Equipped Flex Space with
For Sale
$229,000
401 Cheyenne Street, Calhan, CO 80808
Utility-served property with a heated shop, bathroom, and included workspace equipment.
Property Size1,156 SF
Price / SF$198.10
Days on Market245
Property Features for 401 Cheyenne Street
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Land
Zoning
SF
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$345
Amenities
Sewer Tap Paid, Underground Utilities, Water Tap Paid
AC welder, Ladders, Work benches, Zero-turn mower, Air compressor, Drill press, RV hookup
Building Details
Buildings
1
Building Size
1,156 SF
Listing Agency:
The Cutting Edge
Listed By:
Taryn Simental · License #100053093
(719) 201-4231
Source:
Compass
Added: Feb 15
Changed: Oct 16
Last Checked: Oct 16 at 10:57AM
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 The Cutting Edge
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Investment Insights
Based on property information with market context.
This flex space property includes a 34x34 shop with 220 power, propane furnace heat, and a wood-burning stove. The building also has a bathroom, while multiple water hydrants are located on and behind the lot. Included equipment consists of work benches, a zero-turn mower, AC welder, air compressor, drill press, and ladders.
Water, sewer, electric, and propane service are in place, with paid taps and underground utilities. The property is located at 401 Cheyenne Street in Calhan, Colorado, providing an existing utility and shop configuration for commercial workspace use.
Water, sewer, electric, and propane service are in place, with paid taps and underground utilities. The property is located at 401 Cheyenne Street in Calhan, Colorado, providing an existing utility and shop configuration for commercial workspace use.
Key Highlights
- 34x34 shop with 220 power, propane furnace heat, and wood‑burning stove
- Water, sewer, electric, and propane utilities in place
- Bathroom inside the shop and multiple water hydrants on and behind the lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,318
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,360
$166.4K
Cap Rate 7%
$118,829
$118.8K
Cap Rate 9%
$92,422
$92.4K
Market Conditions
NOI Build-Up for 1,156 SF
Gross rent
$13.4K $11.58/SF
− Vacancy
−$589 −$0.51/SF
EGI
$12.8K $11.07/SF
− OpEx
−$4.5K −$3.87/SF
NOI
$8.3K $7.20/SF
Area
El Paso County, CO
Vacancy
4.40%
Lease Rate
$11.58 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,360
Cap Rate 7%
$118,829
Cap Rate 9%
$92,422
Alternative Uses
Best Use
Flex RnD
$118.8K
$104.0K – $138.6K
NOI $8,318 @ 7.0% cap · market cap 3.63%
Second Best
Industrial
$113.4K
$99.3K – $132.3K
NOI $7,940 @ 7.0% cap · market cap 3.47%
Theoretical Best
Multifamily LT 5
$15.41M
$13.49M – $17.98M
NOI $1,079,045 @ 7.0% cap · market cap 471.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 80808, CO
6,990
Population
2,631
Households
2.7
Avg Household Size
41
Median Age
20%
College-Educated
91%
High-School Grad
390.9 sq mi
ZIP Area
18
Density / Sq Mi
$72,891
Median Household Income
$40,992
Median Earnings
$970
Median Rent
$328,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Utility-served property with a heated shop, bathroom, and included workspace equipment.
Where is this flex space located?
The property is located at 401 Cheyenne Street Calhan, CO.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 34x34 shop with 220 power, propane furnace heat, and wood‑burning stove; Water, sewer, electric, and propane utilities in place; Bathroom inside the shop and multiple water hydrants on and behind the lot
