$6,495,000
******** Beds
******** Bath
631,620 sqft
********
Active
Ask a Question
Description
Supplements: A 1.7-acre commercial lot is the only undeveloped lot in the New Town Square. Basically, 7.9 million for 6.5 million (difference because seller can 1031 and avoid 1.4 mm in tax). Improved entitled, ready to build lots, all zoning in place, including exclusive rights to build and manage all 20 parcels. 10 million + in build value alone, plus residual management fee income. Seller is a high-end custom home builder, broker, and developer, and can build out for you and manage rentals. Rental Comps: .5 mile away, Ambiente, La Auberge, and Enchantment resorts; first two with road noise below the highway, renting for 2200+ per night (for 550 s ft) with 75% occupancy. Sky Ridge will be quieter, with much better views and location, and much higher-end homes, 2500 s ft 3/3, fetching more. This is a one-of-a-kind project. Seller will begin construction in mid-2026 if it doesn't sell. The seller has many projects looking to consolidate and semi-retire. Several other large land listings of similar size in the area for sale, but will take years to get approvals/permits, and are raw, unimproved(took 9 years to get Sky Ridge done), and millions in improvements. The recent Residence club sold/closed Comps. 1.)60 Indian Head Lane (Enchantment residence club comp), .54 acre lot sold and closed in 11/2023, sold for 1,250,000. 2.)2.)75 PASEO DEL INEZ 7 sold for 1,350,000, closed on 1/13/26 3.)170 HIDDEN MEADOW DR 7, closed 7/8/2024 for 3,100,000