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$9,550,000
367 Days Online

Drennan Road
Colorado Springs, CO 80928

For Sale|Land|Under Contract Showing
Subdivision:
None
County:
El Paso
Listing courtesy of Exp Realty LLC

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Drennan RoadDrennan RoadDrennan RoadDrennan Road
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Stunning views and close proximity to burgeoning development around the Colorado Springs Airport make this 640 acre property an ideal candidate for comprehensive development with relatively high density housing options (12 minutes to Amazon, 15 to COS airport, 5 min to Schriever). Current property owners are moving forward with annexation plan and are additionally working on creation of comprehensive land use/development plan. Annexation expected to occur in approximately 24 months and city/county approved development plan is expected to be complete around same time. Water rights available but not adjudicated; in addition to strong existing well on-site, current owners drilled second well and have comprehensive hydrology report. Mineral and water rights have never been severed and run w/ land. One notable feature is that parcel is surrounded almost entirely by State or COS Utility property because there is 800 acre reservoir being installed less than one mile West of property; reservoir doesn’t have an official install date, but is "coming soon." This development will be closest development to the reservoir; intention is to work with CSU and state to create walking/biking paths connecting subject property with recreational areas of reservoir. Adjacent vacant land parcels and reservoir ensure that stunning front range and Pikes Peak views will remain unspoiled. Current owners are proceeding with development, but remain open to a full sale of the property, partial sale of the holding company to the right investor, or a deal with a development partner. Current list price is reflective of initial planning phase which contemplate a mixed use property with a range of housing applications. This includes everything from larger “estate” lots, standard single family residential, higher density townhome and patio home projects, and affordable housing options mixed with premium luxury in a cluster of high rise buildings with ground floor commercial space.

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Listing Snapshot
Price 
$9,550,000
Days Online 
367 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
640 Acres
Year Built 
N/A
MLS Number 
3745085
Status 
Under Contract Showing
Property Tax 
$239
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
2 weeks agoListing updated with changes from the MLS
2 weeks agoStatus changed to Under Contract - Showing
8 months agoStatus changed to Active
8 months agoPrice changed to $9,550,000
a year agoListing first seen online
General Features
Acres 
640.0
Water 
Well-Active
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Exterior Features
Lot 
360-degree ViewBacks to City/Cnty/State/Natl OSCity ViewMountain ViewView of Pikes Peak
Community Features
Notices 
Corporate Owned
School District 
Ellicott-22
Schools
School District
Ellicott-22
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of Exp Realty LLC

Properties For Sale Listings

The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any offer of compensation is made only to Participants of the PPMLS. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp. Copyright 2022
Data last updated at: 2022-10-01 04:30 AM UTC

Neighborhood & Commute
Source: Walkscore
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