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New Construction Homes in Penrose, CO

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    $50,000 Lot/Land

    000 Vietnam Veterans Memorial Hwy, Penrose, CO 81240

    • 3,920 Sq Ft
    • $555,556 per Acre

    Prime Highway 115 Visibility – Small Lot, Big Opportunity! Don't let the size fool you—this small but mighty lot offers exceptional visibility right off Highway 115, making it a strategic spot for signage, small business potential, or investment. With high traffic exposure and easy access, it's an ideal location to get noticed. Whether you're looking to advertise, build, or hold, this highly

    Agent Photo

    Tyson Cool

    Properties Of Colorado CC

    (719) 417-9057

    000 Vietnam Veterans Memorial Hwy, Penrose, CO 81240
  • /30

    $490,000 Lot/Land

    21691 County Road 67, Penrose, CO 81240

    • 40 Acres
    • $12,250 per Acre

    Incredible OFF-THE-GRID mountain retreat on 40 acres with BLM land on two sides featuring SOLAR, PROPANE, and NATURAL SPRING. This property allows the hustle and bustle of everyday life to slow down as you soak in the natural beauty of all Colorado has to offer. Tucked away on the land is a two story cabin style home. The main level walks into a covered and heated front porch. Through the front

    Jeremy Peeler eXp Realty Land & Ranch

    21691 County Road 67, Penrose, CO 81240
  • /8

    $120,000 Lot/Land

    0 J St, Penrose, CO 81240

    • 5 Acres
    • $24,000 per Acre

    This 5 acre parcel is conveniently located in the heart of Penrose, comes with 5 shares of Beaver Park irrigation with gated irrigation pipes and would be a great lot for a new build with mountain views! No other utilities installed; public water, public gas, public electric, cable, phone, etc. available and are to be installed by buyer. Boundaries are marked and survey recently done and

    Michael D Galpin Galpin Real Estate

    0 J St, Penrose, CO 81240
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    $45,000 Lot/Land

    TBD County Road 123, Penrose, CO 81240

    • 2.2 Acres
    • $20,455 per Acre

    PICK YOUR LOT!! Eighteen 1.98 acre to 2.51 acre lots individually priced at $45,000 each. Located only 10 minutes from Canon City, offering quiet rural living with 360 degree views of the surrounding Colorado mountains. Exceptional sunrises & sunsets await! Great place for new home or shop location. No HOA or covenants to allow more uses of the land. Electricity is being install within 330 feet

    Lance Tomar Frontier West Realty

    TBD County Road 123, Penrose, CO 81240
  • /2

    $250,000 Lot/Land

    000 11th St, Penrose, CO 81240

    • 20 Acres
    • $12,500 per Acre

    Discover the unmatched potential of this stunning 20-acre property, split evenly on each side of 11th Street and nestled in the heart of Colorado’s serene high desert landscape. With 10 acres on either side, this unique parcel offers flexibility for a variety of uses — build your dream home, establish a hobby farm, or develop a retreat that embraces the peace and beauty of the surrounding

    Sam Banning HomeSmart Preferred Realty

    000 11th St, Penrose, CO 81240
  • /15

    $175,000 Lot/Land

    0 Unknown Unit 3237167, Penrose, CO 81240

    • 40 Acres
    • $4,375 per Acre

    Step into Colorado’s past with this distinctive land parcel in the historic town of Wilbur. A BLM berm-built stock pond brings both function and character, while the terrain unfolds in a natural blend of open grassland and scattered pines. Some areas invite you to wander, others feel tucked away and quiet, creating a setting that works just as well for an off-grid homesite as it does for a

    Travis Fraker Redfin Corporation

    0 Unknown Unit 3237167, Penrose, CO 81240
  • /15

    $199,000 Lot/Land

    1390 K St, Penrose, CO 81240

    • 2.72 Acres
    • $73,162 per Acre

    The property at 1390 K Street in Penrose, Colorado, offers 2.72 acres of picturesque land. This expansive lot provides ample space for various outdoor activities and potential development. The property includes a substantial shop, ideal for storage, hobbies, or business operations. Located on the corner of highway 50 and 1 mile from from Highway 115, it offers convenient access to Colorado

    Sandy Smith Properties Of Colorado Inc

    1390 K St, Penrose, CO 81240
  • /5

    $245,000 Lot/Land

    2 8th St, Penrose, CO 81240

    • 27.93 Acres
    • $8,772 per Acre

    Welcome to LightSpring Property with 28 acres of fenced land. Features a non-sulfur 92 degree Hot Mineral Artesian Well flowing continuously from 980 feet below. The well boasts 75 gallons per minute adjudicated water right that is purposed for medicinal and irrigation. An annual 121 AF per year! Multiple possibilities including an excellent location for Solar and Wind farm/agrivoltiac/indoor

    Randy Brady BRADY REALTY

    2 8th St, Penrose, CO 81240
  • /20

    $75,000 Lot/Land

    TBD Colorado 67, Penrose, CO 81240

    • 5 Acres
    • $15,000 per Acre

    PICK YOUR LOT!! Sixteen 5.01 acre to 5.06 acre lots individually priced at $75,000 each. Located 10 minutes from Canon City offering quiet rural living with 360 degree views of the surrounding Colorado mountains. Exceptional sunrises and sunsets await! Great place for new home or shop location. No HOA or covenants to allow more uses of the land. Electricity is being installed within 330 feet of

    Lance Tomar Frontier West Realty

    TBD Colorado 67, Penrose, CO 81240
  • /13

    $100,000 Lot/Land

    83 Top Rail Trail, Penrose, CO 81240

    • 2.78 Acres
    • $35,971 per Acre

    Premier 2.78 acre lot in Top Rail Ranch Estates! Beautiful mountain views along with gorgeous sunrises and sunsets. Centrally located between Canon City, Pueblo & Colorado Springs. Protective covenants which will help protect your homes value. No HOA! Wide open spaces with room for your horses and RVs. Under ground utilities! Drive-by and see where your next dream home will be located!!

    Suzi Adamson All Seasons LLC.

    83 Top Rail Trail, Penrose, CO 81240
  • /5

    $55,500 Lot/Land

    1374 C St, Penrose, CO 81240

    • 10 Acres
    • $5,550 per Acre

    This private, rural 10-acre property in Penrose Colorado has so much to offer and is contiguous and listed alongside residential listing at 358 13th Street, for a total of 40 acres with all four 10-acre parcels combined. You’ll fall in love with the biggest skies and 360-degree mountain views you can imagine. Almost fully fenced and cross fenced, with some electric fencing included along with a

    Jenny Gatzke HomeSmart Preferred Realty

    1374 C St, Penrose, CO 81240
  • /2

    $100,000 Lot/Land

    100 Broadway, Penrose, CO 81240

    • 1.37 Acres
    • $72,993 per Acre

    Prime Highway 115 frontage in the growing community of Penrose presents a rare opportunity to secure a highly visible commercial site with exceptional accessibility and long-term upside. This approximately 1.5-acre parcel is zoned Business and offers egress from at least two sides, making it ideal for a wide range of commercial uses that benefit from strong traffic flow and easy customer access.

    Tony Greer Keller Williams Performance Realty

    100 Broadway, Penrose, CO 81240
  • /15

    $175,000 Lot/Land

    0 Unknown Unit 5317429, Penrose, CO 81240

    • 40 Acres
    • $4,375 per Acre

    Step into Colorado’s past with this distinctive land parcel in the historic town of Wilbur. A BLM berm-built stock pond brings both function and character, while the terrain unfolds in a natural blend of open grassland and scattered pines. Some areas invite you to wander, others feel tucked away and quiet, creating a setting that works just as well for an off-grid homesite as it does for a

    Travis Fraker Redfin Corporation

    0 Unknown Unit 5317429, Penrose, CO 81240
  • /2

    $225,000 Lot/Land

    TBD 11th St, Penrose, CO 81240

    • 20 Acres
    • $11,250 per Acre

    Discover the unmatched potential of this stunning 20-acre property, split evenly on each side of 11th Street and nestled in the heart of Colorado’s serene high desert landscape. With 10 acres on either side, this unique parcel offers flexibility for a variety of uses — build your dream home, establish a hobby farm, or develop a retreat that embraces the peace and beauty of the surrounding

    Sam Banning Homesmart Preferred Realty

    TBD 11th St, Penrose, CO 81240
  • /3

    $54,500 Lot/Land

    380 13th St, Penrose, CO 81240

    • 10 Acres
    • $5,450 per Acre

    Excellent 10-acre parcel in a unbelievably private location in Penrose Colorado, with big sky and mountain views! This 10-acres is being offered alongside the residential listing at 358 13th St, in addition to two other contiguous 10-acre parcels, for a total of 40 acres with all four 10-acre parcels combined. Includes some electric fencing, and is fenced and cross-fenced making it ideal for

    Jenny Gatzke HomeSmart Preferred Realty

    380 13th St, Penrose, CO 81240
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    $177,900 Lot/Land

    TBD County Road 67, Penrose, CO 81240

    • 35 Acres
    • $5,083 per Acre

    eFind your private escape at SPUR CROSS RANCH, a new 35-acre mountain subdivision with six exclusive parcels. Imagine waking up to sweeping views of the Arkansas River Valley and the Wet Mountain Range from your custom-built dream home. Each property offers abundant space and distinct natural features, ensuring privacy and tranquility. Located just a short drive from U.S. Highway 50 on County

    Michael Butts Frontier West Realty

    TBD County Road 67, Penrose, CO 81240
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    $54,900 Lot/Land

    340 13th St, Penrose, CO 81240

    • 10 Acres
    • $5,490 per Acre

    10-acre parcel in Penrose, Colorado with open prairie-style terrain, big sky, and mountain views. No HOA or restrictive covenants The property comes fully fenced with a gate on the north and south sides, making it ready for livestock, horses, or anyone who wants a secured piece of rural land from day one. Electricity is already at the lot line, which is a genuine advantage over comparable parcels

    Andrew Vascassenno eXp Realty, LLC

    340 13th St, Penrose, CO 81240
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    $50,000 Lot/Land

    0 14th St, Penrose, CO 81240

    • 10 Acres
    • $5,000 per Acre

    Fabulous 10-acre property !! Remote parcel yet minutes from the highway! Would be decent travel times to the Colorado Springs, Pueblo and Canon. Lots of trees and vegetation toward the East side. Great Mountain views!

    Suzi Adamson All Seasons LLC

    0 14th St, Penrose, CO 81240
  • /11

    $50,000 Lot/Land

    TBD 14th St, Penrose, CO 81240

    • 10 Acres
    • $5,000 per Acre

    Fabulous 10-acre property priced to sell!! Remote parcel yet minutes from the highway! Would be decent travel times to the Colorado Springs, Pueblo and Canon. Lots of trees and vegetation toward the East side. Great Mountain views!

    Suzi Adamson All Seasons Llc

    TBD 14th St, Penrose, CO 81240
  • /4

    $107,000 Lot/Land

    35 Top Rail Trail, Penrose, CO 81240

    • 3.19 Acres
    • $33,542 per Acre

    Build-ready 3.19-acre parcel in Penrose, Colorado with expansive mountain views and unforgettable sunsets. The site is ready for construction and features protective covenants with no HOA, offering both flexibility and value protection. Water tap is paid, and electric is available at the property line, reducing upfront development costs. Plenty of room for horses, a custom home, shop, or

    Kerri Kilgore Realty One Group Apex

    35 Top Rail Trail, Penrose, CO 81240
  • /11

    $125,000 Lot/Land

    1442 K St, Penrose, CO 81240

    • 4.7 Acres
    • $26,596 per Acre

    This parcel is offered exclusively as a package with the adjacent 4.7-acre residential property MLS#4720347 , creating a rare opportunity to own a total of 9.4 irrigated acres in Fremont County. Discover the perfect opportunity to expand your rural lifestyle with this 4.7-acre irrigated parcel just outside Penrose, Colorado. Whether you're seeking more space for livestock, a productive hay field,

    Tony Greer Keller Williams Performance Realty

    1442 K St, Penrose, CO 81240

Frequently Asked Questions

What warranties come with a new construction home?
Most Builders provide a 1-year workmanship warranty, a 2-year systems warranty, and a 10-year structural warranty.
What upgrades are included in a new build vs what is considered extras?
Builders in Penrose, CO usually offer a base package and optional upgrades such as flooring, countertops, and appliances.
Do new construction homes in Penrose, CO hold their value?
Yes, especially in fast-growing areas of Penrose, CO. Resale values are supported by population growth, job opportunities, and desirable schools.
What happens if I find issues after moving in to new build?
Builders typically provide a post-move in warranty service to address punch list items.

Home Trends in Penrose, CO

Housing Trends

Median Sale Price
$404,250
Median Single Family Sale Price
$419,950
Average Price Per Sq Ft
$265
Number of Homes for Sale
25
Last 12 months Home Sales
84
Months of Supply
3.60
Median List Price
$444,900
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
8%
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