Massive Plot of Land Available for $28 million in Paradise Valley

Article originally posted on Phoenix Business Journal on February 28, 2017

At the base of Mummy Mountain in Paradise Valley, an 841,669-square foot plot of land has entered the market at $28 million.

“It’s extremely rare that this kind of land in this kind of location becomes available,” said Rusty Davis, a listing agent at Russ Lyon Sotheby’s International Realty. “Having football fields worth of land at the base of a mountain is an amazing opportunity for potential estate builders or developers.”

The land is currently zoned for one house per acre, which Davis said is typical for Paradise Valley, but is likely one of the last pieces of relatively flat, undeveloped land in its size category.

“It’s probably the only piece of that size that is flat,” Davis said. “It could be used for a Bill Gates or a Harrison Ford — someone who would want a compound of that size.”

The 19.32-acre property is made up of four separate lots, all of which share borders, and are being sold together. It’s located on the east side of Coconino Road, just south of Mockingbird Lane.

“It’s on the northern slope of Mummy Mountain, which is a very good area,” Davis said. “In fact, Randy Jackson has a home over there. It’s a unique one-of-a-kind piece. There just aren’t any more areas out there that are that big.”

The property is located at 8039 N. Coconino Road.