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

    2 Garland Elizabeth, CO 80107

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $220,000

    Land parcel in the heart of Elizabeth near Highway 86.

    Type:Land or Vacant Lot
    Lot size:
    1.50 Acres
    Added:
    Dec 29, 2025
    Days on Market:
    109
    Last Refresh:
    Apr 5 at 10:18 pm

    Property Features for 2 Garland

    General Information

    Standard status
    Active
    Lot size
    1.50 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    DEBORAH ULLOM

    Listing agent DEBORAH ULLOM License #100030856

    Listing office Lifetime Properties

    Listing date Dec 29, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Lifetime Properties

    Overview

    Land Parcel in Elizabeth Heart

    This parcel is located in the heart of Elizabeth. The property is bordered on the east side by Running Creek and is situated a few hundred feet from Highway 86. It has CMU zoning, which encourages live/work situations along with multi-family housing. Located in one of the fastest-growing communities of Elbert County, this parcel presents an investment opportunity. The CMU uses are vast, and potential uses can be discussed with the Town of Elizabeth. Water and sewer are located in Garland Street, but taps have not been purchased.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop Kitchen & Bath Showroom Hotel & Motel Electrical Service Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Elbert
    State
    Colorado
    Longitude
    -104.559
    Latitude
    39.4063

    Nearby Similar for Sale

    • $24
      14,767 SF

      Elizabeth Retail Center For Sale

      Prime shopping destination anchored by Safeway in Elizabeth, Colorado.
      210-240 S. Elizabeth Street, Elizabeth, CO 80107
      View Details
    • $1,000,000
      5,200 SF

      Stabilized Multifamily Investment Opportunity

      Well-maintained 8-unit property with strong rental demand in Elizabeth, CO.
      490 E Elm Street, Elizabeth, CO 80107
      View Details
    • $300,000

      Elizabeth Land Opportunity

      Two parcels in the heart of Elizabeth, Colorado.
      102 Garland, Elizabeth, CO 80107
      View Details
    • $3,600,000

      Colorado Equestrian Retreat on 40 Acres

      Private 40-acre equestrian retreat with income potential near Elizabeth, CO.
      5350 Taylor Renee Cir, Elizabeth, CO 80107
      View Details
    • $980,000
      3,304 SF

      Bucolic 40-Acre Horse Property

      40-acre property with Front Range views, outbuilding, and pasture.
      5228 Richards, Elizabeth, CO 80107
      View Details
    • $1,250,000
      3,468 SF

      Turnkey Horse Property Near Elizabeth

      Upgraded equestrian facilities, ranch-style home, and convenient location.
      2560 Gold Creek, Elizabeth, CO 80107
      View Details
    • $1,499,999
      4,393 SF

      Equestrian Estate with Mountain Views

      Nearly 10-acre horse property with modern home and facilities.
      1498 Santa Fe, Elizabeth, CO 80107
      View Details
    • $220,000

      Commercial Land in Growing Elizabeth

      Commercial land with direct access to Garland Street.
      1 Garland, Elizabeth, CO 80107
      View Details
    • $235,000

      Commercial Lot in Elizabeth, Colorado

      Commercial lot in Elizabeth Crossroads Business Park, build ready.
      799 Crossroads, Elizabeth, CO 80107
      View Details
    • $478,500

      Elizabeth, Colorado 10-Acre Land Parcel

      Secluded 10-acre parcel with water rights in Elizabeth, Colorado.
      35501 Cheyenne, Elizabeth, CO 80107
      View Details
    • $478,500

      Elizabeth CO Land Opportunity

      10-acre parcel with water rights in Elizabeth, Colorado.
      35501 Cheyenne Trail, Elizabeth, CO 80107
      View Details
    • $199,900

      Prime Commercial Lot in Elizabeth

      Versatile 0.65-acre commercial lot in Elizabeth Crossroads.
      767 Crossroads, Elizabeth, CO 80107
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land parcel in the heart of Elizabeth near Highway 86.
    Where is this commercial land located?
    The property is located at 2 Garland Elizabeth, CO.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: CMU zoning allows for live/work situations and multi‑family housing.; Located in the heart of Elizabeth, one of the fastest‑growing communities in Elbert County.; Significant investment opportunity due to community growth.
    (303) 621-8500
    We can help!
    Listing Contact
    DEBORAH ULLOM
    Real Estate License ID: 100030856
    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!