, quality soil, and reliable irrigation source make the land ideal for pasture, hay production, or 4-H projects. It is a great fit for hobby farmers, horse owners, or anyone looking to enjoy more space. Located minutes from Highway 50, the property offers a peaceful setting with easy access to Canon City, Pueblo, and Colorado Springs. It features open skies and mountain views, providing a rural lifestyle with convenience. This irrigated land delivers the functionality and flexibility for raising animals, growing crops, or simply enjoying the extra space. The parcel is offered exclusively as a package with the adjacent 4.7-acre residential property, creating an opportunity to own a total of 9.4 irrigated acres in Fremont County. The combined acreage is cross-fenced for flexibility and ease of management, providing an outstanding foundation for a small farm or equestrian setup, with ample space for barns, corrals, gardens, and outdoor recreation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Gym & Fitness Center Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Penrose
    County
    Fremont
    State
    Colorado
    Longitude
    -104.999445
    Latitude
    38.406161

    Nearby Similar for Sale

    • $1,250,000
      8,660 SF

      Historic Penrose Commercial Building

      Unique commercial building with historic significance and development potential.
      708 Fremont St, Penrose, CO 81240
      View Details
    • $1,250,000
      2,000 SF

      Historic Building with Unique Features

      Historic South Colorado building with unique features and development potential.
      708 Fremont Street, Penrose, CO 81240
      View Details
    • $199,000

      Penrose Land with Highway Access

      2.72 acres with shop, utilities, and highway access.
      1390 K Street, Penrose, CO 81240
      View Details
    • $107,000

      Penrose, Colorado Build-Ready Land

      3.19-acre parcel ready for construction with mountain views.
      35 Top Rail Trail, Penrose, CO 81240
      View Details
    • $75,000

      Land For Sale in Penrose

      Land with mountain views near Canon City, Colorado.
      Highway 67, Penrose, CO 81240
      View Details
    • $100,000

      Highway Frontage Commercial Land Opportunity

      1.5-acre commercial site with high visibility and accessibility.
      100 Broadway, Penrose, CO 81240
      View Details
    • $100,000

      Penrose Land with Mountain Views

      2.78 acre lot with mountain views, no HOA.
      83 Top Rail Trail, Penrose, CO 81240
      View Details
    • $45,000

      Land in Penrose, Colorado

      Land for sale, 10 minutes from Canon City.
      County Road 123, Penrose, CO 81240
      View Details
    • $245,000

      28 Acres with Artesian Well

      Fenced land with hot mineral well near Highway 50.
      2 8th Street, Penrose, CO 81240
      View Details
    • $55,500

      Penrose Land with Mountain Views

      10-acre rural property in Penrose, Colorado, with mountain views.
      1374 C St, Penrose, CO 81240
      View Details
    • $55,500

      Penrose, Colorado 10-Acre Land

      10-acre rural property in Penrose, Colorado with mountain views.
      1374 C Street, Penrose, CO 81240
      View Details
    • $177,900

      35-Acre Mountain Subdivision Land Parcel

      35-acre mountain subdivision parcel with views of Arkansas River Valley.
      County Road 67, Penrose, CO 81240
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 4.7 acres of irrigated land near Highway 50.
    Where is this agricultural land / farmland located?
    The property is located at 1442 K Street Penrose, CO.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: 9.4 total acres available when purchased with adjacent property (MLS#4720347).; 4.7 acres of irrigated land, **ideal for agricultural use.**; **Fully fenced with level terrain and quality soil.**
    (719) 671-5250
    We can help!
    Listing Contact
    Tony R. Greer
    Tony R. Greer
    Real Estate License ID: ER.040024209
    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

    Thank You for Inquiry
    1442 K Street, Penrose, CO 81240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!