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$4,999,999 -$500,001 (-9.09%) Price Reduced
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Property Description
DEVELOPMENT POTENTIAL! This 35-acre parcel presents a rare and strategic opportunity for developers seeking to capitalize on the explosive growth between Colorado Springs and Falcon. Located just minutes from both markets, the property sits in the heart of one of El Paso County's fastest-developing corridors, where residential subdivisions, retail centers, and mixed-use projects are rapidly expanding to meet increasing demand. With two existing wells and water rights, this property offers a critical head start in a region where water access often defines the pace and scope of development. Potential for a variety of commercial uses-including retail centers, light industrial, mixed-use developments, or even a master-planned community with integrated commercial zones. The proximity to Powers Boulevard, Highway 24, and the ever-expanding Falcon Town Center makes this parcel especially attractive for developers looking to serve the growing population east of Colorado Springs. The area is already seeing substantial investment in infrastructure and services, creating a strong foundation for future growth. Given its size, access to water, and prime location, this property is perfectly positioned to meet the region's surging demand. Access to a regional airport, as well as an international airport. This parcel offers the space, resources, and location to support a bold vision.
Full Property Details
Full Property Details for 10985 E Hwy 24
General
- Price: $4,999,999
- Taxes: $929 (2024)
- Status: Active
- Type: Lots/Land
- Source: PikesPeak
- MLS ID: 8842606
- Updated: 7/7/2026
- Added to Site: 387 day(s) ago
Location
- County: El Paso
- Subdivision: Falcon
School Information
- School District: District 49
Utilities
- Water: Well (Active)
Lot Features
- Lot Size (Acres): 35
- Lot Size (Sq. Ft.): 1,524,600
- Topography: Level, Meadow, Rolling, Sloping, See Remarks
- Lot Features: Additional Water Rights, Perimeter Fence, Horses Allowed, Manu Homes Allowed, See Remarks
- Lot Description: 360-Degree View, Level, Meadow, Rural, Sloping, View of Pikes Peak, See Remarks
Financial Considerations
- Assoc Fee Freq.: Not Applicable
- Tax Amount: $929.58
- Tax Year: 2024
Listed by Colorado Lifestyle Properties
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Schools
Schools serving 10985 E Hwy 24
School District:Falcon School District 49
| Name | Grades | Distance |
|---|---|---|
Falcon Elementary School Of Technology 12050 Falcon Highway, Falcon, CO 80831 | PK-5 | 1.3 mi |
Falcon Middle School 9755 Towner Avenue, Peyton, CO 80831 | 6-8 | 3.9 mi |
Falcon High School 10255 Lambert Road, Peyton, CO 80831 | 9-12 | 5 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 10985 E Hwy 24
Date
Details
Price
Change
Source
7/07/2026
Price Reduced
$4,999,999
-9.09%
MLS
6/15/2025
Listed
$5,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 10985 E Hwy 24
Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,199
29%
$17,670
—
2024
$930
—
$17,670
5%
2024
$930
—
$16,800
—
2023
$927
-7%
$16,800
17%
2021
$998
4%
$14,420
3%
2022
$958
-4%
$14,010
9%
2021
$998
12%
$12,910
—
2019
$889
-2%
$12,910
-1%
2018
$910
9%
$13,000
—
2017
$832
-4%
$13,000
-3%
2016
$866
—
$13,340
—
2015
$867
-2%
$13,340
—
2014
$883
—
$13,340
—
2013
$880
—
$13,340
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 10985 E Hwy 24
10985 E Highway 24, Peyton, CO 80831 (MLS# 8842606) is a Lots/Land property with a lot size of 35.0000 acres. 10985 E Highway 24 is currently listed for $4,999,999 and was received on June 15, 2025. Want to learn more about 10985 E Highway 24? Do you have questions about finding other Lots/Land real estate for sale in Peyton? You can browse all Peyton real estate or contact a Coldwell Banker agent to request more information.

