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

    21875 Us Highway 24 E Peyton, CO 80831

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $825,000

    35 acres with two metal buildings near Highway 24.

    Lot size:
    35.00 Acres

    Property Features for 21875 Us Highway 24 E

    General Information

    Standard status
    Contract
    Lot size
    35.00 Acres

    We can help!

    Listing Contact
    Karen Benenati
    Karen Benenati
    Source: Corcoran

    Listing Agency: Equity Colorado Real Estate Listing Agent: Karen Benenati

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

    Learn more

    Overview

    Usable Acres with Metal Buildings

    This property features 35 usable acres with two large metal buildings, presenting numerous possibilities. Zoned A-35 (Agriculture), the property allows for potential commercial, manufacturing, storage, agriculture business, and 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." Prior businesses included woodworking and U-Haul operations. The property includes a 60x60 insulated building with a full bathroom and a 60x120 building, both suitable for various uses. An additional newer building on skids offers potential as an office or meeting room. The property is equipped with 3-Phase Electric and a newer engineered septic system designed for up to 10 employees. The well permit supports the previous owner's commercial wood business, water usage for two single-family dwellings, watering of domestic animals, and irrigation of 3,000 square feet of lawn and garden. The location offers beautiful mountain views and highway frontage just east of Falcon. The property has farm, ranch, livestock, and commercial business potential, with no HOA or covenants.
    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
    -104.42557
    Latitude
    39.02438

    Nearby Similar for Sale

    • $360,000

      Aircraft Hangar on Private Airport

      3,428 SF hangar with heated office on private airport.
      7989 Cessna Dr, Peyton, CO 80831
      View Details
    • $999,000
      1,288 SF

      Established Organic Farm Opportunity

      40-acre organic farm with extensive infrastructure and residential home.
      7545 Log Rd, Peyton, CO 80831
      View Details
    • $2,250,000
      5.17 Acres

      Mixed-Use Property with Highway Frontage

      Rare mixed-use property with excellent highway frontage and visibility.
      18590 Hwy E, Peyton, CO 80831
      View Details
    • $2,100,000
      3,135 SF

      Industrial Property on 5 Acres

      Industrial property with three buildings totaling 3,135 square feet.
      12825 Judge Orr Rd, Peyton, CO 80831
      View Details
    • Contact for pricing

      Specialty Property For Sale

      Specialty property available for sale in Peyton, Colorado.
      11401 E Us Highway 24, Peyton, CO 80831
      View Details
    • $999,000
      1,288 SF

      Established Organic Farm with Greenhouses

      40-acre organic farm with extensive infrastructure and residential home.
      7545 Log Rd, Peyton, CO 80831
      View Details
    • $999,000

      Established Organic Farm with CSA

      40-acre organic farm with infrastructure and community ties.
      7545 Log Rd, Peyton, CO 80831
      View Details
    • Contact for pricing
      13,698 SF

      Falcon, Colorado Retail and Auto

      13,698 SF retail and auto property in Falcon, Colorado.
      10755-10759 Maltese Pt, Peyton, CO 80831
      View Details
    • $2,999,000

      Event Center with Custom Home

      41+ acre event center property with custom home.
      6275 N Meridian Rd, Peyton, CO 80831
      View Details
    • $2,900,000
      2,655 SF

      Windsong Ranch with Indoor Arena

      30-acre ranch featuring a 50,000 sq ft indoor arena.
      3250 Slocum Rd, Peyton, CO 80831
      View Details
    • $360,000

      Airplane Hangar at Meadow Lake

      Spacious hangar with power door and taxiway access.
      7989 Cessna Dr, Peyton, CO 80831
      View Details
    • $370,000

      Airplane Hangar at Meadow Lake

      Spacious hangar with power door and taxiway access.
      7989 Cessna Dr, Peyton, CO 80831
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 35 acres with two metal buildings near Highway 24.
    Where is this agricultural land / farmland located?
    The property is located at 21875 Us Highway 24 E 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 Highway 24 frontage and mountain views.; - Two large metal buildings (60x60 insulated with bathroom and 60x120).; - Zoned A-35 (Agriculture) with potential for commercial, manufacturing, storage, and agricultural business uses.
    (719) 661-1566
    Request Owner's contact information
    21875 Us Highway 24 E Peyton, CO 80831
    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.
    21875 Us Highway 24 E
    Peyton, CO 80831
    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
    21875 Us Highway 24 E Peyton, CO 80831
    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

    We can help!
    Listing Contact
    Karen Benenati
    Karen Benenati
    Real Estate License ID: 40034486
    (719) 661-1566 (720) 722-3209 (719) 358-8381
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!