Warehouse Property with Metal
21875 E Highway 24, Peyton, CO 80831
For Sale
$825,000
Pending
Land, Peyton, CO
Property Size10,800 SF
Lot Size35.00 Acres
Days on Market187
Property Features for 21875 E Highway 24
General Information
Property type
Property subtype
Lot features
Elementary school district
Middle school district
High school district
Standard status
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Additional Structures
Listing Agency:
Equity Colorado Real Estate
(720) 722-3209
Listed By:
Karen Benenati · License #IRE034486
(719) 661-1566
Added: May 4
Changed: Oct 8
Last Checked: Nov 6 at 10:06PM
MLS# 3937455
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 35-acre property includes two metal buildings suited to warehouse, storage, agricultural, or business-related operations, subject to applicable approvals. The improvements include an insulated 60-by-60-foot building with a full bathroom and a 60-by-120-foot building. A separate newer structure on skids provides additional flexible space and may serve as an office or meeting room. The site also has 3-phase electric service, an engineered septic system sized for up to 10 employees, and a permitted well with specified commercial, residential, animal, and irrigation uses.
The property fronts Highway 24 just east of Falcon in Peyton, with mountain views and no HOA or covenants. It is zoned A-35 Agriculture, while the assessor identifies the current land use as Commercial Warehouse/Storage. Prior operations included woodworking and U-Haul businesses, and a previous owner held a special use permit for a lumberyard.
The property fronts Highway 24 just east of Falcon in Peyton, with mountain views and no HOA or covenants. It is zoned A-35 Agriculture, while the assessor identifies the current land use as Commercial Warehouse/Storage. Prior operations included woodworking and U-Haul businesses, and a previous owner held a special use permit for a lumberyard.
Key Highlights
- 35 acres with Highway 24 frontage just east of Falcon
- Two metal buildings: 60x60 and 60x120
- 60x60 building is insulated and includes a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,183
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,483,660
$1.5M
Cap Rate 7%
$1,059,757
$1.1M
Cap Rate 9%
$824,256
$824.3K
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$125.7K $11.64/SF
− Vacancy
−$19.7K −$1.83/SF
EGI
$106.0K $9.81/SF
− OpEx
−$31.8K −$2.94/SF
NOI
$74.2K $6.87/SF
Area
El Paso County, CO
Vacancy
15.70%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,483,660
Cap Rate 7%
$1,059,757
Cap Rate 9%
$824,256
Alternative Uses
Best Use
Warehouse
$1.45M
$1.27M – $1.69M
NOI $101,627 @ 7.0% cap · market cap 12.32%
Second Best
Flex RnD
$1.11M
$971.4K – $1.30M
NOI $77,715 @ 7.0% cap · market cap 9.42%
Theoretical Best
Multifamily LT 5
$144.01M
$126.01M – $168.02M
NOI $10,081,043 @ 7.0% cap · market cap 1,221.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80831, CO
32,823
Population
11,148
Households
2.9
Avg Household Size
37
Median Age
41%
College-Educated
97%
High-School Grad
188.6 sq mi
ZIP Area
174
Density / Sq Mi
$128,900
Median Household Income
$61,421
Median Earnings
$2,388
Median Rent
$495,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Warehouses in El Paso County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Warehouse - A-35-zoned warehouse property with substantial outbuildings, Highway 24 frontage, and prior commercial warehouse and woodworking uses.
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 acres with Highway 24 frontage just east of Falcon; Two metal buildings: 60x60 and 60x120; 60x60 building is insulated and includes a full bathroom
